The paper considers mechanisms for organizing free trade in the electricity market that are based on submitting bids of energy consumers and producers to the market operator. The authors discuss and compare possible strategies of generator behavior that lead to different equilibrium situations and correspond to Cournot model and the models of supply function equilibria, and a perfectly competit...

Proposed reforms of Japan’s electricity supply industry are quite modest by international standards. In particular, while the retail market has been the focus of reform efforts, the wholesale market has been largely ignored. Most of the gains from reforming electricity supply in other countries have arisen, however, from exploiting technological changes that have allowed wholesale markets to be...

Deregulation and re-regulation of California’s electricity market not only failed in terms of anticipated cost reductions, improved customer service and higher competition, it also led to the introduction of various additional energy subsidies. This paper analyzes California’s electricity market deregulation process from a subsidy viewpoint. Under deregulation in California, investor-owned util...

While the effect speculators have on forward premiums (the difference between forward and expected spot prices) has been widely studied, there has been very little focus on the effect speculators have on competition in the product market. I study the effect speculators have had on production decisions and price levels in New York’s deregulated electricity market. For the Þrst two years of its o...

Security of supply in the Dutch electricity market: the role of reliability options 3 Security of supply in the Dutch electricity market: the role of reliability options Security of supply in the Dutch electricity market: the role of reliability options 5 Acknowledgments This work has benefited from the previous experience of the authors in the reliability options mechanism, which originated at...

The electricity market, monopolistic in nature, with government price regulation, poses a serious challenge for policy makers with respect to the cost-effectiveness of emissions trading, particularly in Asian countries. This paper argues that a cap-and-trade regulatory system for indirect emissions combined with a rate-based allocation system for direct emissions can achieve market efficiency e...

This paper proposes a game-theoretic framework for quantifying effects of strategic bidding behavior of load aggregators (LAs) on wholesale electricity market equilibrium. The independent system operator (ISO) employs double-sided auction design to settle transactions in the wholesale electricity market. Generating companies (GENCOs) and LAs submit their bids to the ISO in the economic model of...

The aim of this paper is to study the behavior of the agents that participate in the Spanish electricity market, for this purpose, the data that the Market Operator provides us after the period of confidentiality are analyzed. The objective is to know the operation to simulate the offerings of blocks the some of them. Market participants are companies authorized to participate in the electricit...

In this paper, a data modeling method is proposed to assess the similarities of electricity market performance patterns in various times. To put the method into operation, an approximate data distribution (DD) model and a difference measuring technique are proposed to assess the similarities among the data series based on the physical outline or appearance of data distributions. The DD model is...