{"title":"Price formation and market power in a low carbon electricity system","authors":"I. Morrow, D. Bunn","doi":"10.1109/EEM.2011.5953126","DOIUrl":"https://doi.org/10.1109/EEM.2011.5953126","url":null,"abstract":"We consider an agent-based model of forward trading in electricity. Electricity suppliers and generators buy and sell power in three stylized markets: the forward market, the intra-day or prompt market and the real-time spot or ancillary services market. Using computational learning, we develop a model whereby agents' strategies are determined by evolved neural networks of arbitrary size and topology. In a high carbon system similar to today's conventional fossil-fuel based supply stacks, simple strategies for both agents emerge. When substantial wind generation is included, however, these strategies are seen to be no longer appropriate. New insights relating to the impact of wind on fossil generator market power have substantial implications for price formation and the investment signals regarding peaking capacity.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127275631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Assessment of the market power cost in liberalised electricity markets using SMPI, PMPI, and NMPI indicators","authors":"M. Hesamzadeh, M. Amelin","doi":"10.1109/EEM.2011.5953127","DOIUrl":"https://doi.org/10.1109/EEM.2011.5953127","url":null,"abstract":"Market power analysis is one of the major issues facing regulators of wholesale electricity markets. The exercise of market power both distorts wholesale price signals and reduces the efficiency of the operation of and investment in the wholesale electricity market. This paper deals with a systematic way for quantifying and visualising market power. The paper first proposes three indicators termed the System Market Power Indicator, SMPI, the Producer Market Power Indicator, PMPI, and the Nodal Market Power Indicator, NMPI. The game theory in applied mathematics and the concept of social welfare in microeconomics are used in formulating of these indicators. The SMPI finds the total cost of exercising market power by generating companies. The contribution of a specific generating company in system market power is calculated using the PMPI. The NMPI finds the contribution of each power system node in the total market power cost. Then after, a colour contour map is used to visualise the exercise of market power and its associated cost. The proposed market power indicators are applied to the modified Garver's example system to show the promising performance of these indicators.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123080877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The customer perspective of the electric vehicles role on the electricity market","authors":"P. Grahn, L. Soder","doi":"10.1109/EEM.2011.5952997","DOIUrl":"https://doi.org/10.1109/EEM.2011.5952997","url":null,"abstract":"Recent studies have investigated the impact and effects of using batteries in connected electric vehicles as ancillary services to the electricity grid. A common assumption made is that all parked cars are connected to the grid and available for recharging or discharging. However, the level of flexibility of people's behavior is important and will affect the potential of using car batteries for regulation power. How customers will react if they are expected to recharge or discharge whenever the electric system need it, will depend on incentives and peoples willingness to adapt. This paper reviews existing research regarding electric vehicles and their interaction with the electric power system and investigate conditions for a potential use of the batteries as regulation power. The customer perspective of the electric vehicle's role on the electricity market is analyzed considering participation in the control power market.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121525225","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I. Lampropoulos, J. Frunt, S. Pagliuca, W. D. de Boer, W. Kling
{"title":"Evaluation and assessment of balancing resources","authors":"I. Lampropoulos, J. Frunt, S. Pagliuca, W. D. de Boer, W. Kling","doi":"10.1109/EEM.2011.5958737","DOIUrl":"https://doi.org/10.1109/EEM.2011.5958737","url":null,"abstract":"The underlying philosophy while planning the operation of the power system used to be based on maintaining security margins. However, this approach with increasing fluctuating energy sources involves higher costs and leads to assets under-utilisation. The system was mainly built by creating the supply side and minor attention was paid in controlling the demand side. With the effort to accommodate larger shares of renewable energy sources, while continuously maintaining the power balance and ensuring the reliability of the power system, the implementation of demand response mechanisms may provide considerable options to reshape the demand profile for electrical energy. This study aims to create further knowledge on the potentials of residential demand response concepts, while focusing on the Netherlands.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129754831","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
H. Keko, M. D. da Rosa, J. Sumaili, Vladimiro Miranda
{"title":"Wind power forecast uncertainty in daily operation of wind park combined with storage","authors":"H. Keko, M. D. da Rosa, J. Sumaili, Vladimiro Miranda","doi":"10.1109/EEM.2011.5953114","DOIUrl":"https://doi.org/10.1109/EEM.2011.5953114","url":null,"abstract":"The inevitable wind power forecast errors result in differences between forecasted and observed wind power. To mitigate their economic impact, combining the wind power with pumped hydro energy storage may be used. In order to deliver a joint operational strategy for a wind power plant combined with storage, one requires reliable wind power forecasts. The forecasts commonly only consist of a single-value forecast (point forecast) for each look-ahead time. However, additional representative information concerning the forecast uncertainty may be required. In this paper, the influence of uncertainty representation daily operation for a wind power plant combined with pumped hydro storage is discussed. The paper illustrates how uncertainty representations such as Gaussian uncorrelated errors may also not be satisfactory. Based on a case study with a wind power plant combined with pumped hydro storage, organized for illustrative purposes, the paper demonstrates the need to have uncertainty representation including cross-period dependencies, in order to define a correct operation policy.