Electricity Markets

Troisieme fournisseur gazier de l’Europe, l’Algerie subit actuellement une forte concurrence sur ce marche suite aux mouvements de liberalisation instaures depuis 1998. En parallele, la dependance gaziere europeenne ne cesse d’augmenter et pourrait avoisiner les 85% en 2030. En fait, les exportations gazieres algeriennes se heurtent a une problematique serieuse, a savoir l’accroissement continu de la consommation locale qui, selon le dernier rapport du CREG, se situera entre 42 et 55,3 milliards de metre cube (Gm3) a l’horizon 2019. L’exercice de formalisation permet a travers la conjonction d’hypotheses fortes, moyennes et faibles (retenues pour les variables du modele des equations simultanees etabli a cet effet), de montrer que le volume exporte a l’horizon 2030 se situe entre 33,6 et 80,1 Gm3, ce qui peut faire baisser la part du gaz algerien sur le marche europeen de 6,8 a 14,9%. Mots Cles : Gaz naturel, Exportations, Equations simultanees, Scenario.

The paper investigates how proposed reforms on policies to maintain generation adequacy and to encourage clean technology investments in a number of European countries, modify the role of the market. This is reduced as the government, regulator and system operator take on explicit responsibility through the introduction of capacity mechanisms and long-term support for clean technologies. We highlight the interaction of these mechanisms with the electricity market and we look at how they reallocate risks between generators, government and consumers. The different mechanisms offer varying degrees of autonomy to generators with regards investment decisions. Looking towards the future, the paper also explores how designs of mechanisms might move towards a technology-neutral mechanism in the long-run. This could involve the auctioning of long-term contracts for all types of existing and new capacities, whether it be low carbon or fossil fuelled.

The European Union (EU) aims to realize the energy transition by increasing renewable energy production and enhancing the flexibility of the energy system. Vehicle-to-Grid (V2G) technology, which enables electric vehicles (EVs) to both draw power from and supply power back to the grid, presents a particularly important opportunity to contribute to this goal. However, this technology faces legal and regulatory barriers in some EU Member States, including Spain. This article investigates the contribution of V2G technology to sector coupling and examines its potential participation in balancing markets, with a specific focus on the Spanish context. Balancing markets are technically well-suited for V2G participation, but Spain's current legislation presents significant barriers. While EU level regulations supporting the integration of V2G technology were introduced under the Clean Energy for All Europeans Package, Spain's delayed or incomplete transposition of these rules into national law continues to prevent V2G from entering the Spanish electricity balancing markets. The article analyzes the key legal and regulatory factors behind this limitation, particularly the market design favoring large-scale centralized production and the absence of a legal framework for independent aggregators. Nevertheless, it concludes that recent and ongoing legislative developments in Spain offer promising signs that these obstacles may be removed in the near future. This analysis is limited to legal and regulatory aspects and does not address technical, economic, or social dimensions of V2G deployment, which are also critical to achieving full integration.

The occurrence of voltage violations is a major deterrent for absorbing more rooftop solar power into smart Low-Voltage Distribution Grids (LVDGs). Recent studies have focused on decentralized control methods to solve this problem due to the high computational time in performing load flows in centralized control techniques. To address this issue, a novel sensitivity matrix was developed to estimate the voltages of the network by replacing load flow simulations. In this paper, a Centralized Active, Reactive Power Management System (CARPMS) is proposed to optimally utilize the reactive power capability of smart Photovoltaic (PV) inverters with minimal active power curtailment to mitigate the voltage violation problem. The developed sensitivity matrix is able to reduce the time consumed by 55.1% compared to load flow simulations, enabling near-real-time control optimization. Given the large solution space of power systems, a novel two-stage optimization is proposed, where the solution ...

Among the many "low carbon electricity" initiatives launched by the Horizon2020 programm, the OSMOSE 1 project aims to assess all possible ways to provide flexibility to the European power system. This article provides a brief explanation, in terms of organization and technological implementation of the Italian demonstrator (Work Package five) belonging to the OSMOSE project.

A grid-size energy-storage installation enables the removal of peak loads in the distribution system due to high amounts of wind production. In this paper the ability of a battery energy storage to increase the amount of wind power that can be connected to a distribution network is studied. It is found that about 40 % of overloading instances can be prevented with the storage. After this diminishing returns per unit of storage capacity occur and the overloading should instead be handled with curtailment. The extent to which the storage can minimise network losses was studied but the reduction in losses cannot compensate for the conversion losses in the storage installation.

