This work has its interests in the relation between the generation mix within a power system and the elasticity of demand based on the prices emerging from the short term electricity market. The paper starts by describing a new agent-based modelling framework that involves electricity producers, consumers and suppliers as agents participating in a market environment. The framework allows for in...

This paper provides an empirical analysis of the long-run market shares of four ENERGY STAR (ES) appliances in the United States: refrigerators, dishwashers, clothes washers, and room air conditioners. We relate state-level market shares to electricity prices, demographics, and energy efficiency. We then use the results to estimate how a carbon pricing mechanism might influence the market share...

Electricity markets throughout the world continue to be opened to competitive forces. The underlying objective of introducing competition to these markets is to make them more efficient. It is a general concept of capitalism that if fair and equitable market structures are created, which give all market participants incentives to maximize their own individual welfare, then the market as a whole...

The electricity market is a very peculiar market due to the large variety of phenomena that can affect the spot price. However, this market still shows many typical features of other speculative (commodity) markets like, for instance, data clustering and mean reversion. We apply the diffusion entropy analysis (DEA) to the Nordic spot electricity market (Nord Pool). We study the waiting time sta...

the experience of countries that have liberalized their electricity markets has shown that the assumption that markets will naturally produce a competitive result is not always justified. the most important concern refers to the changes of demand and price which result in providers’ mistreatment. market power is typically defined as the ability to profitably alter prices away from competitive l...

In this paper, we develop optimal electricity storage control policies to manage chargingand discharging activities for plug-in hybrid electric vehicles for the benefit of an energy mar-ket participant. We first develop models for both risk-neutral and risk-averse aggregators toparticipate only in a real-time market. The proposed models capture the impact of the charg-ing and di...

European Energy market liberalization has entailed the restructuring of electricity power markets through the unbundling of electricity generation, transmission and distribution, supply activities and introducing competition into electricity generation. Under these new electricity market regimes, it is important to have an evaluation tool that is capable of examining the impacts of these market...

A secure energy supply is a basic need of society. Along with electricity market deregulation, a responsibility gap has arisen, where private energy companies lack economic incentives to invest in an electricity distribution grid that is secured to the level desired by society. This article discusses the emergency management strategies of municipal authorities for securing the electricity suppl...

The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved...

Accurate and effective electricity price forecasting is critical to market participants in order to make an appropriate risk management in competitive electricity markets. Market participants rely on price forecasts to decide on their bidding strategies, allocate assets and plan facility investments. However, due to its time variant behavior and non-linear and non-stationary nature, electricity...