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Electricity market

About: Electricity market is a(n) research topic. Over the lifetime, 17941 publication(s) have been published within this topic receiving 302821 citation(s). The topic is also known as: energy exchange. more


Journal ArticleDOI: 10.1086/261846
Abstract: Most of the British electricity supply industry has been privatized. Two dominant generators supply bulk electricity to an unregulated "pool." They submit a supply schedule of prices for generation and receive the market-clearing price, which varies with demand. Despite claims that this should be highly competitive, we show that the Nash equilibrium in supply schedules implies a high markup on marginal cost and substantial deadweight losses. Further simulations, to show the effect of entry by 1994, produce somewhat lower prices, at the cost of excessive entry; subdividing the generators into five firms would produce better results. more

Topics: Supply (62%), Electricity market (61%), Electricity retailing (59%) more

1,373 Citations

Journal ArticleDOI: 10.1016/J.JPOWSOUR.2007.03.010
Jasna Tomić1, Willett Kempton1Institutions (1)
Abstract: Electric-drive vehicles can provide power to the electric grid when they are parked (vehicle-to-grid power). We evaluated the economic potential of two utility-owned fleets of battery-electric vehicles to provide power for a specific electricity market, regulation, in four US regional regulation services markets. The two battery-electric fleet cases are: (a) 100 Th!nk City vehicle and (b) 252 Toyota RAV4. Important variables are: (a) the market value of regulation services, (b) the power capacity (kW) of the electrical connections and wiring, and (c) the energy capacity (kWh) of the vehicle's battery. With a few exceptions when the annual market value of regulation was low, we find that vehicle-to-grid power for regulation services is profitable across all four markets analyzed. Assuming now more than current Level 2 charging infrastructure (6.6 kW) the annual net profit for the Th!nk City fleet is from US$ 7000 to 70,000 providing regulation down only. For the RAV4 fleet the annual net profit ranges from US$ 24,000 to 260,000 providing regulation down and up. Vehicle-to-grid power could provide a significant revenue stream that would improve the economics of grid-connected electric-drive vehicles and further encourage their adoption. It would also improve the stability of the electrical grid. more

Topics: Vehicle-to-grid (57%), Electrical grid (56%), Electricity market (55%) more

979 Citations

Open accessJournal ArticleDOI: 10.1016/J.RSER.2015.01.057
Abstract: The paper reviews different approaches, technologies, and strategies to manage large-scale schemes of variable renewable electricity such as solar and wind power. We consider both supply and demand side measures. In addition to presenting energy system flexibility measures, their importance to renewable electricity is discussed. The flexibility measures available range from traditional ones such as grid extension or pumped hydro storage to more advanced strategies such as demand side management and demand side linked approaches, e.g. the use of electric vehicles for storing excess electricity, but also providing grid support services. Advanced batteries may offer new solutions in the future, though the high costs associated with batteries may restrict their use to smaller scale applications. Different “P2Y”-type of strategies, where P stands for surplus renewable power and Y for the energy form or energy service to which this excess in converted to, e.g. thermal energy, hydrogen, gas or mobility are receiving much attention as potential flexibility solutions, making use of the energy system as a whole. To “functionalize” or to assess the value of the various energy system flexibility measures, these need often be put into an electricity/energy market or utility service context. Summarizing, the outlook for managing large amounts of RE power in terms of options available seems to be promising. more

Topics: Intermittent energy source (64%), Stand-alone power system (63%), Electricity market (62%) more

897 Citations

Open accessJournal ArticleDOI: 10.1257/000282802762024557
Abstract: We present a method for decomposing wholesale electricity payments into production costs, inframarginal competitive rents, and payments resulting from the exercise of market power. The method also parses actual variable costs into the minimum variable costs necessary to meet demand and increased production costs caused by market power and other market inefficiencies. Using data from June 1998 to October 2000 in California, we find significant departures from competitive pricing, particularly during the high-demand summer months. Electricity expenditures in the state's restructured wholesale market rose from $2.04 billion in summer 1999 to $8.98 billion in summer 2000. We find that 21% of this increase was due to increased production costs, 20% was due to increased competitive rents, and the remaining 59% was attributable to increased market power. more

  • Figure 5: Efficiency Losses
    Figure 5: Efficiency Losses
  • Figure 1: California Fossil Plant MC Curves (September)
    Figure 1: California Fossil Plant MC Curves (September)
  • Figure 6: Calculation of Division of Rents
    Figure 6: Calculation of Division of Rents
  • Table 3: Production Costs and Rent Distribution (Millions $) June - October
    Table 3: Production Costs and Rent Distribution (Millions $) June - October
  • Figure 2: Import Adjustments and Efficiency Losses
    Figure 2: Import Adjustments and Efficiency Losses
  • + 5

Topics: Variable cost (60%), Market power (59%), Electricity market (57%) more

867 Citations

Open accessProceedings ArticleDOI: 10.1145/1592568.1592584
16 Aug 2009-
Abstract: Energy expenses are becoming an increasingly important fraction of data center operating costs. At the same time, the energy expense per unit of computation can vary significantly between two different locations. In this paper, we characterize the variation due to fluctuating electricity prices and argue that existing distributed systems should be able to exploit this variation for significant economic gains. Electricity prices exhibit both temporal and geographic variation, due to regional demand differences, transmission inefficiencies, and generation diversity. Starting with historical electricity prices, for twenty nine locations in the US, and network traffic data collected on Akamai's CDN, we use simulation to quantify the possible economic gains for a realistic workload. Our results imply that existing systems may be able to save millions of dollars a year in electricity costs, by being cognizant of locational computation cost differences. more

Topics: Electricity market (59%), Electricity (52%)

865 Citations

No. of papers in the topic in previous years

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Topic's top 5 most impactful authors

Zita Vale

123 papers, 1.8K citations

Joao P. S. Catalao

105 papers, 2.9K citations

Fushuan Wen

88 papers, 2.2K citations

Zhao Yang Dong

76 papers, 2K citations

Antonio J. Conejo

65 papers, 5.4K citations

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