scholarly journals The Interval Stability of an Electricity Market Model

2014 ◽  
Vol 2014 ◽  
pp. 1-8 ◽  
Author(s):  
Weijuan Wang ◽  
Zhanhui Lu ◽  
Quanxin Zhu
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
System Stability ◽  
Market Model ◽  
Demand Elasticity ◽  
Interval Model ◽  
Market Dynamic ◽  
Inequality Theory ◽  
Market Framework ◽  
The Stability

Combined with the electric power market dynamic model put forward by Alvarado, an interval model of electricity markets is established and investigated in this paper pertaining to the range of demand elasticity with suppliers and consumers. The stability of an electricity market framework with demand elasticity interval is analyzed. The conclusions characterizing the interval model provided are derived by constructing a suitable Lyapunov function and using the theory of interval dynamical system in differential equations and matrix inequality theory and so forth. Applying the corollary obtained can judge the system stability by available data about demand elasticity. The obtained results are validated and illustrated by a case example.

scholarly journals Electricity Market Stochastic Dynamic Model and Its Mean Stability Analysis

2014 ◽  
Vol 2014 ◽  
pp. 1-8 ◽  
Author(s):  
Zhanhui Lu ◽  
Weijuan Wang ◽  
Gengyin Li ◽  
Di Xie
Keyword(s):  
Dynamic Model ◽  
Electricity Market ◽  
Random Excitation ◽  
Quadratic Functions ◽  
Market Model ◽  
Demand Elasticity ◽  
Stochastic Dynamic ◽  
Deterministic Dynamic ◽  
Gauss Type ◽  
The Stability

Based on the deterministic dynamic model of electricity market proposed by Alvarado, a stochastic electricity market model, considering the random nature of demand sides, is presented in this paper on the assumption that generator cost function and consumer utility function are quadratic functions. The stochastic electricity market model is a generalization of the deterministic dynamic model. Using the theory of stochastic differential equations, stochastic process theory, and eigenvalue techniques, the determining conditions of the mean stability for this electricity market model under small Gauss type random excitation are provided and testified theoretically. That is, if the demand elasticity of suppliers is nonnegative and the demand elasticity of consumers is negative, then the stochastic electricity market model is mean stable. It implies that the stability can be judged directly by initial data without any computation. Taking deterministic electricity market data combined with small Gauss type random excitation as numerical samples to interpret random phenomena from a statistical perspective, the results indicate the conclusions above are correct, valid, and practical.

scholarly journals Do Benefits from Dynamic Tariffing Rise? Welfare Effects of Real-Time Retail Pricing Under Carbon Taxation and Variable Renewable Electricity Supply

2019 ◽  
Vol 75 (1) ◽  
pp. 183-213
Author(s):  
Christian Gambardella ◽  
Michael Pahle ◽  
Wolf-Peter Schill
Keyword(s):  
Real Time ◽  
Electricity Markets ◽  
Electricity Market ◽  
Wholesale Price ◽  
Price Volatility ◽  
Market Model ◽  
High Carbon ◽  
Welfare Gains ◽  
Retail Pricing ◽  
Carbon Taxation

AbstractWe analyze the gross welfare gains from real-time retail pricing in electricity markets where carbon taxation induces investment in variable renewable technologies. Applying a stylized numerical electricity market model, we find a U-shaped association between carbon taxation and gross welfare gains. The benefits of introducing real-time pricing can accordingly be relatively low at relatively high carbon taxes and vice versa. The non-monotonous change in welfare gains can be explained by corresponding changes in the inefficiency arising from “under-consumption” during low-price periods rather than by changes in wholesale price volatility. Our results may cast doubt on the efficiency of ongoing roll-outs of advanced meters in many electricity markets, since net benefits might only materialize at relatively high carbon tax levels and renewable supply shares.

