Essays On Electricity Markets
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Essays On Electricity Markets
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Author : Linda Rud
language : en
Publisher:
Release Date : 2009
Essays On Electricity Markets written by Linda Rud and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Essays On Electricity Markets
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Author :
language : en
Publisher:
Release Date : 2014
Essays On Electricity Markets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Essays In Electricity Markets
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Author : Philip Hoang
language : en
Publisher:
Release Date : 2005
Essays In Electricity Markets written by Philip Hoang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Electric utilities categories.
Essays On The Economics Of Electricity Markets
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Author :
language : en
Publisher:
Release Date : 2014
Essays On The Economics Of Electricity Markets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Essays On Electricity Markets
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Author : Mahdi Chahkandi
language : en
Publisher:
Release Date : 2020
Essays On Electricity Markets written by Mahdi Chahkandi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Electric industries categories.
Debates about the utility death spiral have gained momentum as the increasing adoption of distributed generation (DG) during the past decade is threatening the traditional business model of electric utilities. Since most jurisdictions have implemented policies that encourage adoption of DG, it seems that the best approach for utilities to deal with the issue of the utility death spiral is to incorporate DG into their business models. In this dissertation, I analyze two policies that can resolve the death spiral problem. The first policy involves levying an option charge on consumers for the right to use the grid when their DG devices are not generating enough electricity. The other policy involves using smart meters to charge retail consumers different per unit prices in different demand periods. My theoretical results show that these two policies can resolve the death spiral problem and my simulation results confirm that the option charge and variable pricing indeed resolve a death spiral situation that I simulate for the case of California. The option charge, however, outperforms the variable pricing policy in terms of increasing consumer welfare.
Essays In Electricity Economics
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Author : Brittany L. Tarufelli
language : en
Publisher:
Release Date : 2019
Essays In Electricity Economics written by Brittany L. Tarufelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Climatic changes categories.
Goods markets are designed and regulated at a sub-global level. Although it’s typical to assume one set of market clearing rules across regulated and unregulated regions, trade occurs across a patchwork of sub-global market designs. Not accounting for this heterogeneity in market design can lead to unanticipated outcomes from sub-global regulations, as correcting for one market failure–such as a negative externality from carbon emissions–can lead to another market failure from the market design itself when trade occurs across differing market designs. The anatomy of this second-best problem is considered in the context of U.S. electricity markets, as market clearing mechanisms vary by region, and they imperfectly overlap with state-level climate policies such as carbon prices and renewables subsidies. In Chapter I, I present a review of the theoretical and empirical literature on electricity market design and its interaction with regional climate policies. In the wholesale electricity sector, market design drives both the extent of the forward contract market and the competitiveness of the spot market, which can induce strategic behavior and affect both market and regional climate policy outcomes. Assessing climate policy outcomes under only the assumption of a centralized market design, as is customary in the literature, belies the complexity of electricity market design, which varies regionally. As there is currently an agenda to link regional electricity markets, there is also a need to study how strategic behavior across differing market designs affects emissions when regional climate policies are imposed. In Chapter II, I develop a two-stage model of oligopolistic electricity production to determine if strategic behavior in forward contract and spot markets across differing electricity market designs increases or decreases emissions leakage from regional climate policies. I find that under uncertainty from demand and renewable resource shocks, centralized market designs generally reduce market power through arbitraging away price risk between forward and spot markets. However, under an asymmetric carbon cap and trade program, resulting emissions leakage is decreased by bilateral markets, which act as a structural backstop to emissions leakage. Emissions leakage increases when bilateral markets trade with, or are integrated with centralized markets, potentially reducing the efficacy of regional climate policies. In Chapter III, I study the interaction between sub-global climate policy and sub-global design of goods markets using an example of market expansion from wholesale electricity markets–the Western Energy Imbalance Market (EIM) in California. Using a difference-in-differences and triple-differences framework with matching to account for self-selection, I investigate how the EIM affects emissions leakage from California’s carbon cap and trade program. I find that the EIM caused a modest increase in emissions leakage into participating regions outside California, despite the relatively small trading volumes. The results have implications for ongoing efforts to expand competitive wholesale electricity markets across regions with differing climate policies. The results of this dissertation are informative for sub-global climate policy when trade in goods markets occurs across regions with different market clearing rules. Specifically, reduced transactions costs in trade between regulated and unregulated regions may tend to exacerbate emissions leakage. These results are informative in the context of continuing changes in wholesale electricity markets, including potential market expansions and continued integration of regional electricity markets across the U.S. and the European Union.
