NDLI: Priority Network Access Pricing for Electric Power

Content Provider	Springer Nature Link
Author	Deng, Shi Jie Oren, Shmuel S.
Copyright Year	2001
Abstract	We propose a priority-pricing scheme for zonal access to the electric power grid that is uniform across all buses in a zone. The independent system operator (ISO) charges bulk power traders a per unit ex ante transmission access fee. The zonal access fee serves as an access insurance premium that entitles a bulk power trader to either physical injection of one unit of energy or a compensation payment. The access fee per MWh depends on the injection zone and a self-selected strike price that serves as an insurance “deductible” that determines the scheduling priority of the insured transaction and the compensation level in case of curtailment. Inter-zonal transactions are charged (or credited) with an additional ex post congestion fee equal to the differences in zonal spot prices. The compensation for curtailed transactions equals the difference between the realized zonal spot price and the selected strike price (deductible level). The ISO manages congestion so as to minimize net compensation payments and thus, curtailment probabilities increase with strike price and for any particular strike price may vary from bus to bus. We calculate the rational expectations equilibrium for three-, four- and six-node systems and demonstrate that the efficiency losses of the proposed second best scheme relative to the efficient dispatch solutions are modest.
Starting Page	239
Ending Page	270
Page Count	32
File Format	PDF
ISSN	0922680X
Journal	Journal of Regulatory Economics
Volume Number	19
Issue Number	3
e-ISSN	15730468
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	2001-01-01
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Industrial Organization Microeconomics Public Finance & Economics
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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