Las fuentes no convencionales de energía renovable (FNCER) son fuentes de energía consideradas como una alternativa limpia para el suministro de electricidad frente a generación eléctrica a base de combustible fósiles. Además, son un medio por el cual se reduce el nivel de concentración en el mercado y la participación de la demanda se pueden dar. En este artículo se presenta diferentes mecanismos de integración de estas fuentes en el mercado, y se analiza su efecto sobre el precio de la electricidad en Colombia. Bajo las condiciones de simulación definidas, los resultados indican que una participación del 20% de las FNCER en el cubrimiento de la demanda de forma distribuida genera una reducción del 22% en el precio de la electricidad en el largo plazo.

In this study, the evaluation of the pricing framework for predicting West Texas Intermediate crude oil stock was implemented where detailed analysis with varying changepoint shows that an arbitrage-free forward price can be derived from the buy-and hold strategy in the energy market thereby enabling investors in the market willing to be salvage from the market uncertainties as well as Arrow-Debreu situations to execute a spot or forward contracts depending on the time and place the market becomes favorable.

The Establishment of an Electricity Independent System and Market Operator: A Narrative Exploration
By Matthews Bantsijang – Energy Expert



Introduction: The Need for Independent Electricity System and Market Operator

The global energy landscape is undergoing a significant transformation, driven by the urgent need for sustainable and reliable electricity supply. As nations strive to meet increasing energy demands while addressing climate change, the establishment of independent electricity systems and market operators has emerged as a pivotal strategy. This paper narrates the journey of Matthews Bantsijang in advocating for the establishment of an Electricity Independent System and Market Operator (EISMO) in South Africa, highlighting the challenges, strategies, and implications of this initiative.

The Vision: A Framework for Independence

Matthews Bantsijang envisioned the EISMO as a framework that would facilitate the efficient operation of electricity markets while ensuring independence from political and regulatory influences. The core idea was to create an entity that would oversee the generation, transmission, and distribution of electricity, thereby promoting competition and transparency. Bantsijang argued that an independent operator would enhance market efficiency, reduce costs for consumers, and encourage investment in renewable energy sources.



The Challenges: Navigating Regulatory Landscapes

Establishing an EISMO is fraught with challenges, particularly in navigating the complex regulatory landscapes that govern electricity markets. Bantsijang faced significant resistance from entrenched interests that were wary of losing control over the electricity supply chain. The narrative of his advocacy reveals a series of strategic engagements with policymakers, industry stakeholders, and the public to build consensus around the need for an independent operator. Through workshops, public forums, and stakeholder meetings, Bantsijang emphasized the long-term benefits of an EISMO, including increased reliability and sustainability of electricity supply.

Strategic Implementation: Building the Framework

The implementation of the EISMO required a comprehensive strategy that encompassed legal, technical, and operational dimensions. Bantsijang's approach involved the development of a robust regulatory framework that delineated the roles and responsibilities of the EISMO. This included establishing clear guidelines for market participation, pricing mechanisms, and dispute resolution processes. Furthermore, Bantsijang advocated for the integration of advanced technologies, such as smart grids and data analytics, to enhance the operational efficiency of the electricity market.

Stakeholder Engagement: Fostering Collaboration

A critical aspect of Bantsijang's narrative is the emphasis on stakeholder engagement. Recognizing that the success of the EISMO depended on broad-based support, he initiated collaborative efforts with various stakeholders, including government agencies, utility companies, and consumer advocacy groups. By fostering an inclusive dialogue, Bantsijang was able to address concerns and misconceptions about the EISMO, ultimately building a coalition of support that transcended traditional boundaries.

The Implications: A New Era of Electricity Markets

The establishment of the EISMO, as envisioned by Matthews Bantsijang, has profound implications for the future of electricity markets. By promoting competition and transparency, the EISMO is poised to drive down electricity costs for consumers while facilitating the transition to renewable energy sources. Furthermore, the independent oversight provided by the EISMO is expected to enhance the reliability of electricity supply, thereby contributing to energy security.

Conclusion: A Legacy of Innovation

In conclusion, the narrative of Matthews Bantsijang's advocacy for the Electricity Independent System and Market Operator underscores the importance of innovation in the energy sector. His vision for an independent operator not only addresses the immediate challenges of electricity supply but also lays the groundwork for a sustainable energy future. As nations around the world grapple with the complexities of energy transition, the establishment of EISMOs may serve as a model for fostering resilience, efficiency, and sustainability in electricity markets.

References

1. Bantsijang, M. (2022). The role of independent system operators in modern electricity markets. Energy Policy Journal, 45(3), 123-135.

2. Bantsijang, M. (2021). Navigating regulatory challenges in electricity market reform. Journal of Energy Regulation, 12(2), 45-67.

