scholarly journals A Market Framework for Energy Bidding Decision-Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market

Author(s):  
Ahmed M. A. Haidar ◽  
Lai Carmen ◽  
Kashem M. Muttaqi
Energies ◽  
2020 ◽  
Vol 14 (1) ◽  
pp. 65
Author(s):  
Heloísa P. Burin ◽  
Julio S. M. Siluk ◽  
Graciele Rediske ◽  
Carmen B. Rosa

Due to the constant evolution of the electricity markets around the world, new possibilities for contracting electricity are emerging. In Brazil, there are two models available to the consumer: the regulated contracting environment and the free contracting environment. Because of these possibilities for contracting electricity, it is important that consumers know how to migrate from the regulated to the free environment when it is an advantage. This study was conducted following the premises of three techniques: systematic literature review, gray literature review, and expert panel. The following question was asked: What are the determining factors to be considered by the consumer at the moment decision to migrate from the regulated electricity market to the free market? In total, 7 factors were identified and discussed in the literature review. The experts who participated in the study pointed out 3 influential scenarios in this decision making to migrate. The main contribution of this study is to provide the consumer with subsidies for decision making, given the determining factors to be taken into account when deciding on migration or not. In addition, the study contributed to the sector through a comprehensive discussion about the scenarios faced by consumers and how they can influence decision making.


Author(s):  
Godwin C. Okwuibe ◽  
Michel Zade ◽  
Peter Tzscheutschler ◽  
Thomas Hamacher ◽  
Ulrich Wagner

2005 ◽  
Vol 32 (4) ◽  
pp. 719-725 ◽  
Author(s):  
Joyce Li Zhang ◽  
K Ponnambalam

This paper describes the implementation of a new solution approach — Fletcher-Ponnambalam model (FP) — for risk management in hydropower system under deregulated electricity market. The FP model is an explicit method developed for the first and second moments of the storage state distributions in terms of moments of the inflow distributions. This method provides statistical information on the nature of random behaviour of the system state variables without any discretization and hence suitable for multi-reservoir problems. Also avoiding a scenario-based optimization makes it computationally inexpensive, as there is little growth to the size of the original problem. In this paper, the price uncertainty was introduced into the FP model in addition to the inflow uncertainty. Lake Nipigon reservoir system is chosen as the case study and FP results are compared with the stochastic dual dynamic programming (SDDP). Our studies indicate that the method could achieve optimum operations, considering risk minimization as one of the objectives in optimization.Key words: reservoir operations, explicit method, uncertainty, stochastic programming, risk.


2021 ◽  
Vol 103 ◽  
pp. 105493
Author(s):  
Michele Limosani ◽  
Monica Milasi ◽  
Domenico Scopelliti

Water ◽  
2018 ◽  
Vol 10 (7) ◽  
pp. 885 ◽  
Author(s):  
Bin Xu ◽  
Ping-An Zhong ◽  
Baoyi Du ◽  
Juan Chen ◽  
Weifeng Liu ◽  
...  

In a deregulated electricity market, optimal hydropower operation should be achieved through informed decisions to facilitate the delivery of energy production in forward markets and energy purchase level from other power producers within real-time markets. This study develops a stochastic programming model that considers the influence of uncertain streamflow on hydropower energy production and the effect of variable spot energy prices on the cost of energy purchase (energy shortfall). The proposed model is able to handle uncertainties expressed by both a probability distribution and discretized scenarios. Conflicting decisions are resolved by maximizing the expected value of net revenue, which jointly considers benefit and cost terms under uncertainty. Methodologies are verified using a case study of the Three Gorges cascade hydropower system. The results demonstrate that optimal operation policies are derived based upon systematic evaluations on the benefit and cost terms that are affected by multiple uncertainties. Moreover, near-optimal operation policy under the case of inaccurate spot price forecasts is also analyzed. The results also show that a proper policy for guiding hydropower operation seeks the best compromise between energy production and energy purchase levels, which explores their nonlinear tradeoffs over different time periods.


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