Tradable pollution permits are the basis of a new market-based approach to environmental control. The Acid Rain Program, established under Title IV of the Clean Air Act Amendments of 1990, and aimed at drastically reducing the SO2 emissions of electricity generating units in the US, is the world’s first large-scale implementation of such a program. An important feature of this program is that p...

The electricity market in Portugal was recently opened to all consumers. However, it remains highly concentrated in terms of control of production and supply and the long-term power purchase arrangements still coexist with free market. This paper discusses the electricity market restructuring process in Portugal, presenting its main marks over the past years and the present situation. The evolu...

The energy market liberalisation process in Europe is increasingly focused on electricity market integration and related cross border issues. This signals that the liberalisation of national electricity markets is now closer to the long-term objective of a single European energy market. The interface between the national electricity markets requires physical interconnections and technical arran...

The energy market liberalisation process in Europe is increasingly focused on electricity market integration and related cross border issues. This signals that the liberalisation of national electricity markets is now closer to the long-term objective of a single European energy market. The interface between the national electricity markets requires physical interconnections and technical arran...

This paper develops a system dynamics model to analyze the impacts of different kinds of capacity payment as investment incentive mechanisms in Iranian electricity market. Since it is aimed that the incurred capital and operating costs of generation technologies be recovered in Iranian electricity pool, the noncompetitive capacity payment mechanism has been introduced for this purpose in order ...

Modeling the optimal bid of wind power producers as price-makers is paramount for understanding the effect of their large-scale participation in electricity markets. We consider the problem of a wind power producer being a price-taker in the day-ahead market, but a price-maker in the balancing market, who aims at optimizing the expected revenues from these market floors. The problem is formulat...

A cointegrated vector autoregressive (CVAR) model is estimated to determine the dynamic relationship between Nordic wholesale electricity prices and EU emissions trading scheme (EU-ETS) CO2 allowance prices. An impulse response analysis reveals that electricity prices have large short-term responses to CO2 price shocks, but that this response dampens over time. Using hourly Nordic electricity s...

Electricity market integration in East Asia is an important component of the energy market integration (EMI) initiatives supported by the East Asian Summit (EAS) group. The objectives of this study are twofold, namely, a) to present a review of the trends in regional electricity market integration and b) to draw implications for electricity market development in the EAS area. Specifically, this...

This paper presents a local electricity trading market that allows users to trade excess electricity among themselves in a decentralised and privacy-preserving manner. Users who have more electricity generated by their renewable energy sources than they need for themselves, can sell this electricity to other users using a bidding mechanism based on secure multiparty computations. Based on the b...

In a competitive electricity market environment, power producers and consumers need, on one hand, accurate load and/or electricity consumption forecasting tools. These tools will ensure an a-priori knowledge on the amount of energy needed for production. On the other hand, forecasting electricity prices, may play a very important role for producers and consumers when planning bidding strategies...