UMIST 2002 PDF Version 2 Acknowledgments I would like to thank my supervisor, Dr Daniel Kirschen, for his valuable guidance and constant support. Abstract Conventional Economic Modelling (CEM) can be successfully employed to describe different financial equilibria. Its ability, though, to provide insights into the strategic behaviour of generating companies competing in the new, restructured el...

Recently several robust control designs have been proposed to the load-frequency control (LFC) problem. However, the importance and difficulties in the selection of weighting functions of these approaches and the pole-zero cancellation phenomenon associated with it produces closed loop poles. Also the order of robust controllers is as high as the plant. This gives rise to complex structure of s...

the concept of countervailing power is a term to describe the situation in which the market power of one side (sellers) may be balanced by the market power of another side(buyers) in a given market. the purpose of this paper is to test this hypothesis and to determine whether the market power of sellers has had a restraining influence on increases in buyer market power in iran’s large industrie...

Many restructured electric power systems use the notion of locational marginal pricing (LMP) to optimally price network congestion. In order for market participants to hedge against volatile congestion costs, as well as to spur investments, market-makers in restructured power systems offer point-to-point financial transmission rights (FTRs), whose per-unit value is defined as the difference in ...

In the open access restructured power system market, it is necessary to develop an appropriate pricing scheme that can provide the useful economic information to market participants, such as generation, transmission companies and customers. Though many methods have already been proposed, but accurately estimating and allocating the transmission cost in the transmission pricing scheme is still a...

In restructured electric power industries around the world, power pool designers have enabled generators to earn revenues consisting of energy and capacity payments. This paper discusses uses and abuses of capacity payments, and links provision of these payments to the issue of pricing reliability. A general formula for determining the ideal capacity price in a generation supply system is prese...

---------------------------------------------------------------------***--------------------------------------------------------------------Abstract In restructured electricity markets, an effective transmission pricing method is required to address transmission issues and to generate correct economic signals to reduce the generation cost. It is necessary to develop an appropriate pricing schem...

Natural gas power plants can further specify their procurement contracts with pipeline distributors using a firm contract option that guarantees delivery at an additional cost. Using transaction level data from 2008-2012 we empirically test what characteristics lead to use of firm contracts and how the premium for firm contracts changes with these characteristics. Using variation in power plant...