This paper proposes a novel reactive power dispatch model that takes into account both the technical and economical aspects associated with reactive power dispatch in the context of the new operating paradigms in competitive electricity markets. The main objective of the proposed model is to minimize the total amount of dollars paid by the system operator to the generators for providing the req...

The present context of the electric industry, characterized by competitive markets, privatization, and regulatory of technical requirements forces the power utilities to optimize their asset management practices and develop the requisite decision plans techno-economically. Practically approaching, this paper devises a new support tool based on a multiattribute decision making (MADM) framework i...

The rapid introduction of Distributed Energy Resources (DER) into the retail/distribution sector of the electric power system has raised questions concerning both the economics and control of the power system. This paper presents one market paradigm that builds upon extension of the logic of Locational Marginal Pricing into the distribution level arguing that this extension is necessary if ther...

In this paper we report an experiment that examines a primary concern of policy makers: how a structural feature of electric power networks can contribute to the exercise of market power by well-positioned players in deregulated markets. One such feature is the distribution of ownership of a given set of generating assets. For example, two large firms could be allocated baseload and intermediat...

In a competitive energy market, system reliability should be maintained at all times. Power system operation being of online in nature, the energy balance requirements must be satisfied to ensure reliable operation the system. To achieve this, information regarding the expected status of the system, the scheduled transactions and the relevant inputs necessary to make either a transaction contra...

energy policy making in the third millennium is summarized in three areas. the first area: moving toward the use of renewable, clean and environment compatible energy, the second area: restructuring in the energy sector, to make it competitive, & finally, the third area is: increasing efficiency in energy consumption. power industry as a growing sub-section of energy sector, especially in recen...

Introduction In posted-offer markets the competitive outcome for a market, defined by the intersection of market supply and market demand curves, is frequently not a Nash equilibrium for the market viewed as a stage game. Rather, one or more sellers often have incentives to deviate unilaterally from the competitive outcome. A simple example illustrates. Consider a market with two sellers, S1 an...

The deregulation of the electricity industry in the U.S.A. has been implemented in a relatively decentralized way. Individual states or groups of states within a region have developed different approaches to deregulation. Consequently, the structures of the new markets for electricity are very different from one another. For example, eastern markets have favored a more centralized control compa...