With the large-scale production of plug-in electric vehicles (PEVs), a new entity, the PEV fleet aggregator manages charging and discharging processes of the vehicles. The main objective of an individual aggregator in interaction with electricity markets is maximizing its profit. In this paper, the performance of this aggregator in day-ahead and real-time electricity markets, considering (a) cu...

The introduction of competition in the electricity sector around the globe is aimed at improving efficiency in production, transmission and distribution of electrical energy. Privatization and deregulation in this sector are also intended to attract players and investments in the markets as well as to ensure competitive electricity price. This paper presents the use of an agent-based simulation...

It is often assumed in practice that electricity cannot be stored, even though in reality the storage of electricity is technically feasible. The issue is not whether electricity can be stored, but whether it can be stored efficiently and economically. In this paper, we present some of the current storage technologies and discuss their applications within power markets. We focus on the use of s...

Offshore wind offers a very large clean power resource, but electricity from the first US offshore wind contracts is costlier than current regional wholesale electricity prices. To better understand the factors that drive these costs, we develop a pro-forma cash flow model to calculate two results: the levelized cost of energy, and the breakeven price required for financial viability. We then d...

Models formulated as complementarity problems have been applied previously to assess the potential for market power in transmission-constrained electricity markets. Here, we use the complementarity approach to simulate the interaction of pollution permit markets with electricity markets, considering forward contracts and the operating reserve market. Because some power producers are relatively ...

Starting from a simple supply/demand model for electricity, we obtain a diffusion (i.e. jumpless) model for spot prices which can exhibit ’price spikes’. We estimate the parameters in the model using historical data from the Alberta and California markets, and compare this model with some others used for spot prices.

In this paper we propose a Multi-Agent system architecture to simulate and analyse Competitive Electricity Markets combining bilateral trading with power exchange mechanisms. This Multi-Agent environment includes several heterogeneous and autonomous intelligent agents representing the different independent entities in Electricity Markets. Agents are endowed with historical information about the...

This paper proposes an economic dispatch strategy for the electricity system with one generation company, multiple utility companies and multiple consumers, which participate in demand response to keep the electricity real-time balance. In the wholesale markets, multiple utility companies will commonly select a reliable agent to negotiate with the generation company on the wholesale price. It i...

The issue of finding market clearing prices in markets with non-convexities has had a renewed interest due to the deregulation of the electricity sector. In the day-ahead electricity market, equilibrium prices are calculated based on bids from generators and consumers. In most of the existing markets, several generation technologies are present, some of which have considerable non-convexities, ...