In many European countries, natural gas-fired power plants are considered a possibility to quickly compensate the expected shortfall in electric energy supply. Increasing gasfired generation capacity would also increase the couplings and interactions between gas and electricity systems. So far, gas power plants participate in two different markets gas and electricity. Coupling these markets by ...

Renewable energy sources (RES), especially wind power plants, have high priority of promotion in the energy policies worldwide. An increasing share of RES and distributed generation (DG), should, as has been assumed, provide improvement in reliability of electricity delivery to the customers. Paper presented here concentrates on electricity storage systems technologies and applications pinpoint...

The objective of this paper is to present experimental results for testing the performance of different auction mechanisms related to the introduction of competitive markets for the generation of electricity. The research is based on the concept of smart markets introduced by Vernon Smith and a simulation model (PowerWeb) of a realistic bulk power system. There are unique physical aspects assoc...

Natural gas plays an important role in the future development of electricity markets as it is the least emission intensive fossil generation option while additionally providing the needed flexibility in plant operation to deal with intermittent renewable generation. As both the electricity and the natural gas market rely on networks, congestion on one market may lead to changes on another. In a...

This paper provides a review on modeling electricity markets with System Dynamics (SD) focusing on deregulated electricity market models. First the SD method is classified within the wide field of electricity market modeling. Then all distinctive properties of the SD method in this context are elaborated. After an overview of first SD models in energy economics, a comprehensive review of models...

Renewable energy sources (RES), especially wind power plants, have high priority of promotion in the energy policies worldwide. An increasing share of RES and distributed generation (DG), should, as has been assumed, provide improvement in reliability of electricity delivery to the customers. Paper presented here concentrates on electricity storage systems technologies and applications pinpoint...

In recent years, the power systems of many countries have been restructured. Different models of electricity market emerged. A simulator that can serve as an educational tool, an evaluation tool, and a training tool would especially be useful for countries that are contemplating restructuring. A power market has significant requirements on platform independent and interactive capabilities, In t...

In the restructured electricity industry, electricity pooling markets are an oligopoly with strategic producers possessing private information (private production cost function). We focus on pooling markets where aggregate demand is represented by a non-strategic agent. We consider demand to be elastic. We propose a market mechanism that has the following features. (F1) It is individually ratio...