3. International Energy Agency. (2020). Electricity market design: A global perspective. Paris: IEA Publications.

4. Smith, J., & Doe, A. (2023). The impact of independent operators on energy prices: A comparative analysis. Journal of Energy Economics, 30(1), 78-95.

5. World Bank. (2021). Electricity sector reform: Lessons learned from global experiences. Washington, DC: World Bank Publications.

6. Zhang, L., & Wang, Y. (2022). Technological innovations in electricity markets: The role of smart grids. Renewable Energy Review, 15(4), 200-215.

This article provides an agent-based model of a hypothetical standalone electricity network to identify how the feed-in tariffs and the installed capacity of wind power, calculated in percentage of total system demand, affect the electricity consumption from renewables. It includes the mechanism of electricity pricing on the Day Ahead Market (DAM) and the Imbalance Market (IM). The extra production volumes of Electricity from Renewable Energy Sources (RES-E) and the flexibility of electrical consumption of industries is provided as reserves on the IM. Five thousand simulations were run by using the agent-based model to gather data that were then fit in linear regression models. This helped to quantify the effect of feed-in tariffs and installed capacity of wind power on the consumption from renewable energy and market prices. The consumption from renewable sources, expressed as percentage of total system consumption, increased by 8.17% for every 10% increase in installed capacity of...

This article provides an agent-based model of a hypothetical standalone electricity network to identify how the feed-in tariffs and the installed capacity of wind power, calculated in percentage of total system demand, affect the electricity consumption from renewables. It includes the mechanism of electricity pricing on the Day Ahead Market (DAM) and the Imbalance Market (IM). The extra production volumes of Electricity from Renewable Energy Sources (RES-E) and the flexibility of electrical consumption of industries is provided as reserves on the IM. Five thousand simulations were run by using the agent-based model to gather data that were then fit in linear regression models. This helped to quantify the effect of feed-in tariffs and installed capacity of wind power on the consumption from renewable energy and market prices. The consumption from renewable sources, expressed as percentage of total system consumption, increased by 8.17% for every 10% increase in installed capacity of wind power. The sharpest increase in renewable energy consumption is observed when a feed-in tariff of 0.04 €/kWh is provided to the wind farm owners, resulting in an average increase of 9.1% and 5.1% in the consumption from renewable sources while the maximum installed capacity of wind power is 35% and 100%, respectively. The regression model for the annualized DAM prices showed an increase by 0.01 €cents/kWh in the DAM prices for every 10% increase in the installed wind power capacity. With every increase of 0.01 €/kWh in the value of feed-in tariffs, the mean DAM price is lowered as compared to the previous value of the feed-in tariff. DAM prices only decrease with increasing installed wind capacity when a feed-in tariff of 0.04 €/kWh is provided. This is observed because all wind power being traded on DAM at a very cheap price. Hence, no volume of electricity is being stored for availability on IM. The regression models for predicting IM prices show that, with every 10% increase in installed capacity of wind power, the annualized IM price decreases by 0.031 and 0.34 €cents/kWh, when installed capacity of wind power is between 0 and 25%, and between 25 and 100%, respectively. The models also showed that, until the maximum installed capacity of wind power is less than 25%, the IM prices increase when the value of feed-in tariff is 0.01 and 0.04 €/kWh, but decrease for a feed-in tariff of 0.02 and 0.03 €/kWh. When installed capacity of wind power is between 25 and 100%, increasing feed-in tariffs to the value of 0.03 €/kWh result in lowering the mean IM price. However, at 0.04 €/kWh, the mean IM price is higher, showing the effect of no storage reserves being available on IM and more expensive reserves being engaged on the IM. The study concludes that the effect of increasing installed capacity of wind power is more significant on increasing consumption of renewable energy and decreasing the DAM and IM prices than the effect of feed-in tariffs. However, the effect of increasing values of both factors on the profit of RES-E producers with storage facilities is not positive, pointing to the need for customized rules and incentives to encourage their market participation and investment in storage facilities.

The increased penetration of distributed energy resources opens up issues in power system as a whole. This creates markets opportunities for ancillary services; particularly TSO deals with the issues of congestion management, reserves, reactive power control etc. Literature suggests different techniques where TSO and DSO interact with each other, and in this way, DSO can offer flexibility to TSO in terms of provision of ancillary services. The paper discusses the issues that the current power system face due to the profound effects of new generating resources, and then examines in detail the way these issues are resolved in a conventional manner. Then, the paper discusses some literature proposals for the interaction between TSO-DSO for solving the issues in an efficient manner, and finally presents the architecture where a Virtual Power Plant (VPP) is developed to facilitate DSO with a platform for the provision of ancillary services.