Essays On Electricity And Matching Markets
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Author : Ömer Karaduman
language : en
Publisher:
Release Date : 2020
Essays On Electricity And Matching Markets written by Ömer Karaduman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
This thesis contains two chapters on the Electricity Markets and a chapter on Matching Markets. In the first chapter, I study how an energy storage affects the wholesale electricity market. The transition to a low-carbon electricity system is likely to require grid-scale energy storage to smooth the variability and intermittency of renewable energy. I investigate whether private incentives for operating and investing in grid-scale energy storage are optimal and the need for policies that complement investments in renewables with encouraging energy storage. In a wholesale electricity market, energy storage systems generate profit by arbitraging inter-temporal electricity price differences. In addition, storage induces non-pecuniary externalities due to production efficiency and carbon emissions. I build a new dynamic equilibrium framework to quantify the effects of grid-scale energy storage and apply it to study the South Australian Electricity Market. This equilibrium framework computes a supply function equilibrium using estimated best responses from conventional sources to observed variation in the residual demand volatility. Accounting for storage’s effect on equilibrium prices is quantitatively important: previous methods that ignore this channel overestimate the profitability of operating a storage unit. The first set of results shows that although entering the electricity market is not profitable for privately operated storage, such entry would increase consumer surplus and total welfare and reduce emissions. A storage operator that minimizes the cost of acquiring electricity could further improve consumer surplus by twice as much. Importantly, a competitive storage market cannot achieve this outcome because other power plants distort prices. These results argue for a capacity market to compensate for a private firm for investing in storage. The second set of results shows that at moderate levels of renewable power, introducing grid-scale storage to the system reduces renewable generators’ revenue by decreasing average prices. For high levels of renewable generation capacity, storage increases the return to renewable production and decreases CO2 emissions by preventing curtailment during low-demand periods. In the second chapter, I study how a large scale wind power investment affects the wholesale electricity market. Renewable subsidies have been an influential device for wind power investment in many parts of the world. These policies help to lower emissions by offsetting high-emitting electricity generation with clean energy. For zero-emission targets, this transition towards renewable power should be accompanied by thermal generators’ retirement to set clean the energy mix in the power sector. In this paper, I build a framework to quantify the offset and revenue impact of large-scale wind power investment in a wholesale electricity market and apply it to study the South Australian Electricity Market. This equilibrium framework computes a supply function equilibrium using estimated best responses from conventional sources to observed variation in the residual demand volatility. I first show that reduced-form methods are biased as the scale of the additional capacity increases. My results highlight that with different investment sizes, the substitution patterns and negative revenue impact for wind power differ considerably. As the penetration level of wind power increases, the electricity becomes cheaper. The offset and negative shock shifts from low-cost inflexible generators to high-cost flexible generators, while the revenue impact is the highest on existing renewable generation. I also show quite a bit heterogeneity in price impact among different potential wind power projects. These results have some policy implications on renewable targets’ long-run effects and the project selection given the subsidy scheme. In the third chapter, joint with Nikhil Agarwal, Itai Ashlagi, Eduardo Azevedo and Clayton Featherstone, I study the market failure in kidney exchange. We show that kidney exchange markets suffer from market failures whose remedy could increase transplants by 30 to 63 percent. First, we document that the market is fragmented and inefficient; most transplants are arranged by hospitals instead of national platforms. Second, we propose a model to show two sources of inefficiency: hospitals only partly internalize their patientsâǍŹ benefits from exchange, and current platforms suboptimally reward hospitals for submitting patients and donors. Third, we calibrate a production function and show that individual hospitals operate below efficient scale. Eliminating this inefficiency requires either a mandate or a combination of new mechanisms and reimbursement reforms.
Two Essays On Electricity Markets
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Author : Rodrigo Menon Simoes Moita
language : en
Publisher:
Release Date : 2006
Two Essays On Electricity Markets written by Rodrigo Menon Simoes Moita and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This dissertation is about the electricity industry and the problems that arise with the liberalization and de-regulation of the industry. Characteristics intrinsic to the electricity market create problems that can compromise an efficient functioning of this market. Each of the two chapters of this dissertation focus on a specific aspect of this industry.
Essays On Renewable Energy In Liberalized Electricity Markets
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Author : Johannes Wagner
language : en
Publisher:
Release Date : 2018
Essays On Renewable Energy In Liberalized Electricity Markets written by Johannes Wagner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Essays On The Interaction Between Risk And Market Structure In Electricity Markets
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Author : Gabriel Fiuza de Bragança
language : en
Publisher:
Release Date : 2011
Essays On The Interaction Between Risk And Market Structure In Electricity Markets written by Gabriel Fiuza de Bragança and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Electric utilities categories.