The Effect of Agri-Marketing Facilities Location on Nearby Apartment Price: The Case of Agricultural Wholesale Market and Supermarket in Cheongju, Korea

The participation of household prosumers in wholesale electricity markets is very limited, considering the minimum participation limit imposed by most market participation rules. The generation capacity of households has been increasing since the installation of distributed generation from renewable sources in their facilities brings advantages for themselves and the system. Due to the growth of self-consumption, network operators have been putting aside the purchase of electricity from households, and there has been a reduction in the price of these transactions. This paper proposes an innovative model that uses the aggregation of households to reach the minimum limits of electricity volume needed to participate in the wholesale market. In this way, the Aggregator represents the community of households in market sales and purchases. An electricity transactions portfolio optimization model is proposed to enable the Aggregator reaching the decisions on which markets to participate to maximize the market negotiation outcomes, considering the day-ahead market, intra-day market, and retail market. A case study is presented, considering the Iberian wholesale electricity market and the Portuguese retail market. A community of 50 prosumers equipped with photovoltaic generators and individual storage systems is used to carry out the experiments. A cost reduction of 6–11% is achieved when the community of households buys and sells electricity in the wholesale market through the Aggregator.

Download Full-text

A hybrid robust-stochastic approach for strategic scheduling of a multi-energy system as a price-maker player in day-ahead wholesale market

Energy ◽

10.1016/j.energy.2021.121398 ◽

2021 ◽

pp. 121398

Author(s):

Nima Nasiri ◽

Saeed Zeynali ◽

Sajad Najafi Ravadanegh ◽

Mousa Marzband

Keyword(s):

Stochastic Approach ◽

Energy System ◽

Wholesale Market

Download Full-text

A Novel Integrated Profit Maximization Model for Retailers under Varied Penetration Levels of Photovoltaic Systems

Energies ◽

10.3390/en14010092 ◽

2020 ◽

Vol 14 (1) ◽

pp. 92

Author(s):

Ioannis P. Panapakidis ◽

Nikolaos Koltsaklis ◽

Georgios C. Christoforidis

Keyword(s):

Profit Maximization ◽

Energy Markets ◽

Maximization Problem ◽

Selling Price ◽

Retail Market ◽

Stochastic Variable ◽

Wholesale Market ◽

Market Operation ◽

Pv Penetration ◽

Marginal Price

In contemporary energy markets, the Retailer acts as the intermediate between the generation and demand sectors. The scope of the Retailer is to maximize its profits by selecting the appropriate procurement mechanism and selling price to the consumers. The wholesale market operation influences the profits since the mix of generation plants determines the system marginal price (SMP). In the related literature, the SMP is treated as a stochastic variable, and the wholesale market conditions are not taken into account. The present paper presents a novel methodology that aims at connecting the wholesale and retail market operations from a Retailer’s perspective. A wholesale market clearing problem is formulated and solved. The scope is to examine how different photovoltaics (PV) penetration levels in the generation side influences the profits of the Retailer and the selling prices to the consumers. The resulting SMPs are used as inputs in a retailer profit maximization problem. This approach allows the Retailer to minimize economic risks and maximize profits. The results indicate that different PV implementation levels on the generation side highly influences the profits and the selling prices.

Download Full-text

Facilities Location: Models and Methods

Journal of the Operational Research Society ◽

10.1057/jors.1989.163 ◽

1989 ◽

Vol 40 (10) ◽

pp. 941-942 ◽

Cited By ~ 1

Author(s):

Graham K. Rand

Keyword(s):

Location Models ◽

Facilities Location

Download Full-text

Public Facilities Location under Elastic Demand

Transportation Science ◽

10.1287/trsc.24.2.117 ◽

1990 ◽

Vol 24 (2) ◽

pp. 117-136 ◽

Cited By ~ 12

Author(s):

Jossef Perl ◽

Peng-Kuan Ho

Keyword(s):

Elastic Demand ◽

Public Facilities ◽

Facilities Location

Download Full-text

From hierarchies to markets and partially back again in electricity: responding to decarbonization and security of supply goals

Journal of Institutional Economics ◽

10.1017/s1744137421000400 ◽

2021 ◽

pp. 1-17

Author(s):

Paul L. Joskow

Keyword(s):

Market Integration ◽

Investment Incentives ◽

Wholesale Market ◽

Security Of Supply ◽

Short Term ◽

Institutional Adaptation ◽

The World ◽

New Challenges ◽

And Storage

Abstract Electric power sectors around the world have changed dramatically in the last 25 years as a result of sector liberalization policies. Many electricity sectors are now pursuing deep decarbonization goals which will entail replacing dispatchable fossil generation primarily with intermittent renewable generation (wind and solar) over the next 20–30 years. This transition creates new challenges for both short-term wholesale market design and investment incentives consistent with achieving both decarbonization commitments and security of supply criteria. Thinking broadly about the options for institutional change from a Williamsonian perspective – thinking like Williamson – provides a useful framework for examining institutional adaptation. Hybrid markets that combine ‘competition for the market’ that relies on competitive procurement for long-term purchased power agreements with wind, solar, and storage developers, ideally in a technology neutral fashion, and ‘competition in the market’ that relies on short-term markets designed to produce efficient and reliable operations of intermittent generation and storage, is identified as a promising direction for institutional adaptation. Many auction, contract, and market integration issues remain to be resolved.

Download Full-text