In open electricity market, electricity purchasers will trade in two different ways of marketing. Contract and power auction market, a typical decisionmaking is how to determine purchasing proportion of two markets to reduce purchase expenses and avoid risks. Based on chance-constrained programming, a new purchase decision-making optimization model with stochastic constraint of Distribution Com...

The risks and returns associated with different choices of electricity generation technology cannot properly be considered in isolation. The paper considers their impact on an investing company, using Mean-Variance Portfolio (MVP) theory to identify optimal generation portfolios in liberalised electricity markets characterised by fuel, CO2, and electricity price risk. The paper demonstrates the...

The objective of this analysis is to investigate the potential benefits of a regional electricity market in Southeast Europe in 2005. The study models the operation of the electric power systems of seven countries. The primary software tool is the GTMax model, which was used to analyze the operation of individual utility systems, as well as their operation in a regional electricity market. Four...

Abstract: We examine the impact on inter-regional trade in eastern U.S. electricity markets arising from the FERC-supported creation of Independent System Operators (ISOs). Our analysis focuses on the PJM ISO (Pennsylvania, New Jersey, Maryland, and other states) and its trade with the New York ISO and ECAR (East Central Area of Reliability). The formation of ISOs has been associated with two d...

Failures in critical infrastructures can cause major damage to society. Wide-area interruptions (blackouts) in the electricity supply system have severe impacts on societal critical functions and other critical infrastructures, but there is no agreed-upon framework on how to analyze and predict the reliability of electricity supply. Thus, there is a need for an approach to cross-sector risk ana...

A game with a finite (more than three) number of players on a polyhedron of connected player strategies is studied. This game describes the interaction among (a) the base load power plant (the generator), (b) all the large customers of a regional electrical grid that receive electric energy from the generator, as well as from the available renewable sources of energy, both directly and via elec...

By providing feedback to customers on home electricity and natural gas usage with a focus on peer comparisons, utilities can reduce energy consumption at a low cost. We analyze data from two large-scale, random-assignment field experiments conducted by utility companies providing electricity (the Sacramento Municipal Utility District (SMUD)) and electricity and natural gas (Puget Sound Energy (...

We consider the partial hedging of stochastic electricity load pattern with static forward strategies. We assume that the company under consideration maximizes the risk adjusted expected value of its electricity cash flows. First, we calculate an optimal hedge ratio and after that we use this hedge ratio to solve the optimal hedging time. Our results indicate, for instance that agents with high...