scholarly journals Research and Discuss on Market model based on Blockchain

2018 ◽  
Vol 57 ◽  
pp. 03001
Author(s):  
Yan Cui-hui ◽  
Liu Fang ◽  
Hu Chaofan ◽  
Cui Hui ◽  
Wang Bin
Keyword(s):  
Electricity Market ◽  
Electrical Power ◽  
Electric Power Industry ◽  
Power Market ◽  
Power Industry ◽  
Market Model ◽  
Human Society ◽  
Computing Paradigm ◽  
Trading Model ◽  
And Performance

Electric power industry is the foundation of national economy and plays a key role in the development of human society. Traditional power industry is monopolized by industry and lacked of market efficiency. In recent years, it is seeking breakthroughs in the market-oriented reform. Although China’s electricity market reform has achieved some achievement, it is still lacked of market players, regional transactions, excessive data management, concentration and other defects. This paper puts forward higher requirements for the system design of power market transactions. The electrical power market is facing with the security and performance challenges, it is to improve the electrical power market transaction mode and to enhance transaction security, blockchain is a new decentralized framework and with a distributed computing paradigm, which integrates and innovates a variety of computer technologies, then it constructed a perfect competitive electricity market system. Using of different levels of multi auction trading model to integrate the province’s trading and inter provincial trading parts in one system. In the part of inter-province trading, it adopted the contract trading and bidding coexist pattern, the trade is carried out in each province Surplus-deficit electricity which based on the meet of the province’s demand basis. By using blockchain, it can conducted the intelligent contract and record the whole transaction information discretely, and provided the inquiry transaction channel to the users, so it can achieve the resource scheduling fairness and transaction information in security.

scholarly journals IMPROVEMENT OF THE TARIFF POLICY IN THE ELECTRIC POWER INDUSTRY TO ACHIEVE SECTORAL AND MACROECONOMIC BALANCES

2019 ◽  
Vol 2019 (3) ◽  
pp. 3-21
Author(s):  
Victor LOGATSKIY ◽  
Keyword(s):  
Electric Power ◽  
Electricity Market ◽  
Financial Burden ◽  
Electric Power Industry ◽  
Power Industry ◽  
Technical Condition ◽  
Economic Indicators ◽  
Market Model ◽  
Electricity Distribution ◽  
Tariff Policy

The problems of formation of tariff policy under conditions of transition to a new model of the electricity market in Ukraine and introduction of incentive pricing in the electric power industry are considered. The main shortcomings of the existing electricity market model are identified, as well as the institutional structure and functional interaction of market segments of a new market model based on free pricing for electricity as a commodity. The attention is paid to the fact that in order to achieve sectoral and macroeconomic balance, it is necessary to properly justify prices for electricity distribution services under conditions of transition to a new market model, since tariffs for these services will be further regulated by the state. It is determined that the main criteria for the formation of adequate tariffs in Ukraine should be as follows: the feasible financial burden for the vast majority of participants in the electricity market in order to ensure the balance of the market; sufficient financial resource to maintain the proper technical condition of the energy infrastructure. The main shortcomings of the existing regulatory framework for the introduction of the incentive pricing for the distribution of electricity in Ukraine and the reasons associated with delaying the application of the incentive pricing for these services in Ukraine are identified. The main constituent elements of the structure of incentive pricing are considered, which are incorporated in the economic-mathematical model with the purpose of scenario forecasting of financial and economic indicators of the electricity distribution sector. The author shows that the predictive tariff rates (obtained as a result of the simulation) for electricity distribution for various categories of consumers, as well as aggregated financial and economic indicators of electricity distribution companies, should be considered as sectoral benchmarks for decision-making at the level of the national energy regulator.

scholarly journals A Speculative Trading Model for the Electricity Market: Based on Japan Electric Power Exchange

Energies ◽  
2019 ◽  
Vol 12 (15) ◽  
pp. 2946
Author(s):  
Jun Maekawa ◽  
Koji Shimada
Keyword(s):  
Renewable Energy ◽  
Electric Power ◽  
Electricity Market ◽  
Renewable Energy Sources ◽  
Market Liquidity ◽  
Market Model ◽  
Forward Markets ◽  
Power Exchange ◽  
Trading Model ◽  
Speculative Trading

Renewable energy sources produce less environmental impact and have little marginal cost. Thus, because of these characteristics, it is desirable to disseminate it for the purpose of economic efficiency. Because of the uncertainty in the supply of renewable energy and the special feature of electricity as a good, such as merit order curve, introducing forward markets is an essential factor in a liberalized market. In European countries, which have already established several mechanisms for managing liquidity including markets with several timelines, the market liquidity invites the investor to perform some speculative action. We present a simple electric power market model to analyze the speculative actions of electricity suppliers and the price effect of such actions. Moreover, we found that the speculative action improves the inelasticity of the demand in electricity market.

