Search results for "Load duration curve"

showing 2 items of 2 documents

An ACE Wholesale Electricity Market Framework with Bilateral Trading

2011

In this paper, an agent-based simulation model for a hybrid power market structure is presented. A bilateral transaction mechanism is combined with a uniform-pricing auction settlement in order to isolate the impact of medium-term bilateral contracts on market power and spot prices in a competitive wholesale market setting. First we describe the negotiation method for bilateral trading of energy and then introduce a new approach for bidding in the DA market based on the load duration curve. We find that, despite the conventional concerns, the foreclosure effect produced by the bilateral agreement between a generation and a retail business will not necessarily lead to higher prices, and will…

MicroeconomicsMarket structureSpot contractSettore SECS-S/06 -Metodi Mat. dell'Economia e d. Scienze Attuariali e Finanz.Order (exchange)Electricity marketLoad duration curveBusinessMarket powerBiddingWholesale electricity market Bilateral trading Day-ahead market Agent-based simulation modelDatabase transaction
researchProduct

A wholesale electricity market framework with bilateral trading

2011

An agent-based simulation model for a hybrid power market structure is presented. A bilateral transaction mechanism is combined with a uniform-pricing auction settlement in order to isolate the impact of medium-term bilateral contracts on market power and spot prices in a competitive wholesale market setting. First we describe the negotiation method for bilateral trading of energy and then introduce a new approach for bidding in the DA market based on the load duration curve. We find that, despite the conventional concerns, the foreclosure ef- fect produced by the bilateral agreement between a generation and a retail business will not necessarily lead to higher prices, and will be manifeste…

Settore SECS-S/06 -Metodi Mat. dell'Economia e d. Scienze Attuariali e Finanz.Electricity market bilateral trading uniform price auction settlement load duration curve.
researchProduct