In a real electricity market, complete information of rivals’ behavior is not available to market participants. Therefore, they make their bidding strategies based on the historical information of the market clearing price. In this paper, a new market simulator is introduced for a joint energy and spinning reserve market, in which market participants’ learning process is modeled using Q-learnin...

Recent changes in the operation and planning of power systems have been motivated by the introduction of Distributed Generation (DG) and Demand Response (DR) in the competitive electricity markets’ environment, with deep concerns at the efficiency level. In this context, grid operators, market operators, utilities and consumers must adopt strategies and methods to take full advantage of demand ...

Over the last few years, a strong penetration of Intermittent Renewable Energy Sources (IRES) has been in progress Italian power system. In this new framework, dispatching activity must improve its efficiency to ensure adequacy and security national electricity European market integration initiatives are making goal achievable, provided that coherency price signals reserve procurement at level ...

suicide is a well-known public health problem in the united states. macroeconomic conditions, among many other factors, because of their impacts on psychological well-being of individuals, are thought to be linked to suicide attempts. however, previous research on the relationship between suicide rates and macroeconomic conditions, especially that of labor market conditions, has resulted into a...

Due to the fast development of distributed energy resources and demand-side response management, agents in electricity markets are becoming more proactive, which boosts peer-to-peer (P2P) market mechanisms. However, our knowledge, none existing works considers clearing both reserve via a P2P mechanism order compensate for uncertainty originating from renewable generation allocate cost induced b...

This paper addresses the impact market conditions on bank deposit interest rates. Examining data for 1988-2000, we find that rates are affected by market size structure (defined as the distribution of market shares of banks of different sizes whether or not the market share is achieved entirely in that local market). This is in addition to the effects of market concentration noted in earlier wo...

System operators in the electricity industry are required to procure reserve capacity to deal with unanticipated outages, demand shocks, and transmission constraints. One traditional method of procuring reserves is through a separate capacity auction with two-part bids. We analyze an alternative scheme whereby reserves are procured through the energy market using only energy bids, and capacity ...