FORECASTING ENERGY MARKET DEVELOPMENT SCENARIOS

2020 ◽  
Vol 3 (11) ◽  
pp. 15-19
Author(s):  
I. B. TESLENKO ◽  
◽  
A. A. PROCHNOVA ◽  
Keyword(s):  
Electric Power ◽  
Electricity Market ◽  
Electric Power Industry ◽  
Power Industry ◽  
Market Development ◽  
Energy Market ◽  
Development Scenarios

The article highlights the main challenges faced by the electricity market during the coronavirus pandemic. The main prospects and new trends in the development of the electric power industry are highlighted.

scholarly journals Topical Issues in Corporate Governance Development in the Russia's Electric Power Industry

2019 ◽  
Vol 139 ◽  
pp. 01022
Author(s):  
G.I. Sheveleva
Keyword(s):  
Corporate Governance ◽  
Performance Evaluation ◽  
Electric Power ◽  
Boards Of Directors ◽  
Electric Power Industry ◽  
Social Engineering ◽  
Power Industry ◽  
Independent Directors ◽  
Corporate Governance Code ◽  
And Performance

Corporate governance in the Russian power companies is developing slowly, and its importance for increasing their investment appeal remains underestimated. In order to identify the main problems hindering such development, the assessment of corporate practices of these companies was carried out. It was performed mainly as per the criteria of the guidelines of Russia’s Bank on compliance with the principles of the Corporate Governance Code, as well as those not included in its guidelines. The results obtained were compared to those of the TopCompetence Corporate Governance Center, the Platforma Center for Social Engineering, the Center for Strategic Studies at the MGIMO University, the Corporate Governance Index of the Independent Directors Association and the HSE University. We benchmarked PJSC LUKOIL that ranks among the world's top 10 companies in terms of the total shareholder return as estimated by the Boston Consulting Group. On the basis of a generalization of all the obtained findings we delineated the topical issues of the development of corporate governance. These issues were mainly concerned with the Boards of Directors and were grouped according to the stages of their nomination, election, current operations and performance evaluation. The emphasis was put on the issues related to the adoption of new managerial technologies.

scholarly journals The influence of the «technological unity of power» on the structure of contractual relations in Russian electric power industry

2020 ◽  
pp. 96-105
Author(s):  
V. S. Eliseev
Keyword(s):  
Electric Power ◽  
Electricity Market ◽  
Electric Power Industry ◽  
Power Industry ◽  
Organizational Level ◽  
Communication Structure ◽  
Legal Nature ◽  
The Russian Federation ◽  
Contractual Relations ◽  
Energy Companies

The article analyzes the formation of the contractual communication structure in the electric power industry after its reform in the Russian Federation. The electric power industry in the USSR was built on the basis of technological unity. This principle was violated as a result of the privatization of the energy sector. At the organizational level have been produced: a parallel gap of the joint electricity producer; series‑parallel gap of transmission; the functional gap of electricity transmission; electricity market is divided into wholesale and retail. A large number of intermediaries were created. In the future, a special structure of contractual relations was created, which was mandatory. The conclusion of contracts for energy companies became mandatory; contracts became standard; pricing was mandatory. This was done on the basis of the principle of technological unity of the electric power industry, which allowed the author to draw a conclusion about the administrative and legal nature of the structure of contractual relations in the electric power industry.

scholarly journals Integrated Planning Framework For Pumped Hydro Energy Storage (PHES) Systems

2021 ◽  
Author(s):  
Faizul Hasan ◽  
Darko Joksimovic
Keyword(s):  
Energy Storage ◽  
Electricity Market ◽  
Electric Power Industry ◽  
Power Industry ◽  
Integrated Planning ◽  
Renewable Energy Resources ◽  
Market System ◽  
Energy Potential ◽  
Planning Framework ◽  
Grid Level