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131098383","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Forecasting next-day electricity prices by a neural network approach","authors":"D. Menniti, N. Scordino, N. Sorrentino","doi":"10.1109/EEM.2011.5953010","DOIUrl":"https://doi.org/10.1109/EEM.2011.5953010","url":null,"abstract":"Forecasting short-term electricity market prices has been the focus of several studies in recent years. Although various approaches have been examined, achieving sufficiently low forecasting errors has not been always possible. However, certain applications, such as demand-side management, do not require exact values for future prices but utilize averages values as the basis for making short-term scheduling decisions. With the aim of enhancing the accuracy of the next-day electricity price forecasting, this paper proposes an approach to forecast the day-ahead electricity prices by means of n Artificial Neural Networks (ANNs), based on the estimation of the mean prices of n blocks of hours, with n identified according to the values of correlation factors computed on the basis of field records of the Italian electricity market. Simulation results show that forecasting next-day prices on an hourly basis induces to an error which results worse than the one made when average prices are forecasted according to groups of hours.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130046358","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Multiyear transmission expansion planning using discrete evolutionary particle swarm optimization","authors":"Manuel Costeira da Rocha, Joao TomeSaraiva","doi":"10.1109/EEM.2011.5953119","DOIUrl":"https://doi.org/10.1109/EEM.2011.5953119","url":null,"abstract":"The objective of Transmission Expansion Planning (TEP) is to obtain a plan to expand or reinforce a transmission network that minimizes construction and operational costs while satisfying the requirement of delivering electricity safely and reliably to load centres along the planning horizon. This definition is quite simple, but the complexity of the problem and the impact on society transforms TEP on a challenging issue. The objective of this paper is the introduction of a new discrete approach to solve dynamic TEP, based on an improved version of the Evolutionary Particle Swarm Optimization (EPSO) meta-heuristic algorithm. The paper includes sections describing the Discrete EPSO (DEPSO), an enhanced approach of EPSO, the mathematical formulation of the problem, including the objective function and constraints, and the application of DEPSO to this problem. Finally, the use of the developed approach is illustrated using Case Studies based on the Garver network and on the IEEE 24 bus / 38 branch test system.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134103886","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Przemyslaw Stangierski, M. Przybylik, Krzysztof Jedziniak, W. Luczak, Marcin Moczyrog
{"title":"Smart grid ready concept","authors":"Przemyslaw Stangierski, M. Przybylik, Krzysztof Jedziniak, W. Luczak, Marcin Moczyrog","doi":"10.1109/EEM.2011.5952976","DOIUrl":"https://doi.org/10.1109/EEM.2011.5952976","url":null,"abstract":"The need for advanced technological solutions in the energy sector has become more important during the past few years. Most distribution system operators (DSOs) are seeking new paths to decrease grid losses and to gain more control over distribution assets. Many players are hoping that smart grids will revolutionize the energy sector and bring significant benefits to energy companies and customers. However, uncertainties in three areas are keeping companies from making major smart grid investments. The Smart Grid Ready concept structures investments so that the final solutions are resistant to technological, regulatory and customer acceptance uncertainties. Additionally, the concept helps maintain the interoperability of completed solutions. This paper offers ways to address projects dealing with innovations and market disruptions. The approach has already been used to deploy advanced metering infrastructure.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"160 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122039155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Possible savings in electricity transmission using wide area monitoring technologies in Croatian power transmission network","authors":"Zoran Zbunjak, I. Kuzle","doi":"10.1109/EEM.2011.5953062","DOIUrl":"https://doi.org/10.1109/EEM.2011.5953062","url":null,"abstract":"Since the economic aspect arose over the technical regarding the development of the infrastructure of electrical power systems, new guidelines and ideas began to emerge particularly in terms of control, measurement and protection of the system. This paper describes concept and functions of wide area monitoring, protection and control in the real time in order to reduce costs that could be caused by future investments in building the infrastructure of electrical power system. Also, the paper considers the aspects of implementation of renewable energy sources on the example of wind farm Vrataruša and describes the conceptual design of automatic control for that part of the power transmission network.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124669811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Agent-based simulation of new energy markets","authors":"S. Tomic, Domagoj Drenjanac","doi":"10.1109/EEM.2011.5952988","DOIUrl":"https://doi.org/10.1109/EEM.2011.5952988","url":null,"abstract":"This paper presents a simulation framework that is being developed to evaluate possible setup of an electricity market which includes grid-agile customers who trade their capability to control their load or offer energy from their renewable sources. The framework is based on the multi-agent technology with agents presenting the building blocks for realization of different market actors.","PeriodicalId":143375,"journal":{"name":"2011 8th International Conference on the European Energy Market (EEM)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125328507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}