Spot Pricing Of Electricity

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Spot Pricing Of Electricity

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Author : Fred C. Schweppe
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-07

Spot Pricing Of Electricity written by Fred C. Schweppe and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-07 with Business & Economics categories.

There is a need for fundamental changes in the ways society views electric energy. Electric energy must be treated as a commodity which can be bought, sold, and traded, taking into account its time-and space-varying values and costs. This book presents a complete framework for the establishment of such an energy marketplace. The framework is based on the use of spot prices. In general terms: o An hourly spot price (in dollars per kilowatt hour) reflects the operating and capital costs of generating, transmitting and distributing electric energy. It varies each hour and from place to place. o The spot price based energy marketplace involves a variety of utility-customer transactions (ranging from hourly varying prices to long-term, multiple-year contracts), all of which are based in a consistent manner on hourly spot prices. These transactions may include customers selling to, as well as buying from, the utility. The basic theory and practical implementation issues associated with a spot price based energy marketplace have been developed and discussed through a number of different reports, theses, and papers. Each addresses only a part of the total picture, and often with a somewhat different notation and terminology (which has evolved in parallel with our growing experience). This book was xvii xviii Preface written to serve as a single, integrated sourcebook on the theory and imple mentation of a spot price based energy marketplace.

Spot Pricing Of Electricity

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Author : Fred C Schweppe
language : en
Publisher:
Release Date : 1988-11-30

Spot Pricing Of Electricity written by Fred C Schweppe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-11-30 with categories.

The Econometrics Of Energy Systems

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Author : Jacques Girod
language : en
Publisher: Springer
Release Date : 2006-12-14

The Econometrics Of Energy Systems written by Jacques Girod and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-12-14 with Business & Economics categories.

The complexity and volatility of energy markets creates strong demand for quantitative analysis and econometric techniques. This book offers an introduction to the state of the art in econometric modelling applied to the most pertinent issues in today's energy markets for a better understanding of the working of energy systems and energy economics.

The Cost Of Electricity

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Author : Paul Breeze
language : en
Publisher: Elsevier
Release Date : 2021-02-28

The Cost Of Electricity written by Paul Breeze and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-28 with Technology & Engineering categories.

The Cost of Electricity is an essential tool for any researcher or practitioner seeking to establish the economic and environmental cost of power generation, and thereby to analyse the economic feasibility of power systems. Chapters cover capital cost, fuel cost, levelised cost, subsidies and tariffs, lifetime emission analysis, net energy analysis, traditional generation costs and renewable generation costs. The work is based on published analyses of generation costs and generation cost predictions from trusted organisations such as the US Energy Information Administration and the IEA. Chapters proceed in a logical manner through cost factors before concluding with the current and future cost of electricity generation. - Analyses the factors that contribute to the cost of generating electricity together with the presentation of historical cost trends and predictions for future costs - Examines the environmental cost of power generation by lifecycle analysis, including carbon emissions impact - Reviews factors which distort the market cost of electricity

Auctions In The Electricity Market

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Author : Stefan Schöne
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-01-06

Auctions In The Electricity Market written by Stefan Schöne and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-06 with Business & Economics categories.

Electricity is an essential commodity traded at power exchanges. Its price is very volatile within a day and over the year. This raises questions about the efficiency of the trading rules. The author develops a non-cooperative auction model analyzing the bidding behavior of producers at power exchanges. Producers are limited by the production capacity of their power plants. Production costs are affiliated. This allows for independence or positive correlation. The author analyzes and compares a uniform-price, a discriminatory, and a generalized second-price auction. Optimal bids, cost efficiency, profits, and consumer prices are examined. A simple probability density function of affiliated production costs is given and used for examples. Numerical results are presented. The results of the analysis can help improving the bidding strategies of producers, selecting the best auction type at power exchanges or detecting price manipulations.

Stochastic Modelling Of Electricity And Related Markets

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Author : Fred Espen Benth
language : en
Publisher: World Scientific
Release Date : 2008

Stochastic Modelling Of Electricity And Related Markets written by Fred Espen Benth and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.

The markets for electricity, gas and temperature have distinctive features, which provide the focus for countless studies. For instance, electricity and gas prices may soar several magnitudes above their normal levels within a short time due to imbalances in supply and demand, yielding what is known as spikes in the spot prices. The markets are also largely influenced by seasons, since power demand for heating and cooling varies over the year. The incompleteness of the markets, due to nonstorability of electricity and temperature as well as limited storage capacity of gas, makes spot-forward hedging impossible. Moreover, futures contracts are typically settled over a time period rather than at a fixed date. All these aspects of the markets create new challenges when analyzing price dynamics of spot, futures and other derivatives.This book provides a concise and rigorous treatment on the stochastic modeling of energy markets. Ornstein?Uhlenbeck processes are described as the basic modeling tool for spot price dynamics, where innovations are driven by time-inhomogeneous jump processes. Temperature futures are studied based on a continuous higher-order autoregressive model for the temperature dynamics. The theory presented here pays special attention to the seasonality of volatility and the Samuelson effect. Empirical studies using data from electricity, temperature and gas markets are given to link theory to practice.

Electricity Transmission Pricing And Technology

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Author : Michael A. Einhorn
language : en
Publisher: Springer Science & Business Media
Release Date : 1995-12-31

Electricity Transmission Pricing And Technology written by Michael A. Einhorn and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-12-31 with Business & Economics categories.

The electric utility industry and its stakeholders in the. United States appear to be at a critical juncture in time. Powerful forces of global proportions are propelling the industry instinctively and in a secular fashion towards restructuring. That the industry will change is a fait accomplii. The nature and timing of the change is still a matter of intense debate, however. Because of the evolution of the industry into its present-day form, i.e. regulated local monopolies in their designated franchise service territories, the relative roles and expectations of various institutions would have to change to conform to the new state in the future. In either encouraging, or allowing this change to happen, society is essentially saying that future societal welfare would be better served by the changed structure contemplated. What that assumption translates into in more direct terms is that creation of future wealth would be better accomplished through redistribution of wealth today. Thoughtful individuals recognize the enormous responsibility placed upon the various entities empowered with jurisdiction over the timing and nature of the structural change. They are trying hard to bring analytical rigor to bear on the debate. One very critical element of this debate on restructuring is the issue of the treatment of transmission. The issue has been variously labeled transmission access, or pricing. Volumes have been written and spoken on this topic.

Federal Energy Regulatory Commission Reports

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Author : United States. Federal Energy Regulatory Commission
language : en
Publisher:
Release Date : 2003

Federal Energy Regulatory Commission Reports written by United States. Federal Energy Regulatory Commission and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Energy conservation categories.

Forecasting Models Of Electricity Prices

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Author : Javier Contreras
language : en
Publisher: MDPI
Release Date : 2018-04-06

Forecasting Models Of Electricity Prices written by Javier Contreras and has been published by MDPI this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-06 with Technology & Engineering categories.

This book is a printed edition of the Special Issue "Forecasting Models of Electricity Prices" that was published in Energies

Proceedings Of The Ninth Power Systems Computation Conference

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Author : Cascais Portugal
language : en
Publisher: Elsevier
Release Date : 2016-06-06

Proceedings Of The Ninth Power Systems Computation Conference written by Cascais Portugal and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-06 with Computers categories.

Proceedings of the Ninth Power Systems Computation Conference