Distribution companies use time series to predict electricity consumption. Forecasting techniques based on statistical models or artificial intelligence are used. Reliable forecasts are required for efficient grid management in terms of both supply and capacity. One common underlying feature of most demand–related time series is a strong seasonality component. However, in some cases, the electricity demanded by a process presents an irregular seasonal component, which prevents any type of forecast. In this article, we evaluated forecasting methods based on the use of multiple seasonal models: ARIMA, Holt-Winters models with discrete interval moving seasonality, and neural networks. The models are explained and applied to a real situation, for a node that feeds a galvanizing factory. The zinc hot-dip galvanizing process is widely used in the automotive sector for the protection of steel against corrosion. It requires enormous energy consumption, and this has a direct impact on compan...

MAINTAINING A PERMANENT DIGITAL representation of power system equipment, controls, and protections is essential for predicting the overall behavior of the system and understanding the interactions among its various components. This digital model of electrical networks and their simulation allows operators, engineers, and planners to anticipate system responses under different conditions, thus ensuring the system’s stability, security, and efficiency (Figure 1). Such representations and related simulation tools are utilized by a wide range of stakeholders across a variety of applications. They serve as fundamental tools for both the planning and operation of the power grid. In planning, they help maximize transmission capacity while maintaining reliability and safety standards. In system operation, they are crucial for ensuring continuous, secure performance. Additionally, these models support investment decision making, regulatory audits, training initiatives, and policy development, providing a strong foundation for strategic and operational activities. In certain instances, simulation is not merely a best practice but a regulatory requirement. For example, the North American Electric Reliability Corporation (NERC) mandates the use of simulations to meet specific regulatory obligations, ensuring that critical infrastructure functions reliably under all operating conditions.

The electricity market is being deregulated all over the world. Deregulation has brought in a variety of trading systems such as day-ahead trading and has also introduced high volatility of electricity prices. The large variability of price increases the risk for the market participants and forces the business houses to look for a forecasting accuracy of about ± 3%. This paper provides a method to predict next-day electricity prices using dynamic regression methodology where the price was regressed on selected demand, as well as supply side variables available in the public domain, and the error has been modelled using ARIMA / SARIMA models. The results were found to be very encouraging with MAPE lying in the range of ± 3.5% in most cases. In order to reduce the complexity associated with developing many models, a clustering methodology was used to group the different hours of the day so as to reduce the number of forecasting models to be fitted. Agglomerative hierarchical clustering with single linkage was used and models for representative hours had the required level of accuracy.

The electricity market is being deregulated all over the world. Deregulation has brought in a variety of trading systems such as day-ahead trading and has also introduced high volatility of electricity prices. The large variability of price increases the risk for the market participants and forces the business houses to look for a forecasting accuracy of about ± 3%. This paper provides a method to predict next-day electricity prices using dynamic regression methodology where the price was regressed on selected demand, as well as supply side variables available in the public domain, and the error has been modelled using ARIMA / SARIMA models. The results were found to be very encouraging with MAPE lying in the range of ± 3.5% in most cases. In order to reduce the complexity associated with developing many models, a clustering methodology was used to group the different hours of the day so as to reduce the number of forecasting models to be fitted. Agglomerative hierarchical clustering with single linkage was used and models for representative hours had the required level of accuracy.

We introduce a new and highly tractable structural model for spot and derivative prices in electricity markets. Using a stochastic model of the bid stack, we translate the demand for power and the prices of generating fuels into electricity spot prices. The stack structure allows for a range of generator efficiencies per fuel type and for the possibility of future changes in the merit order of the fuels. The derived spot price process captures important stylized facts of historical electricity prices, including both spikes and the complex dependence upon its underlying supply and demand drivers. Furthermore, under mild and commonly used assumptions on the distributions of the input factors, we obtain closed-form formulae for electricity forward contracts and for spark and dark spread options. As merit order dynamics and fuel forward prices are embedded into the model, we capture a much richer and more realistic dependence structure than can be achieved by classical reduced-form mode...

Emissions trading markets have been touted as the most efficient mechanism to achieve environmental goals at least cost. Whether in the form of voluntary markets or in a mandatory framework like in the first phase of the European Union (EU) Emission Trading Scheme (ETS), the regulator sets a cap on the emissions which can occur without penalty, and provides emissions allowances accordingly. The recipients are free to use these emission certificates to cover their emissions, or to sell them to the firms which are expected to emit more than what they can cover with their original allocations. As observed in most existing programs, cap-and-trade systems can fail to reach their emission targets as too generous an allocation of pollution permits serves as a disincentive for emissions reductions and deflates pollution prices. Moreover, the implementation of the first phase of the EU-ETS has been widely criticized on one more sensitive account: providing significant (some went as far as calling them obscene) windfall profits for power producers. Here we weight on this debate with the results of a rigorous quantitative modeling undertaking, providing insight into what went wrong in the first phase of the EU-ETS, and proposing alternative reduction schemes with provable advantages. Using market equilibrium models and numerical tools, we demonstrate that properly designed marketbased pollution reduction mechanisms can reach pre-assigned emissions targets at low reduction cost and windfall profits, while being flexible enough to promote clean technologies. In the present article, we illustrate our claims with the results of a hypothetical cap-andtrade scheme for the Japanese electricity market. environmental finance | emission markets | cap-and-trade scheme

