Price estimation is becoming increasingly relevant to producers and consumersin the new competitive electric power markets. Both for spot markets and short termcontracts, price forecasts are necessary to develop bidding strategies in order to maximizetheir benefits and utilities, respectively. Price estimation has become a very valuable toolin the current upheaval of electricity market deregula...

It is very important to forecast electricity price in a deregulated electricity market for choosing the bidding strategy, and it is the most important signal for other players. It engulfs information for both customers and producers in order to maximize their profit. Thus, choosing the best method of price forecasting is a crucial task to have the most accurate forecast. In this paper the price...

For optimal operation of power-intensive plants, production scheduling and electricity procurement have to be considered simultaneously. In addition, uncertainty needs to be taken into account. For this purpose, an integrated stochastic mixed-integer linear programming model is developed that considers the two most critical sources of uncertainty: spot electricity price, and product demand. Con...

By increasing the extraction of natural gas, its role in the restructured power systems is being expanded, due to its lower pollution. Iran has the second largest reserves of natural gas in the world and exports it to different countries. This paper represents long run analysis of natural gas export from Iran to Turkey as a case study, considering direct transfer and exporting via the power mar...

Testing the performance of electricity markets using POWERWEB has already shown that relatively inexperienced players can identify and exploit market power in load pockets. When transmission constraints are not binding, however, auctions with six players have been shown to be efficient. There is evidence from operating electricity markets that prices can be driven above competitive levels when ...

E lectricity has particular importance in the national economy and providing socio-economic welfare. It is considered an essential infrastructure of the countries development. This is why the management of electricity consumption and the formulation of proper policies for it is very important for policy-makers. To do this successfully, it is necessary to identify energy consumption p...

This paper presents the design and pricing of financial contracts for the supply and procurement of interruptible electricity service. While the contract forms and pricing methodology have broader applications, the focus of this work is on electricity market applications, which motivate the contract structures and price process assumptions. In particular, we propose a new contract form that bun...