The market power of the incumbents means that average pool prices are set by the costs of entry. Reforms which raise entry costs will be proposed and should be resisted. Reforms to capacity payments may have little effect on prices, but could affect system security. The values of VOLL and LOLP appear grossly incorrect, and if changed might affect reserve margins and the allocation of investment...

demand response (dr) has many beneficiaries in the electricity market. there are independent players who are interested in dr, which include: transmission system owners, distributors, retailers, and aggregators. in this paper dr is introduced as a tradable commodity that can be exchanged between dr buyers and sellers in a pool-based market which is called demand response exchange (drx). drx ope...

Italy adopted the European Union Directives for the liberalisation of electricity and natural gas markets by means of two legislative decrees issued in February 1999 (electricity) and May 2000 (natural gas). Consequently, the Italian electricity monopolist Enel was obliged to sell 15,000 megawatts of its installed capacity to other operators, in order to promote competition in power generation....

This paper presents an overview of strategic gaming used for understanding the effective company and regulatory strategies for various market participants under alternative scenarios on pricing and institutional structures for electric power. Utilizing the England and Wales (E&W) power pool as a testbed, we develop an aggregate model of payo€s for various stakeholders, under speci®ed demand and...

This paper presents some simulations of the proposed California power exchange, or pool, as it might interact with the regional market in the Western U.S. Pooling will increase interdependence with the regional market. We study this using a multi area chronological production simulation model. We find that overall operating economies resulting from pooling are small. Physical changes in the dis...

This paper presents an overview of strategic gaming used for understanding the effective company and regulatory strategies for various market participants under alternative scenarios on pricing and institutional structures for electric power. Utilizing the England and Wales (E&W) power pool as a testbed, we develop an aggregate model of payo€s for various stakeholders, under speci®ed demand and...

As a matter of course, power market uncertainties escalation is by product of power industry restructure on one hand and the unrivalled penetration of renewable energies on the other. Generally, the decision making process in such an uncertain environment faces with different risks. In addition, the performance of real power markets is very close to oligopoly markets, in which, some market play...

This paper presents an empirical analysis of the value of a coordinated market exchange mechanism. I present a model of e cient trading mechanisms under uncertainty, and develop a measure of the value of an inter rm trade agreement in the context of sequential `buy-versus-produce' decisionmaking by rms. The theory is applied to estimate the value of a formal trading institution in the Californi...

abstract efficacy of encouraging and punishing policies of government in different markets is related to market power. study of market behavior is also important for efficient structuring of tools such as commodity exchanges and cooperatives. in this study, market power structure of pistachio domestic market in iran was investigated. sample was 343 pistachio producers and 252 pistachio traders ...

Within the framework of multi-stage mixed-integer linear stochastic programming we develop a short-term production plan for a price-taking hydropower plant operating under uncertainty. Current production must comply with the day-ahead commitments of the previous day which makes short-term production planning a matter of spatial distribution among the reservoirs of the plant. Day-ahead market pr...