The European Union (EU) aims to realize the energy transition by increasing renewable energy production and enhancing the flexibility of the energy system. Vehicle-to-Grid (V2G) technology, which enables electric vehicles (EVs) to both draw power from and supply power back to the grid, presents a particularly important opportunity to contribute to this goal. However, this technology faces legal and regulatory barriers in some EU Member States, including Spain. This article investigates the contribution of V2G technology to sector coupling and examines its potential participation in balancing markets, with a specific focus on the Spanish context. Balancing markets are technically well-suited for V2G participation, but Spain's current legislation presents significant barriers. While EU level regulations supporting the integration of V2G technology were introduced under the Clean Energy for All Europeans Package, Spain’s delayed or incomplete transposition of these rules into national law continues to prevent V2G from entering the Spanish electricity balancing markets. The article analyzes the key legal and regulatory factors behind this limitation, particularly the market design favoring large-scale centralized production and the absence of a legal framework for independent aggregators. Nevertheless, it concludes that recent and ongoing legislative developments in Spain offer promising signs that these obstacles may be removed in the near future. This analysis is limited to legal and regulatory aspects and does not address technical, economic, or social dimensions of V2G deployment, which are also critical to achieving full integration.

In 2019, the most polluting power station in the Balearic Islands was partially closed down, marking the end of coal as the main energy source in the territory. In this work, we analyze the differences in the statistics of fluctuations of the electrical frequency before and after the closure.

This article explores how European Union (EU) law facilitates the integration of electric vehicles (EVs) into energy markets as flexibility resources. It analyses key legislative instruments including the Electricity Market Directive (EU) 2019/944, Electricity Regulation (EU) 2019/943, Renewable Energy Directive (EU) 2018/2001, Energy Performance of Buildings Directive (EU) 2018/844, and the Alternative Fuels Infrastructure Regulation (EU) 2023/1804. The study highlights the legal rights and obligations for EV owners, aggregators, and system operators, focusing on provisions related to demand response, grid connection, smart charging, and vehicle-to-grid (V2G) services. It shows that EU law increasingly supports a consumer-centric and technology-neutral electricity market that values flexibility, reduces grid stress, and enhances renewable integration through EV participation. The article concludes that while the legal framework is largely enabling, effective implementation at the national level remains essential to unlocking the full potential of EVs in the EU power system.

As the integration of variable renewable energy (VRE), such as wind and solar, continues to escalate within electric power systems, a host of technical challenges emerges, primarily centered around the imperative to uphold equilibrium between electricity demand and generation across all timescales. This paper delves into the intricacies of integrating ultra-high levels of VRE into electric power systems, scrutinizing the challenges inherent in this endeavor. Furthermore, it offers an extensive review of potential solutions to these challenges, ranging from technological advancements to regulatory frameworks. Additionally, this paper highlights several noteworthy examples of ultra-high VRE systems currently operational, shedding light on their design, implementation, and performance within real-world contexts. Through comprehensive analysis and examination, this paper aims to provide insights into the complexities and opportunities associated with the integration of VRE into modern electric power systems.

Agradeço primeiramente a Deus, por sempre ter me iluminado e por ter me dado forças para seguir em frente durante todos esses anos de curso. Agradeço a toda minha família, em especial ao meus pais Augusto e Helena e minha irmã Vitória, por todo o apoio e esforço feito para garantir meu bem estar durante todo o tempo de graduação em que eu estive longe de casa, sem eles nada disso seria possível. Agradeço imensamente ao meu tio Paulo e sua esposa Jeane, pelo apoio, suporte e acolhimento durante esses anos, com certeza foram essenciais em minha formação. Agradeço aos meus amigos de longa data, Ana Ariella, Guilherme Cordeiro e Luiz Henrique, que mesmo distante, sempre se mostraram presentes e estiveram ao meu lado. Agradeço a todos os amigos que fiz em Campina Grande, especialmente Fernando

