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An agent-based model of the German electricity market with short-time uncertainty factors 考虑短期不确定性因素的德国电力市场代理模型
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861215
Andreas Bublitz, M. Genoese, W. Fichtner
{"title":"An agent-based model of the German electricity market with short-time uncertainty factors","authors":"Andreas Bublitz, M. Genoese, W. Fichtner","doi":"10.1109/EEM.2014.6861215","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861215","url":null,"abstract":"This paper proposes an agent-based model for the German wholesale electricity market that accounts for short-time uncertainty factors such as power plant outages or fluctuating renewable energy sources. The model is highly detailed using hourly values for the national demand and the feed-in from renewable energy sources as well as daily prices for carbon, coal, gas and oil. Each power plant in Germany with a capacity of more than 10 MW is considered in the model. Generation companies are represented by agents that submit bids into the market based on variable costs, start-up costs and minimal startup times of their generation capacities. In order to validate the model, a simulation is run which demonstrates that the model is well capable of replicating historical market results.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129597135","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}
引用次数: 10
Model development of the electrical power system shaped by forecast values of the electricity market using example data of the IEEE RTS test system 利用IEEE RTS测试系统的实例数据，对电力市场预测值形成的电力系统进行模型开发
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861268
J. Tchórzewski
{"title":"Model development of the electrical power system shaped by forecast values of the electricity market using example data of the IEEE RTS test system","authors":"J. Tchórzewski","doi":"10.1109/EEM.2014.6861268","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861268","url":null,"abstract":"The paper presents results of electrical power system identification shaped by selected values of the electrical power market, which identification is conducted using IEEE RTS test data. Development of such a model is an extremely important step of designing electrical power system development, especially as regards forecasting power of generators as well as fixed and variable costs of system development, etc. The EE system model was obtained by taking six input variables, i.a. total existing active power and forecast demand for active power increase as well as three output variables, i.a. forecast power of generators and forecast additional fixed and variable costs. Parametric models and models in state space were obtained. State variable courses were shown.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124451096","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}
引用次数: 3
Challenges of cross-border trade between two markets with different designs 两个设计不同的市场之间跨境贸易的挑战
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861294
O. Gore, S. Viljainen
{"title":"Challenges of cross-border trade between two markets with different designs","authors":"O. Gore, S. Viljainen","doi":"10.1109/EEM.2014.6861294","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861294","url":null,"abstract":"This paper discusses the challenges of cross-border trade between two electricity markets that have distinctively different market designs, namely the Nordic `energy-only' market and the capacity-based Russian market. The results presented in this paper are based on empirical and theoretical analysis concerning the use of the interconnector between the Nordic and Russia markets under different kinds of cross-border trade arrangements. The analysis shows that the possible short-term consequences of having an energy-only market on one side and a capacity-based market on the other side include the inefficient use of the interconnector capacities and inverse flows between the two markets. Market coupling is a feasible way to organize the cross-border trade even when the market designs differ. However, the existence of unilateral subsidy schemes, whether related the firm electricity generation, may give raise to concerns about the distributional effects.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"163 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115749263","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}
引用次数: 2
Robust Self Exciting Threshold AutoRegressive models for electricity prices 电价鲁棒自激阈值自回归模型
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861246
L. Grossi, F. Nan
{"title":"Robust Self Exciting Threshold AutoRegressive models for electricity prices","authors":"L. Grossi, F. Nan","doi":"10.1109/EEM.2014.6861246","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861246","url":null,"abstract":"In this paper we suggest the use of robust GM-SETAR (Self Exciting Threshold AutoRegressive) processes to model and forecast electricity prices observed on deregulated markets. The robustness of the model is achieved by extending to time series the generalized M-type (GM) estimator first introduced for independent multivariate data. As it has been shown in a very recent paper [1], the polynomial weighting function over-performs the classical ordinary least squares method when extreme observations are present. The main advantage of estimating robust SETAR models is the possibility to capture two very well-known stylized facts of electricity prices: nonlinearity produced by changes of regimes and the presence of sudden spikes due to inelasticity of demand. The forecasting performance of the model applied to the Italian electricity market (IPEX) is improved by the introduction of predicted demand as an exogenous regressor. The availability of this regressor is a particular feature of the Italian market. By means of prediction performance indexes and tests, it will be shown that this regressor plays a crucial role and that robust methods improve the overall forecasting performance of the model.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"129 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134227426","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}
引用次数: 4
Value of price dependent bidding for thermal power producers 火电生产企业的价格依赖型投标价值
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861245
Erik B. Rudlang, Carl Fredrik Tjeransen, Stein-Erik Fleten, Gro Klaboe
{"title":"Value of price dependent bidding for thermal power producers","authors":"Erik B. Rudlang, Carl Fredrik Tjeransen, Stein-Erik Fleten, Gro Klaboe","doi":"10.1109/EEM.2014.6861245","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861245","url":null,"abstract":"The steady increase in the short-term trading of electricity through power exchanges has made the investigation of appropriate bidding strategies relevant. The goal of this paper is to quantify the difference between price-dependent and price-independent bidding strategies for thermal power producers. The two bidding strategies are evaluated for trading in the German-Austrian day ahead market. Optimal bidding decisions are found through two stochastic optimization models. The results indicate that the price-dependent bids outperform the price-independent bids by utilizing the flexibility in the generators to increase production in the case of price peaks and reduce production for price drops.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124235368","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}
引用次数: 1
Cross-border effects of capacity mechanisms 能力机制的跨界效应
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861269
Pradyumna C. Bhagwat, Kaveri Iychettira, L. D. de Vries
