A transition from an oil and coal based energy system to a systems based on renewable and sustainable energy sources has begun in many countries throughout the developed world. As a pioneer, Denmark currently has a wind energy penetration of 30% in the electricity sector and an end goal of 100% renewables in all energy sectors by 2050. The main elements in this transition are an increase in the...

The creation of electricity markets has raised the fundamental question as to whether markets provide the right incentives for the provision of the reserves needed to maintain system reliability, or whether some form of regulation is needed. In some states in the US, electricity retailers have been made responsible for providing such reserves by contracting capacity in excess of their forecaste...

The challenges of the new millennium and specific properties of knowledge require a new understanding of knowledge. Author’s approach to knowledge is based on three mutually related aspects. From the aspect of substance, the author understands knowledge as a set of experiences where information, based on rational combination is classified into patterns of thought through cognitive processes. Th...

Merchant electricity transmission investment is a practically relevant example of an unregulated investment with monopoly properties. However, while leaving the investment decision to the market, the regulator may decide to prohibit capacity withholding with a must-offer provision. This paper examines the welfare effects of a must-offer provision prior to the capacity choice, given three reason...

Short-term resource adequacy is the ability of a system with a set of given resources to meet the load over the short term. In the aftermath of the 2000–2001 California crisis, focus on resource adequacy has come to the forefront of market design issues. Various approaches, such as capacity requirements, capacity payments and financial options requirements, have been proposed to ensure resource...

The rapid advances in the Information and Communication Technologies have brought to the development of on-demand high quality applications and services allowing users to easily access resources anywhere anytime. Users can pay for a service and access the resources made available during their subscriptions until the subscribed periods expire. Users are then forced to download such resources if ...

This paper discusses the rationales for a Grid market and, in particular, the introduction of a market place for trading commoditized computing resources. The market place proposed makes computing resources from different providers substitutable through virtualization. This includes the definition of a spot and future market as well as the parameters that a market mechanism for computing resour...