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...

Electricity market plays an important role in improving the economics of electrical power system. Transmission network is vital entity in open access deregulated wholesale electricity market. Whenever transmission network congestion occurs in electricity market, it divides the market in different zones and the trading price of electricity will no longer remains the same for the whole system. Bi...

In this paper we deal with the European electricity market liberalization problem, formulated as a game with electricity producers as players, while the consumers’ electricity demand is exogenous. The producers maximize their profit by choosing how much electricity they will produce individually by means of electricity production available to them. The aim of the research presented in this pape...

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Abstract: In this paper, a two-dimensional Cournot model is proposed to study generation companies’ (GENCO’s) strategic quantity-setting behaviors in the newly established Yunnan’s electricity market. A hybrid pricing mechanism is introduced to Yunnan’s electricity market with the aim to stimulate electricity demand. Market equilibrium is obtained by iteratively solving each GENCO’s profit maxi...

Recent changes in the German energy policy initiated a deregulation process from a monopolistic to a competitive market, fundamentally changing the market structure, transaction relationships and trading processes. While the mutual exchange of electric energy has been a business activity between vertically integrated utilities for a long time, wholesale electricity trading in an open market onl...

Recent changes in the German energy policy initiated a deregulation process from a monopolistic to a competitive market, fundamentally changing the market structure, transaction relationships and trading processes. While the mutual exchange of electric energy has been a business activity between vertically integrated utilities for a long time, wholesale electricity trading in an open market onl...

The purpose of this paper is to analyze the real–time trading of electricity. We address a model for an auction–like trading which captures key features of the real–world electricity markets. Our main result establishes that, under certain conditions, the expected total payment to the electricity producers is independent on particular auction type. This result is analogous to the revenue equiva...

In many European countries, natural gas-fired power plants are considered a possibility to quickly compensate the expected shortfall in electric energy supply. Increasing gasfired generation capacity would also increase the couplings and interactions between gas and electricity systems. So far, gas power plants participate in two different markets gas and electricity. Coupling these markets by ...