The electric power industry worldwide has been focusing towards increasing utilization of renewable energy resources such as wind and solar to build and maintain clean, reliable and affordable electricity systems. Although these resources are environmentally clean, their uncertain and intermittent nature is a significant issue. Similarly, other energy generators such as nuclear and gas have serious environmental issues. These issues can be resolved with effective management of supply and demand using appropriate energy storage. Although various energy storage options are available, PHES is globally proven technology at grid level. Additionally, gravity power module (GPM) is a newly emerged technology in the power industry. However, its applications at full scale are still awaited. This research developed methodologies for integrated planning framework for PHES systems at grid level, employing a GIS-based model to identify feasible PHES sites, optimizing the scheduling of feasible PHES potential, and performing the financial analysis of PHES system. The methodologies were applied on grid-connected electricity area of Ontario that identified 285 feasible PHES and GPM sites with storage potential of 56,268 MWh. This research proposed the formation of a cooperative association namely „Pumped Hydro Storage Association (PHSA)‟ for integration of PHES system in the electricity market system operated by the IESO in Ontario. Using 2016 data, the optimization model resulted that PHSA supplied real-time energy 28,134 MWh/ day, provided ancillary services including variable operating reserve 23,914 MWh/ day, fixed operating reserve 4,220 MWh/ day, and purchased energy 65,060 MWh/ day. The optimization results and resultant financial indicators confirmed that proposed PHES system is technically and financially viable in a large electricity market system. As an initial step, partial development of PHES and GPM plants was proposed with an initial capital cost of C$ 1,052 Million utilizing 7,767 MWh/ day energy potential that resulted in a net profit share of C$ 13.36/ MWh for each participatory plant. Finally, the developed PHES planning framework for PHES system can certainly be found valuable to the policymakers, system operators, energy developers, research scholars, engineers, financial analysts and scientist community to work on future improvement in the PHES system.

scholarly journals Modern Features of Price Formation on the Reactive Power Market

2021 ◽  
Vol 288 ◽  
pp. 01075
Author(s):  
Vladimir Kolibaba ◽  
Konstantin ZHabin ◽  
Anatolij Kolesnikov ◽  
Sergey Filin ◽  
Maksim Maksimov ◽  
...  
Keyword(s):  
Electric Power ◽  
Power Plants ◽  
Reactive Power ◽  
Electric Power Industry ◽  
Power Market ◽  
Power Industry ◽  
Economic Problem ◽  
Organizational Mechanism ◽  
Reactive Power Market ◽  
Selection Of

This article discusses the specific features of such a product as reactive power. The degree of reactive power compensation both in the domestic electric power industry and in most industrialized countries is clearly insufficient. The possibilities available in electric grids, at power plants and at consumers of electricity for coordinated regulation of reactive power and voltage levels are not fully used. The main factors influencing the formation of the reactive power market in the electric power industry are revealed. The proposed market is based on the organization and implementation of qualified selection of reactive power suppliers. The scheme of the price bid of reactive power suppliers, developed on the fundament of the cost structure of various types of reactive power suppliers is proposed. Rational regulation of reactive power is currently not considered as an economic problem, but it is one of the main tools for managing the efficiency of EPS. The proposed organizational mechanism of pricing for reactive power and the qualified selection of its suppliers is aimed at determining the range of suppliers of reactive power capable of meeting the demand for it with the least costs, as well as to stimulate investments in the construction of new sources of reactive power.

scholarly journals Additional measures on the development of the conditions of competition on the Russian electricity market

2019 ◽  
pp. 52-58
Author(s):  
V. Ya. Afanasev ◽  
V. V. Kuzmin
Keyword(s):  
Electric Power ◽  
Electricity Market ◽  
Current Model ◽  
Power Market ◽  
Power Production ◽  
Market Model ◽  
Electric Power Market ◽  
Electric Power Production ◽  
Further Development ◽  
Modern Russian

The issues of the organization of relations in the modern Russian electric power market have been considered. Based on the analysis of the characteristics and problems of the current model of the Russian electricity market, the conclusion has been made, that it is necessary to develop and implement an additional set of measures to develop this market in order to ensure acceptable conditions of competition, which allow through application of the competitive procedures and mechanisms to increase the efficiency of the electric power production, transmission and consumption process. The characteristic of the electric power market model, possessing the properties of modern markets with developed competition, has been given. The measures for the organizational and theoretical provision of the process of further development of the electric power market have been offered.

scholarly journals OPTIMIZATION MODELS OF THE UKRAINIAN POWER INDUSTRY

Ekonomika ◽  
2013 ◽  
Vol 92 (4) ◽  
pp. 114-126
Author(s):  
Nataliia Slushaienko
Keyword(s):  
Electric Power ◽  
Electric Power Industry ◽  
Power Market ◽  
Power Industry ◽  
Competitive Market ◽  
Optimization Models ◽  
Electric Power Market ◽  
Market Environment ◽  
Environmental Aspect ◽  
Games Theory

Abstract. The paper deals with the environmental aspect of power industry development and uses unilateral and bilateral auction and games theory optimization modeling to simulate competitive market introduction to the Ukrainian electric power industry. The main goal of the research is to investigate how the transition will influence prices’, volumes’ dynamics and benefit distribution among market players while also addressing the problem of possible market fluctuations due to price sensitivity.Key words: electric power market, environment, competitive market introduction, auctions, games theory

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