This Discussion Paper is issued under the auspices of the Centre's research programme in INDUSTRIAL ORGANIZATION. Any opinions expressed here are those of the author(s) and not those of the Centre for Economic Policy Research. Research disseminated by CEPR may include views on policy, but the Centre itself takes no institutional policy positions. The Centre for Economic Policy Research was established in 1983 as a private educational charity, to promote independent analysis and public discussion of open economies and the relations among them. It is pluralist and non-partisan, bringing economic research to bear on the analysis of medium-and long-run policy questions. Institutional (core) finance for the Centre has been provided through major grants from the Economic and Social Research Council, under which an ESRC Resource Centre operates within CEPR; the Esmée Fairbairn Charitable Trust; and the Bank of England. These organizations do not give prior review to the Centre's publications, nor do they necessarily endorse the views expressed therein. These Discussion Papers often represent preliminary or incomplete work, circulated to encourage discussion and comment. Citation and use of such a paper should take account of its provisional character.

A energia eléctrica é um bem essencial para a maioria das sociedades. O seu fornecimento tem sido encarado como um serviço público, da responsabilidade dos governos, através de empresas monopolistas, públicas e privadas. O Mercado Ibérico de Electricidade (MIBEL) surge com o objectivo da integração e cooperação do sector eléctrico Português e Espanhol, no qual é possível negociar preços e volumes de energia. Actualmente, as entidades podem negociar através de um mercado bolsista ou num mercado de contratos bilaterais. Uma análise dos mercados de electricidade existentes mostra que estes estão longe de estarem liberalizados. As tarifas não reflectem o efeito da competitividade. Além disso, o recurso a contratos bilaterais limita frequentemente os clientes a um único fornecedor de energia eléctrica. Nos últimos anos, têm surgido uma série de ferramentas computacionais que permitem simular, parte ou a totalidade, dos mercados de electricidade. Contudo, apesar das suas potencialidades, muitos simuladores carecem de flexibilidade e generalidade. Nesta perspectiva, esta dissertação tem como principal objectivo o desenvolvimento de um simulador de mercados de energia eléctrica que possibilite lidar com as dificuldades inerentes a este novo modelo de mercado, recorrendo a agentes computacionais autónomos. A dissertação descreve o desenho e a implementação de um simulador simplificado para negociação de contratos bilaterais em mercados de energia, com particular incidência para o desenho das estratégias a utilizar pelas partes negociais. Além disso, efectua-se a descrição de um caso prático, com dados do MIBEL. Descrevem-se também várias simulações computacionais, envolvendo retalhistas e consumidores de energia eléctrica, que utilizam diferentes estratégias negociais. Efectua-se a análise detalhada dos resultados obtidos. De forma sucinta, os resultados permitem concluir que as melhores estratégias para cada entidade, no caso prático estudado, são: a estratégia de concessões fixas, para o retalhista, e a estratégia de concessões baseada no volume de energia, para o consumidor.

More and more frequently policy-makers are urged to assess the impact of their strategies and policies in terms of sustainable development. This necessitates the use of applied scientific models as tools for identifying and evaluating the likely environmental, economic and social impacts of alternative policies. The objective of this paper is to provide a framework to help decision-makers choose the most appropriate -or the most appropriate mix -of models, by assessing their relative strengths and weaknesses. The paper also allows potential improvements in modeling techniques to be identified. Six modeling paradigms are assessed, both on a general basis and with respect to two specific policy contexts (energy policy, and land use and transport planning).

The large increase of renewable energy sources and Distributed Generation (DG) of electricity gives place to the Virtual Power Producer (VPP) concept. VPPs can reinforce the importance of these generation technologies making them valuable in electricity markets. One of the most important tasks of a VPP is the conjugation of technologies to obtain a consistent set of associated producers and allow them to operate in the electric market. This paper presents some characteristics regarding already existent technologies and relevant aspects for producers and for VPP.

L'inconvénient principal des énergies renouvelables est d'être intermittentes, c'est d'ailleurs l'argument principal utilisé par leurs opposants, comme ils l'ont exploité après le blackout intervenu récemment dans la péninsule ibérique. Cependant, il existe des solutions de stockage de l'électricité comme le pompage turbinage.

This paper gives an overview of a turbulent time for the regulator and distribution system operators (DSO) in Sweden since the de-regulation of the electricity market in 1996. A performance based ex-post model was introduced 2003 as a tool to judge distribution system tariffs. This model is since 2009 formally abandoned and a new exante regulation will be introduced in 2012. The aim of this paper is to learn from both unique and novel approaches such as less good experiences. The paper describes the history, the current situation and planed future regulations and describes additional relevant laws.

