In this paper, a new reactive power market clearing (RPMC) mechanism for day-ahead competitive electricity market is developed based on multi-objective optimization approach. In proposed mechanism, three objective functions such as total payment function (TPF) for reactive power support from generators and synchronous condensers, total real transmission loss (TRTL) and voltage stability enhance...

Economic theory suggests that firms can gain competitive advantage, thereby impeding the normalization of risk-adjusted returns relative to industry peers. Thus, these advantages directly impact a firm’s future profitability as well as the assumptions incorporated into forecasting and valuation models. This paper utilizes realized operating performance, adjusted by estimates of operational risk...

The research suggests that Chinese companies do not subscribe to ‘western’ strategy theory. As they rapidly internationalise through massive Foreign Direct Investment, Chinese companies are developing new perspectives on achieving competitiveness. A comparison of the Resource-Based View of strategy (RBV) constructs from western literature with identified (indigent) Chinese business strategies f...

The major problem of wind turbines is the great variability of wind power production. The dynamic change of the wind speed returns the quantity of the power injected to networks. Therefore, wind–thermal generation scheduling problem plays a key role to implement clean power producers in a competitive environment. In deregulated power systems, the scheduling problem has various objectives than i...

We consider virtual circuit routing protocols, with an objective of minimizing energy, in a network of components that are speed scalable, and that may be shutdown when idle. We assume that the speed s of the router is proportional to its load, and assume the standard model for component power, namely that the power is some constant static power plus s, where typically α ∈ [1.1, 3]. We give a p...

Electrical power industry restructuring has introduced a highly vibrant and competitive market which altered revolutionized many aspects of the power industry. In this changed scenario, the scarcity of energy resources, the ever increasing power generation cost, environmental concerns, ever growing demand for electrical energy necessitate optimal economic dispatch. Practical economic dispatch (...

A Payment Cost Minimization auction has been proposed as an alternative to the Offer Cost Minimization auction for use in wholesale electric power markets with an intention to lower procurement cost of electricity. Efficiency concerns have been raised for this proposal while assuming that the true production costs would be revealed to the auctioneer in a competitive market. Using an experimenta...

In this paper, we aim to model the vertical relation between retailers and suppliers in the food industry whereby retailers exercise seller power in their relation with consumers and buyer power in their relation with producers. We then evaluate the degree of price transmission, relative to the perfectly competitive benchmark, from the farm to the retail sector assuming a supply shock. With the...

This paper discusses online power-aware routing in large wireless ad-hoc networks (especially sensor networks) for applications where the message sequence is not known. We seek to optimize the lifetime of the network. We show that online power-aware routing does not have a constant competitive ratio to the off-line optimal algorithm. We develop an approximation algorithm called max-min zPmin th...

This paper investigates the implications of U.S. withdrawal on environmental effectiveness, economic efficiency, and the distribution of compliance costs taking into account market power of the Former Soviet Union (FSU) on emission permit markets. While exercise of market power on behalf of FSU under U.S. compliance has no environmental impact as compared to competitive permit trade, it prevent...