To date, a number of electricity markets have deregulated, relying on market forces to set prices. The results thus far are mixed. Therefore, policy makers must rely on ex ante analyses of the market power potential for generation owners. Recently, policy makers in the Wisconsin and Upper Michigan (WUMS) electricity market have contemplated deregulation. In this paper, we examine the ability of...

Electricity Market from economic, regulatory and engineering perspective is a very demanding system to control .There is requirement of provision of cost efficiency, lower impact of environment alongwith maintenance of security of supply for use of competition and regulation in the electricity market. Many countries due to failure of its system for adequately management of electricity companies...

A short-term electricity market coordinated by a system operator provides a foundation for a competitive electricity market. In this setting, transmission congestion contracts are equivalent to perfectly tradeable physical transmission rights. With such contracts to allocate transmission benefits, it would be possible to rely more on market forces, partly if not completely, to drive transmissio...

An important objective of electricity suppliers is to maximize their profits over a planning horizon and comply with the market rules. This objective requires suppliers to learn from their bidding experience and behave in an anticipatory way. With volatile Locational Marginal Prices (LMPs), ever-changing transmission grid conditions, and incomplete information about other market participants, d...

The bilateral spot electricity market is very complicated because all generation units and demands must strategically bid in this market. Considering renewable resource penetration, the high variability and the non-dispatchable nature of these intermittent resources make it more difficult to model and simulate the dynamic bidding process and the equilibrium in the bilateral spot electricity mar...

This paper provides a review on modeling electricity markets with System Dynamics (SD) focusing on deregulated electricity market models. First the SD method is classified within the wide field of electricity market modeling. Then all distinctive properties of the SD method in this context are elaborated. After an overview of first SD models in energy economics, a comprehensive review of models...

The increase in PV capacities mainly in Germany had in 2011 on some days significant impacts on spot market prices at the German electricity exchange. The core objective of this paper is to investigate the possible effects of a further uptake of PV on the prices in the EU-4 (German-French-Austrian-Swiss) electricity market. We analyse two major effects: (i) the direct impact of PV at specific t...

In the new deregulated market of the electricity industry the communication and e-Business infrastructure plays a main role for the efficiency of all the entities present in the electricity sector. From generation to the final client there are two markets, the wholesale and the retail market. Specific characteristics of the electricity industry make the communication support a fundamental tool ...

Residential photovoltaic (PV) systems in the US are often compensated at the customer’s underlying retail electricity rate through net metering. Given the uncertainty in future retail rates and the inherent links between rates and the economics of behind-the-meter PV, there is growing interest in understanding how potential changes in rates may impact the value of bill savings from PV. In this ...