{"title":"Cross-border effects of capacity mechanisms","authors":"Pradyumna C. Bhagwat, Kaveri Iychettira, L. D. de Vries","doi":"10.1109/EEM.2014.6861269","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861269","url":null,"abstract":"This paper uses an agent-based model of interconnected electricity market to analyze the cross-border impact of a capacity market and a strategic reserve on consumer costs and on investment in generation capacity in the affected markets. We find that both capacity mechanisms can improve investment signals and cause positive cross border effects. The interconnected energy-only market could free ride on the additional capacity and may deter investment in this market. If a capacity market and a strategic reserve are implemented in neighboring regions, there appears to be a negative spillover effect on the strategic reserve due to the capacity market.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122715706","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}
引用次数: 14
Market price signals for customers for compensation of reactive power 市场价格信号为客户提供无功补偿
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861235
T. Vaskovskaya
{"title":"Market price signals for customers for compensation of reactive power","authors":"T. Vaskovskaya","doi":"10.1109/EEM.2014.6861235","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861235","url":null,"abstract":"Reactive power management is very important for solving of problems related to electricity production, transmission and consumption. It is well known that compensation of reactive power increases voltage, reduces power losses and saves fuel resources aimed to produce electricity. Compensation of reactive power makes lines and transformers be able to deliver more power without overloading the equipment that is to relieve transmission constraints. It is also well known that locational marginal price (LMP) for active power depend on energy price, power losses and transmission constraints components. Therefore, LMPs depend on the value of consumed reactive power. This research shows that LMP can be considered as price signals for consumers for compensation of reactive power. The compensation of reactive power results in a decrease of electricity cost and can be used by the consumer in order to control electricity prices.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117159060","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}
引用次数: 3
Evaluation of margining solutions for the power market spot products 电力市场现货产品边际解决方案的评估
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861281
M. Bagherpour
{"title":"Evaluation of margining solutions for the power market spot products","authors":"M. Bagherpour","doi":"10.1109/EEM.2014.6861281","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861281","url":null,"abstract":"The required amount of collateral (margin) for buyers and sellers of electricity in spot market depends on the committed risk management limits to fulfill necessary margining requirements. Different models are offered to calculate base collateral as a function of maximum net short position for a single delivery day, historical worst case difference between the index price and the market price, closing horizon, distribution of margining account balance, short-term interest rate, etc. While the general framework of these models is similar, they differ in the way they incorporate historical exposure, volatility and risk parameters. This paper provides an extensive insight over the performance of margining models based on an empirical study of Day-Ahead spot market trades data in Nord Pool Spot (2011-2013). The findings provide a basis for constructing a margin efficiency optimizing model to choose margin models and calibrate their parameters.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121807068","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}
引用次数: 4
Compensation of demand response in competitive wholesale markets vs. retail incentives 竞争性批发市场对零售激励的需求响应补偿
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861229
A. Negash, D. Kirschen
{"title":"Compensation of demand response in competitive wholesale markets vs. retail incentives","authors":"A. Negash, D. Kirschen","doi":"10.1109/EEM.2014.6861229","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861229","url":null,"abstract":"In 2011 the Federal Energy Regulatory Commission (FERC) issued a landmark ruling, FERC Order 745, standardizing the compensation of demand response (DR) in competitive wholesale markets. According to this order, demand response resources participating in competitive wholesale energy markets must, like generators, be paid full locational marginal price (LMP). Many economists opposed this ruling and argued that the most efficient method is to offer dynamic prices and naturally, demand reductions are rewarded with the avoided cost of the energy not used. One of the main arguments against the order is the fact that by paying LMP for demand reductions, the market collects less in revenue than it must pay out for resources, a phenomenon known as “the billing unit effect” and must therefore, allocate the shortfall. In this paper we compare wholesale DR compensation to retail level incentives. We define demand response as a short-term added cost for the load serving entity (LSE), voluntarily paid in order to save money over the long run. Based on this view of DR, we propose a benefit sharing incentive scheme at the retail level. This scheme involves the use of a publicly broadcast grid state index implemented by the California Independent System Operator (CAISO).","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114277372","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}
引用次数: 4
Optimal operation of variable speed pumped storage hydropower plants participating in secondary regulation reserve markets 参与二次调节储备市场的变速抽水蓄能水电站优化运行
11th International Conference on the European Energy Market (EEM14) Pub Date : 2014-05-28 DOI: 10.1109/EEM.2014.6861264
Manuel Chazarra, J. Pérez-Díaz, J. García-González
{"title":"Optimal operation of variable speed pumped storage hydropower plants participating in secondary regulation reserve markets","authors":"Manuel Chazarra, J. Pérez-Díaz, J. García-González","doi":"10.1109/EEM.2014.6861264","DOIUrl":"https://doi.org/10.1109/EEM.2014.6861264","url":null,"abstract":"Pumped storage hydropower plants can contribute to a better integration of intermittent renewable energy and to balance generation and demand in real time by providing rapid-response generation. In order to invest in a new pumped storage plant, it is necessary to assess carefully the profitability of the project as the recovery of investment costs could be jeopardised by many factors. Apart from participating in the day-ahead market, ancillary services can also play an important role when determining the incomes. The aim of this paper is to make a preliminary comparison of pumped storage plant's market incomes with and without ability to regulate power in pumping mode through variable speed technology. A deterministic mixed-integer programming model is proposed to calculate power bids for the day-ahead and secondary regulation markets. The model considers the hourly day-ahead and secondary reserve market prices as well as usage and prices of secondary regulation-up and down energy requested by the Spanish System Operator.","PeriodicalId":261127,"journal":{"name":"11th International Conference on the European Energy Market (EEM14)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114366549","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}
引用次数: 33
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