Modeling Electricity Markets: A Brief Introduction

Momoh, James A.; Mili, Lamine

doi:10.1002/9780470529164.ch2

Cited by 8 publications

(6 citation statements)

References 44 publications

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“…Modelling the electricity markets has attracted a lot of attention in the research literature (see [15,16] for an overview). The large majority of the existing literature has a partial representation of the market, focusing on a single stage of the electricity market, usually the day-ahead market, or specific issues of market design.…”

Section: Existing Literaturementioning

confidence: 99%

Modelling the EU Internal Electricity Market: The PRIMES-IEM Model

2019

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The paper presents a newly built model used to simulate the European Union (EU) internal electricity market and assess market reform policies. The model performs an hourly simulation of all stages of the wholesale markets at a Pan-European scale, covering the sequence of day-ahead, intra-day, and balancing/reserve auctions. The model includes market coupling in all market stages, estimates scarcity bidding by generators endogenously, and determines electricity trade as a flow-based allocation of interconnections via the market auctions implicitly. The model solves a unit-commitment program, formulated as a mixed-integer optimisation problem, under demand and generation constraints, interconnection possibilities, technical restrictions of the cyclic operation of power plants, and the provision of ancillary services. The novelty of this approach is the inclusion of distortions in all stages of the markets to evaluate the impacts of their removal, and the operation of the markets in a segmented versus an integrated manner in the EU. The model calculates revenues and costs per power plant in the EU on a country basis and the value of cross-border flows. The model evaluated market reform measures, including the abolishment of priority dispatch of renewable energy plants, the establishment of flow-based allocation of interconnectors without NTC limitations, the activation of demand response, and the market coupling in intra-day markets. The model application has been in the context of the electricity market design initiative included in the “Clean Energy for all Europeans” policy package proposed by the European Commission in 2016.

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Section: Existing Literaturementioning

confidence: 99%

Modelling the EU Internal Electricity Market: The PRIMES-IEM Model

2019

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“…Fourth, during the deregulation trend of the 1990s, American power markets were restructured so as to become more diversified and competitive [44,[92][93][94][95]. Figure 1.5 shows a transition from a fully regulated (monopolistic) electric power system to one that is fully deregulated [96].…”

Section: Deregulation Of Electric Power Marketsmentioning

confidence: 99%

eIoT

Muhanji¹,

Flint²,

Farid³

2019

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adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence and indicate if changes were made. The images or other third party material in this book are included in the book's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the book's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use.

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“…Es importante resaltar que este modelo teórico ha sido la base de un sinnúmero de modelos de simulación de mercados imperfectos, empleados en diferentes tipos de análisis de regulación económica, poder de mercado y economía del bienestar aplicado. Como ejemplo, tenemos las metodologías desarrolladas en los trabajos de Alarcón (2002), García y Arbeláez (2002), García (2006), Campos (2005), Green (2004) y Rojas (2001).…”

Section: Metodología Empleada (Materials Y Método)unclassified

“…El modelo de simulación del MEC lo conforma básicamente una oferta agregada de energía que se representa desde una función a trozos, constituida por los dos grupos de agentes generadores identificados: el grupo de generadores Oligopolio y el grupo de generadores competidores. Adicionalmente, se cuenta con la demanda de energía, considerada como inelástica en el corto plazo (García, 2006y García y Arbeláez, 2002.…”

Section: Modelo De Simulación Del Mercado De Energía Eléctrica Colombiano (Mec)unclassified

Impacto sobre el bienestar social atribuido al fenómeno El Niño (ENOS) y al proceso de cambio climático. Un análisis sobre el mercado de energía colombiano

Estévez

2014

LEBRET

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Impacto sobre el bienestar social atribuido al fenómeno El Niño (ENOS) y al proceso de cambio climático. Un análisis sobre el mercado de energía colombiano * Impact on social welfare attributed to El Niño phenomenon (ENSO) and the process of climate change. An analysis of the Colombian Energy Market José Guillermo Ariza Estévez 1 ResumenArtículo que desarrolla y hace uso de un modelo de simulación del mercado de energía eléctrica colombiano, basado en el modelo teórico de Nash-Cournot, con el que se estimó el cambio en el bienestar de los consumidores, debido a la ocurrencia de eventos El Niño-Oscilación del Sur (ENOS) de importancia, como el de los años 1997-1998, así como por la posible ocurrencia de eventos de mayor intensidad, resultado del proceso de Cambio Climático. Las estimaciones obtenidas señalan que el evento del año 1997-1998, ocasionó pérdidas de bienestar de los consumidores por valor de $1, 2 Billones de pesos (0.9% del PIB-1998). De igual forma, eventos más intensos podrían ocasionar perdidas sobre el bienestar de entre el 0.36% y el 0.55% del PIB Palabras claveModelo de Nash-Cournot, calentamiento global, valoración económica.

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Modeling Electricity Markets: A Brief Introduction

Cited by 8 publications

References 44 publications

Modelling the EU Internal Electricity Market: The PRIMES-IEM Model

Modelling the EU Internal Electricity Market: The PRIMES-IEM Model

eIoT

Impacto sobre el bienestar social atribuido al fenómeno El Niño (ENOS) y al proceso de cambio climático. Un análisis sobre el mercado de energía colombiano

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