The Practical Stability Analysis of a Type of Electricity Market Model

2013 ◽  
Vol 278-280 ◽  
pp. 2160-2162 ◽  
Author(s):  
Zhan Hui Lu ◽  
Xin Wu
Keyword(s):  
Stability Analysis ◽  
Dynamic Model ◽  
Electricity Markets ◽  
Electricity Market ◽  
Differential Algebraic Equations ◽  
Market Model ◽  
Practical Stability ◽  
Algebraic Equations

The theory of practical stability is used to study the electricity market model which has the three supplier and two consumers. Based on the dynamic model of electricity market proposed by Alvarado, uses differential-algebraic equations and eigenvalue techniques from the theoretical to study the practical stability of the electricity markets.

scholarly journals Stability of the Stochastic Model for Power Markets with Interval Parameters

2016 ◽  
Vol 2016 ◽  
pp. 1-10
Author(s):  
Zhanhui Lu ◽  
Mengfan Ji ◽  
Weijuan Wang ◽  
Gengyin Li
Keyword(s):  
Stochastic Model ◽  
Random Excitation ◽  
System Stability ◽  
Demand Elasticity ◽  
Power Markets ◽  
Stability Criteria ◽  
External Disturbances ◽  
Interval Model ◽  
Interval Parameters ◽  
Random Nature

Pertaining to the random nature of demand sides and the range of demand elasticity with suppliers and consumers, a stochastic model for power markets with interval parameters is described to illustrate uncertain external disturbances, which is a generalization of the Alvarado dynamic model, stochastic model, and interval model. The interval stochastic stability criteria of the provided model are investigated by the theory of economics, interval dynamical system, and the theory stability of stochastic differential equations. The conclusions indicate that the demand elasticity stable interval can be calculated and the random excitation intensity does not impact the system stability. Some numerical examples are given to show the applicability and validity of the obtained results from a statistical perspective.

A Blockchain-based Double-sided Auction Peer-to-peer Electricity Market Framework

2020 ◽  
Author(s):  
Godwin C. Okwuibe ◽  
Michel Zade ◽  
Peter Tzscheutschler ◽  
Thomas Hamacher ◽  
Ulrich Wagner
Keyword(s):  
Electricity Market ◽  
Peer To Peer ◽  
Market Framework

scholarly journals Prosumers’ Behavior under a Regulation That Encourages Strict Self-Sufficiency. The Case of Spanish Photovoltaic Micro-Generation

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 1114
Author(s):  
Pere Mir-Artigues ◽  
Pablo del Río
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Specific Form ◽  
Economic Behavior ◽  
Distribution Grid ◽  
Self Sufficiency ◽  
Regulatory Limits ◽  
Regulatory Measures ◽  
Self Production ◽  
Municipal Level

The reduction of equipment costs encourages the diffusion of photovoltaic micro-generation, however, proper regulatory measures should be implemented to facilitate self-production dissemination and to promote the emergence of new electricity markets which integrate prosumers. The specific form of these markets will depend on the level of prosumers’ self-sufficiency and the type of grid to which they will be connected. Unfortunately, Spain has been an example of resistance to micro-generation deployment. However, some things have started to change recently, albeit only to a certain extent. This article explains the key elements of the latest regulation of photovoltaic micro-generation in Spain and, through a stylized model, describes the economic behavior of prosumers in such a regulatory framework. It is concluded that this regulation only encourages prosumer plants which are strictly focused on self-sufficiency because it discourages exports and limits capacities and this regulation discourages the smart renewal of the distribution grid because it prevents prosumers from participating in the electricity market. It is recommended that the aforementioned regulatory limits be removed and pilot experiences for the market participation of prosumers be promoted by creating the appropriate technical and regulatory conditions, for example, at the municipal level.

scholarly journals Electricity Markets during the Liberalization: The Case of a European Union Country

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4317
Author(s):  
Štefan Bojnec ◽  
Alan Križaj
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Renewable Energy Sources ◽  
Primary Energy ◽  
Lessons Learned ◽  
Policy Implications ◽  
Daily Maximum ◽  
Energy Prices ◽  
Electricity Prices ◽  
Electricity Power

