NDLI: Effects of Electricity Futures on Power Plants Strategies

Content Provider	IEEE Xplore Digital Library
Author	Wu Zhong-qun Qi Jian-xun
Copyright Year	2007
Description	Author affiliation: North China Electr. Power Univ., Beijing (Wu Zhong-qun; Qi Jian-xun)
Abstract	Electricity future has been discussed by many documents for using electricity future to reduce prices volatility of electricity market, but it is scarcely discussed what behaviour of power plants may be optimal or real combined with a specific market structure, so it is impossible to find out a workable approach to avoid the impact from price volatility for power plants or electricity market. In view of the case, this paper mainly researched, concerning the introduction of electricity futures, the power plants' feasible allocation strategies of generation capacity and their maximum profits combined with oligopolistic electricity market structure. Market price models are constructed in this paper concerned both of electricity futures being and not. On the basis of comparison, it is proved that the introduction of electricity futures is helpful to stabilize electricity prices. In the meanwhile, it is found that there is a sole optimal strategy for power plants to increase their profits, and the strategy is of a Nash-equilibrium. Furthermore, using the data from a power plant in China, the paper indicated that the optimal strategy concerning electricity futures will optimize power plants generation structure.
Starting Page	2027
Ending Page	2033
File Size	4558872
Page Count	7
File Format	PDF
ISBN	9787560322780
DOI	10.1109/ICMSE.2007.4422138
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2007-08-20
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	HARBIN INSTITUTE OF TEC
Subject Keyword	power plants' strategies electricity future electricity price Stochastic processes Elasticity Conference management Construction industry Forward contracts Engineering management Electricity supply industry Energy management optimal future position Power generation Power engineering and energy
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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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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