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Space-time prices of wholesale electricity in England and Wales
... The concept of nodal pricing has an objective to determine the optimal price to achieve maximum welfare under specific constraints. Nodal pricing was modelled in the DC load low in matrix form as the result of power injection vector and the Power Transfer Distribution Factor (PTDF) [11,[40][41][42]. In power system formulation, Ɵ is the phase angle and the susceptance is the imaginary part of admittance and could be denoted as where is the transmission lines reactance. ...
This research optimises the mix and structure of Generation Companies (GenCos) in the Sumatra power system, Indonesia. Market power, indicating the ability to raise prices profitably above the competitive level, tends to be a significant problem in the aftermath of electricity market restructuring. In the process of regulatory reform and the development of competitive electricity markets, it is desirable and practical to establish an efficient number of competitor GenCos. Simulations of a power system account for multi-plant mergers of GenCos subject to a regulatory measure of the Residual Supply Index and the influence of direct current load flow and the topology of the system. This study simulates the Sumatra power system in order to determine the following: optimal market structure, efficient GenCo generation mix, and the optimal number of competitive GenCos. Further, this study seeks to empirically optimise the electricity generation mix and electricity market structure of the Sumatra power system using DC load flow optimisation, market power index, and multi-plant monopoly analysis. The simulations include generation and transmission constraints to represent network constraints. This research is the first to analyse the Sumatra power system using imperfect (Cournot) competition modelling. Furthermore, this study is the first kind to optimise the mix and structure of the Sumatra generation power market. The guidelines and methodology in this research can be implemented in other countries characterised by a monopoly electricity utility company.
... The study and implementation of nodal pricing in restructured electricity market is evolving since two decades ago. One of the first study in nodal pricing is [3] and [1] that calculates the efficient pricing of England and Wales electricity market. The large scale modelling of nodal pricing of Europe power system could be found in [4]. ...
This research focuses on modelling large-scale power system using DC load flow approach in Indonesia electricity market which consists of two primary power system, i.e. Java-Bali and Sumatra power system. This study adopts the 26 nodes stylised model for Java-Bali power system and eight nodes stylised model for Sumatra power system, by incorporating generation, transmission and power system stability constraint. The study in this paper is the first electricity market modelling to study JavaBali and Sumatra power system using perfect competition and oligopoly strategic behaviour.
This paper simulates the effect of electricity market restructuring in power generation market in Indonesia power system. By using market modelling, i.e. perfect competition and Cournot oligopoly market, this research determines the optimal market structure, effective generation mix in the generation companies, and an effective number of the competitive electricity market. This preventive approach contributes to the current
literature in electricity market modelling and market power studies, which is essential for Indonesia, when and if the market restructuring occurs.
Keywords—DC load flow, perfect competition, Cournot, market power, Java-Bali, Sumatra
Economists know how to calculate optimal prices for electricity transmission. These are rarely applied in practice. This paper develops a 13-node model of the transmission system in England and Wales, incorporating losses and transmission constraints. It is solved with optimal prices, and with uniform prices for demand and for generation, re-dispatching when needed to take account of transmission constraints. Moving from uniform prices to optimal nodal prices could raise welfare by 1.3% of the generators’ revenues, and would be less vulnerable to market power. It would also send better investment signals, but create politically sensitive regional gains and losses. Copyright Springer Science+Business Media, LLC 2007
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