This paper analyzes electricity markets in Slovenia during the specific period of market deregulation and price liberalization. The drivers of electricity prices and electricity consumption are investigated. The Slovenian electricity markets are analyzed in relation with the European Energy Exchange (EEX) market. Associations between electricity prices on the one hand, and primary energy prices, variation in air temperature, daily maximum electricity power, and cross-border grid prices on the other hand, are analyzed separately for industrial and household consumers. Monthly data are used in a regression analysis during the period of Slovenia’s electricity market deregulation and price liberalization. Empirical results show that electricity prices achieved in the EEX market were significantly associated with primary energy prices. In Slovenia, the prices for daily maximum electricity power were significantly associated with electricity prices achieved on the EEX market. The increases in electricity prices for households, however, cannot be explained with developments in electricity prices on the EEX market. As the period analyzed is the stage of market deregulation and price liberalization, this can have important policy implications for the countries that still have regulated and monopolized electricity markets. Opening the electricity markets is expected to increase competition and reduce pressures for electricity price increases. However, the experiences and lessons learned among the countries following market deregulation and price liberalization are mixed. For industry, electricity prices affect cost competitiveness, while for households, electricity prices, through expenses, affect their welfare. A competitive and efficient electricity market should balance between suppliers’ and consumers’ market interests. With greening the energy markets and the development of the CO2 emission trading market, it is also important to encourage use of renewable energy sources.

scholarly journals Competition in Power Generation: Ex-ante Analysis of Indonesia’s Electricity Market

Energies ◽  
2020 ◽  
Vol 13 (24) ◽  
pp. 6741
Author(s):  
Dzikri Firmansyah Hakam ◽  
Sudarso Kaderi Wiyono ◽  
Nanang Hariyanto
Keyword(s):  
Power System ◽  
Market Structure ◽  
Market Power ◽  
Electricity Markets ◽  
Electricity Market ◽  
Regulatory Reform ◽  
Optimal Number ◽  
Load Flow ◽  
Utility Company ◽  
Competitive Electricity Markets

This research optimises the mix and structure of Generation Companies (GenCos) in the Sumatra power system, Indonesia. Market power, indicating the ability to raise prices profitably above the competitive level, tends to be a significant problem in the aftermath of electricity market restructuring. In the process of regulatory reform and the development of competitive electricity markets, it is desirable and practical to establish an efficient number of competitor GenCos. Simulations of a power system account for multi-plant mergers of GenCos subject to a regulatory measure of the Residual Supply Index and the influence of direct current load flow and the topology of the system. This study simulates the Sumatra power system in order to determine the following: optimal market structure, efficient GenCo generation mix, and the optimal number of competitive GenCos. Further, this study seeks to empirically optimise the electricity generation mix and electricity market structure of the Sumatra power system using DC load flow optimisation, market power index, and multi-plant monopoly analysis. The simulations include generation and transmission constraints to represent network constraints. This research is the first to analyse the Sumatra power system using imperfect (Cournot) competition modelling. Furthermore, this study is the first kind to optimise the mix and structure of the Sumatra generation power market. The guidelines and methodology in this research can be implemented in other countries characterised by a monopoly electricity utility company.

scholarly journals Decentralized Prosumer-Centric P2P Electricity Market Coordination with Grid Security

Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4665
Author(s):  
Duarte Kazacos Winter ◽  
Rahul Khatri ◽  
Michael Schmidt
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Power Flow ◽  
Power Plants ◽  
Optimal Power Flow ◽  
Free Market ◽  
Economic Value ◽  
New Paradigm ◽  
Grid Security ◽  
Virtual Power Plants

The increasing number of prosumers and the accompanying greater use of decentralised energy resources (DERs) bring new opportunities and challenges for the traditional electricity systems and the electricity markets. Microgrids, virtual power plants (VPPs), peer-to-peer (P2P) trading and federated power plants (FPPs) propose different schemes for prosumer coordination and have the potential of becoming the new paradigm of electricity market and power system operation. This paper proposes a P2P trading scheme for energy communities that negotiates power flows between participating prosumers with insufficient renewable power supply and prosumers with surplus supply in such a way that the community welfare is maximized while avoiding critical grid conditions. For this purpose, the proposed scheme is based on an Optimal Power Flow (OPF) problem with a Multi-Bilateral Economic Dispatch (MBED) formulation as an objective function. The solution is realized in a fully decentralized manner on the basis of the Relaxed Consensus + Innovations (RCI) algorithm. Network security is ensured by a tariff-based system organized by a network agent that makes use of product differentiation capabilities of the RCI algorithm. It is found that the proposed mechanism accurately finds and prevents hazardous network operations, such as over-voltage in grid buses, while successfully providing economic value to prosumers’ renewable generation within the scope of a P2P, free market.

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