nowadays, electricity is one of the most significant infrastructures required for economic development of countries. hence, predicting electricity demand is very important especially in industry as a major electricity-consuming sector. the majority of studies under the subject of electricity demand have been performed by econometrics and it is not possible to investigate the effect of different...

In recently proposed electricity markets, price-based competitive behaviours of power suppliers (i.e., generators), energy service providers and large users (i.e., consumers) have been formulated using various auction algorithms (see Post et al., 1995; Wolfram, 1998; Dekrajangpetch and Shebl, 2000; Nicolaisen et al., 2001; Swider and Weber, 2007). In this paper, quantized Progressive Second Pri...

Wind power is becoming a significant source of electricity in many countries. However, the inherent uncertainty of wind generators does not allow them to participate in the forward electricity markets. In this paper, we foster a tighter integration of wind power into electricity markets by using a multi-agent coalition formation approach to form virtual power plants of wind generators and elect...

In this chapter, we consider a problem of constructing trading hubs in the structure of the electricity wholesale markets. The nodes of a trading hub are used to calculate a reference price that can be employed by the market participants for different types of hedging. The need for such a reference price is due to considerable variability of energy prices at different nodes of the electricity g...

Wholesale electricity market designs in practice do not provide the market participants with adequate mechanisms to hedge their financial risks. Demanders and suppliers will likely face even greater risks with the deepening penetration of variable renewable resources like wind and solar. This paper explores the design of a centralized cash-settled call option market to mitigate such risks. A ca...

The increase in PV capacities mainly in Germany had in 2011 on some days significant impacts on spot market prices at the German electricity exchange. The core objective of this paper is to investigate the possible effects of a further uptake of PV on the prices in the EU-4 (German-French-Austrian-Swiss) electricity market. We analyse two major effects: (i) the direct impact of PV at specific t...

Market power and allegations of market power abuse are perhaps the most contentious contemporary issues concerning electricity markets. A number of industry observers and participants have made allegations regarding the abuse of market power. While some of these allegations may be well-founded, many others may be nothing more than an attempt by some to retroactively correct for their own bad bu...

Wind power is becoming a significant source of electricity in many countries. However, the inherent uncertainty of wind generators does not allow them to participate in the forward electricity markets. In this paper, we foster a tighter integration of wind power into electricity markets by using a multi-agent coalition formation approach to form virtual power plants of wind generators and elect...

Executive Summary Electric-drive vehicles can become an important resource for the California electric utility system, with consequent air pollution, system reliability, and economic benefits. We refer to electric power resources from vehicles as "Vehicle to Grid" power (V2G). The economic value of some forms of V2G appear high, more than enough to offset the initially higher costs of electric-...