Analysis of the traded volume drivers of the Iberian power futures market

A comprehensive assessment of the liquidity development in the Iberian power futures market managed by OMIP (“Operador do Mercado Ibérico de Energia, Pólo Português”) in its first 4 years of existence is performed. This market started on July 2006. A regression model tracking the evolution of the traded volumes in the continuous market is built as a function of 12 potential liquidity drivers. The only significant drivers are the traded volumes in OMIP compulsory auctions, the traded volumes in the “Over The Counter” (OTC) market, and the OTC cleared volumes in OMIP clearing house (OMIClear). Furthermore, the enrollment of financial members shows strong correlation with the traded volumes in the continuous market. OMIP liquidity is still far from the levels reached by the most mature European markets (Nord Pool and EEX). The market operator and its clearing house could develop efficient marketing actions to attract new entrants active in the spot market (energy intensive industries, suppliers, and small producers) as well as volumes from the opaque OTC market, and to improve the performance of existing illiquid products. An active dialogue with all the stakeholders (market participants, spot market operator, and supervisory authorities) will help to implement such actions.

Different approaches to grounding resistance. Calculation for thin wire structures at low frequency energization

The present paper deals with the calculation of grounding resistance of an electrode composed of thin wires, that we consider here as perfect electric conductors (PEC) e.g. with null internal resistance, when buried in a soil of uniform resistivity. The potential profile at the ground surface is also calculated when the electrode is energized with low frequency current. The classic treatment by using leakage currents, called Charge Simulated Method (CSM), is compared with that using a set of steady currents along the axis of the wires, here called the Longitudinal Currents Method (LCM), to solve the Maxwell equations. The method of moments is applied to obtain a numerical approximation of the solution by using rectangular basis functions. Both methods are applied to two types of electrodes and the results are also compared with those obtained using a thirth approach, the Average Potential Method (APM), later described in the text. From the analysis performed, we can estimate a value of the error in the determination of grounding resistance as a function of the number of segments in which the electrodes are divided.

Field-winding fault detection in synchronous machines with static excitation through frequency response analysis.

Frequency Response Analysis is a well-known technique for the diagnosis of power transformers. Currently, this technique is under research for its application in rotary electrical machines. This paper presents significant results on the application of Frequency Response Analysis to fault detection in field winding of synchronous machines with static excitation. First, the influence of the rotor position on the frequency response is evaluated. Secondly, some relevant test results are shown regarding ground fault and inter-turn fault detection in field windings at standstill condition. The influence of the fault resistance value is also taken into account. This paper also studies the applicability of Frequency Response Analysis in fault detection in field windings while rotating. This represents an important feature because some defects only appear with the machine rated speed. Several laboratory test results show the applicability of this fault detection technique in field windings at full speed with no excitation current.