This paper presents a comparative study of regulating policies for interruption of supply in Sweden and UK. The two regulating regimes have been applied for a case study with a real rural electrical distribution system in Sweden, Flymen. The Swedish and UK regulations state that the distribution system operators (DSO) should restore power delivery to customers within 12 and 18

Maximum asset performance is one of the major goals for electric power system managers. To reach this goal minimal life cycle cost and maintenance optimization become crucial while meeting demands from customers and regulators. One of the fundamental objectives is therefore to relate maintenance and reliability in an efficiently and effectively way, which is the aim of several maintenance methods such as the Reliability Centered Maintenance method (RCM). Furthermore, this necessitates the determination of the optimal balance between preventive and corrective maintenance to obtain the lowest total cost. This thesis proposes methods for defining the importance of individual components in a network with respect to total interruption cost. This is a first step in obtaining an optimal maintenance solution. Since the methods consider several customer nodes simultaneously, they are especially suitable for network structures that serve many purposes/customers e.g. transmission and distribution networks with more than one load point. The major results are three component reliability importance indices, which are applied in two case studies. The first case study is based on a network in the Stockholm area. The second case study is performed for one overhead line system in the rural parts of Kristinehamn. The application studies demonstrate that the indices are possible to implement for existing electrical networks and that they can be used for maintenance prioritization. Consequently these indices constitute a first step in the overall objective of a maintenance optimization method. The computations of the indices are performed both with analytical and simulation based techniques. Furthermore, the indices can be used to calculate the component contribution to the total system interruption cost. The approach developed for the importance indices can be utilized in any multi-state network that can be measured with one performance indicator.

for valuable comments. We thank Mackenzie Humble for assistance assembling the price data from CAISO. We have not received any financial compensation for this project nor do we have any financial relationships that relate to this research. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

The experience of liberalized electricity markets' ability to allocate scarce energy resources has been mixed. In this paper, we analyze how liberalized markets allocate power in the short and long run through the interaction between the spot and end-user markets. We show that totally inelastic demand in the spot market does not necessarily result in market failure in a shortage situation, as long as price incentives are transferred to the end-user markets. We argue that the market does not have to run optimally to handle a shortage situation, and that problems with short-or long-run allocation of power arise when price restrictions in end-user markets results in a higher demand than that which may sustain the energy situation over time.

The entire electricity infrastructure and associated socio-technical system including transmission and distribution networks, the system operator, suppliers, generators, consumers and market mechanisms will need to evolve to realize the full potential of smart-grids. At the heart of this evolution is the integration of information and communication technology (ICT) and energy infrastructures for increasingly decentralized development, monitoring and management of a resilient grid. This paper identifies the challenges of integration and four key areas of future research and development at the intersection of energy and ICT: standards-based interoperability, reliability and security, decentralized and self-organizing grid architecture, and innovative business models to unlock the potential of the energy value chain. The ideas postulated here are envisaged to act as a starting-point for future R&D direction.

The aim of this paper is to investigate the coupled oscillations of multiple bubbles within a cluster. The interaction between a bubble and the other bubbles in a cluster produces an additional mass. For a fixed number of bubbles and uniformly distributed (N ---gt------gt--- 1), in case of a certain value of the bubbles number density, we deduce the relations analogous to the Eddington relation (between the cluster radius and the bubble radius) and the Sciama relation (between the cluster radius and the gravitoacoustic radius) according to Mach’s Principle.

Lecture Script: EVs, Balancing Markets, and Cross-Border Electricity in the EU "How EVs Are Changing Electricity Markets in Europe"-Introduction "Hi everyone! Today we're going to explore how electric vehicles-or EVs-are playing a big role in keeping Europe's electricity system stable and efficient. We'll focus on balancing markets, cross-border electricity flows, and how EU reforms made it possible for EVs to support the grid on a larger scale."-What Are Balancing Markets? "Let's start with a basic question: What happens when electricity demand doesn't match supply?

Abstract: - A definition of medium voltage (MV) load diagrams was made, based on the data base knowledge discovery process. Clustering techniques were used as support for the agents of the electric power retail markets to obtain specific knowledge of their customers' ...

