Much electrical generation in the developed world is now conducted within deregulated energy markets, providing new layers of uncertainty for human controllers and new challenges for analysts wishing to understand and support cognitive work. In this paper we outline some of the challenges encountered when attempting to describe the work domain of hydroelectric power generation in a dynamic dere...

Nowadays, utilization of renewable energies for satisfying electricity demand has received more interest, and renewable electricity generation has been growing in the world. This study addresses the operational planning of a renewable electricity supply chain over a multi-period planning horizon. The purpose of this study is to maximize total profit and to optimize the operational decisions rel...

This thesis studies electricity derivative markets from a view point of an electricity producer. The traditionally used asset pricing methods, based on the no arbitrage principle, are extended to take into account electricity specific features: the non storability of electricity and the variability in the load process. The sources of uncertainty include electricity forward curve, prices of reso...

Intensified industrialization in developing countries has recently resulted in huge electric power demand growth; however, electricity generation in these countries is still heavily reliant on inefficient and traditional non-renewable technologies. In this paper, we develop an integrated game-theoretic model for effective power systems planning thorough balancing between supply and demand for e...

Price volatility is a major issue in liberalized electricity markets as far as risk management is concerned. In this paper we evaluate the impact of the Portuguese and Spanish electricity markets integration on the day-ahead market price volatility. For that purpose we develop an adaptive conjectural variations model which is implemented in GAMS language. We estimate the degree of competition i...

This paper provides a review on the restructuring of electricity markets around the word including the UK, Norway, Continental Europe, and the US. The focus of this review lies on aspects of competitiveness and regulation in generation and transmission markets and market design, whereas distribution and retail are not pursued in detail. Furthermore, an overview about current modeling trends reg...

The standard economic model of efficient competitive markets relies on the ability of sellers to charge prices that vary as their costs change. Yet, there is no restructured electricity market in which most retail customers can be charged realtime prices (RTP), prices that can change as frequently as wholesale costs. We analyze the impact of having some share of customers on time-invariant pric...