In today’s restructured environment, congestion management plays an essential role in power system operation. Different methods are presented and discussed in this respect for congestion management in short-term and long-term intervals. It is attempted in the present paper to investigate the impact mechanism of FACTS devices and demand response programs together with generation re-dispatch as s...

This paper presents a stochastic mixed-integer linear programming approach for solving the selfscheduling problem of a price-taker thermal and wind power producer taking part in a pool-based electricity market. Uncertainty on electricity price and wind power is considered through a set of scenarios. Thermal units are modelled by variable costs, start-up costs and technical operating constraints...

Emerging electricity reforms in the power market aims at removing monopolistic oligopoly and promoting competition by providing opportunities to more producers. This paper seeks investigate various existing structures of Power Market. Indian Energy Exchange (IEX) India Limited (PXIL) facilitates transparent trading electricity, a larger spectrum allows participation other players market. Market...

Creating successful competitive electric power markets requires transmission pricing reform. Due to the physics of power transmission networks, efficient transmission prices must incorporate two types of loop flow externalities, and must be determined jointly with efficient power (nodal) prices. Prior proposed market schemes all involve an approximation to the efficient prices. I propose a real...

We use new TRACE data to investigate the liquidity and pricing of agency mortgagebacked pass-through securities. We distinguish between two trading channels -a To-BeAnnounced (TBA) forward delivery market and a specified-pool market. Institutional specified-pool traders in the deep end of the market have easy access to the TBA market, while retail specified-pool traders in the shallow end of th...

In many power markets around the world the energy generation decisions result from two-sided auctions in which producing and consuming agents submit their price-quantity bids. The determination of optimal bids in power markets is a complicated task that has to be undertaken every day. In the present work, we propose an optimization model for a price-taker hydropower producer in Nord Pool that t...

This paper proposes a new model for multi-area dynamic economic dispatch (MA-DED) problem, taking into account hydro-thermal generating units, wind power generation and power pool market, for supplying the overall demand of the system for a given horizon. The uncertainties in wind power generations, energy prices and demand of the system are also modeled to make the proposed approach more pract...

With the beginning of the liberalization process in the early 1990s, electricity markets headed into extensive changes. Moving away from vertically integrated monopolies, power delivery can nowadays be regarded as consisting of several services, mainly including generation, transmission and distribution. The unbundling of the value creation chain is a common feature of liberalized markets world...