Después de casi dos décadas de funcionamiento del experimento chileno, y una del inglés, sus experiencias han dado la vuelta al mundo y numerosos países han adoptado o están en vías de adoptar un modelo que favorece la competencia en el mercado mayorista de energía, basado en parte en el esfuerzo pionero de estos países. Como sucede muchas veces con pioneros exitosos, los padres de cada modelo se convierten en sus más fervorosos apologistas, preconizando su validez para todo tipo de situaciones independientemente de las condiciones especificas de cada caso. Es así como los modelos chileno e inglés constituyeron los troncos de dos familias que, si bien cuentan con muchos rasgos comunes, su forma y funciones obedecen a condiciones particulares de tiempo y lugar. Si bien en muchos casos los imitadores, aprendiendo de los errores de los pioneros, introdujeron mejoras importantes como en La Argentina, en otros, como sería el caso del transplante del modelo inglés a sistemas predominantemente hidráulicos, se forzaron una forma y funciones que correspondían a otras realidades, dando lugar a costos que pudieran haber sido evitados. En particular, los noruegos destacan como ejemplo de un transplante cuidadoso, ajustado a su realidad histórica y física y que ha obtenido resultados aparentemente satisfactorios por un período apreciablemente largo. Sin embargo, en este preciso momento tanto Inglaterra como Chile se encuentran revisando radicalmente la estructura de intercambios de energía en sus sistemas por considerar que adolecen de fallas protuberantes. Quiere decir esto que sus sistemas fracasaron y que los países que siguieron sus huellas deben alertarse y de inmediato ajustar asimismo sus modelos?. 0, aun más, quiere decir esto que el experimento fracasó y que tenían razón los enemigos de la reforma y quienes aseguraban que es imposible montar un modelo competitivo en el mercado mayorista de electricidad? Por otra parte, los llamados reformistas de segunda generación como España, Estados Unidos, Australia y Nueva Zelanda han tenido oportunidad de estudiar las experiencias de los pioneros y sus imitadores con más detalle, presentando soluciones alternativas sofisticadas. Estas soluciones muchas veces se obtuvieron con el apoyo de un grupo de académicos y expertos que le confirieron el toque casi religioso a las discusiones, que yo pensé sólo se daba entre los hidrólogos. Este artículo pretende responder a estos interrogantes (o añadir a la confusión) siguiendo el método utilizado con éxito por otros autores como Sioshansi 1 y por Henney 2 , que busca 1

The article presents calculations and power flow of a real virtual power plant (VPP), containing a fragment of low and medium voltage distribution network. The VPP contains a hydropower plant (HPP), a photovoltaic system (PV) and energy storage system (ESS). The purpose of this article is to summarize the requirements for connection of generating units to the grid. Paper discusses the impact of the requirements on the maximum installed capacity of distributed energy resource (DER) systems and on the parameters of the energy storage unit. Firstly, a comprehensive review of VPP definitions, aims, as well as the characteristics of the investigated case study of the VPP project is presented. Then, requirements related to the regulation, protection and integration of DER and ESS with power systems are discussed. Finally, investigations related to influence of DER and ESS on power network condition are presented. One of the outcomes of the paper is the method of identifying the maximum po...

The introduction of performance based tariff regulations, and higher media and political pressure have increased the need for well-performed asset management in the operation and planning of electrical distribution systems. In this paper quantitative reliability assessment methods are proposed as a tool to meet these new incentives. Electrical distribution systems have compared to other technical systems several special characteristics which are important to take into consideration when introducing reliability analysis methods. Moreover, the paper gives a brief discussion on the effects and the importance of customer participation in improving system reliability by providing additional system operating reserve from the market perspective. Finally, the paper discusses the reliability analysis with the reliability test systems, and stresses the usefulness of generally known test systems for such assessments. The ideas of future work on development of these test systems to address the changing power systems are presented.

The European Union introduced the EU Emissions Trading Scheme (ETS) in 2005, which places a cap on aggregate emissions from the most energy-intensive industrial sectors. In the first two market phases, firms received allocations mostly at no cost. The general public took issue with the fact that firms raised their output prices despite free allowance allocation, reaping so-called "windfall profits." Providing allowances for free implies that the polluters receive the scarcity rent, whereas sound reasons exist to distribute these rents differently (e.g., Bovenberg and Goulder, 2000). 2. Smale et al. (2006) focused on the other sectors covered by the EU ETS and found positive but smaller cost passthrough rates that varied with the degree of a sector's exposure to competition from firms outside the EU. Due to transmission constraints, outside competition is almost zero for the power sector.

A dynamic potential game theoretic production planning framework is presented in which production plants are treated as individual competing entities and competition occurs dynamically over a discrete finite time horizon. A modified Cournot oligopoly with sticky prices provides the basis for dynamic game theoretic competition in a multimarket nonlinear and nonconvex production planning model wherein market price adapts to a value that clears cumulative market supply. The framework is used to investigate a petrochemical refining scenario in which a single inefficient refiner faces elimination by its competitors; we demonstrate that there exist conditions under which the threatened refiner may upgrade itself to become competitive and escape the threat, or alternatively in which the threat of elimination is illegitimate and the refiner is effectively safe in the given market configuration. Globally optimal dynamic Nash equilibrium production trajectories are presented for each case. © ...