NDLI: Toward the Value-Based Generation Investments and Utilization: Stratum Electricity Market

Content Provider	IEEE Xplore Digital Library
Author	Zhiyong Wu Ilic, M.
Copyright Year	2006
Description	Author affiliation: Electr. Eng., Tsinghua Univ., Beijing (Zhiyong Wu)
Abstract	In this paper we model and analyze the dependence of electricity market outcomes on the market structures and rules. Market attributes such as electricity prices and their volatility, profits and revenues by the market participants and system cost are assessed. Of particular concerns are the effects of market structures on the long-term generation investments needed to meet long-term uncertain demand. The paper builds upon an earlier introduction of electricity market modeling resulting from the dynamics of fundamental market drivers, such as demand, supply and market clearing processes. This approach is employed to model and simulate the outcomes in the short- term spot markets, and compare these with the potential outcomes in a newly proposed stratum electricity market (SEM) structure comprising both spot and long-term sub-markets. The performance of the newly proposed SEM is illustrated using Monte Carlo simulations on a simple power system in which the only uncertainties come from the load forecasts and fuel prices.
Starting Page	89
Ending Page	98
File Size	6210818
Page Count	10
File Format	PDF
ISBN	1424402271
DOI	10.1109/NAPS.2006.360129
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2006-09-17
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Power generation Investments Electricity supply industry Uncertainty Fuels Power system modeling Power system simulation Public policy Costs Load forecasting Stratum Electricity Market (SEM) Forward Markets for Electricity Energy Capacity Markets
Content Type	Text
Resource Type	Article

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3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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