Energy Transition in Europe’s Power House. Alleingang, avant-garde or blackout? IES Policy Brief Issue 2012/03/October 2012

Summary. The transformation of Germany’s energy sector will further exacerbate current network fluctuations and intensify the need for modifications in Europe’s power system. Cross-border power transfers will have to increase in order to overcome national limitations for absorbing large volumes of intermittent renewables like wind and solar power. In order to establish such an infrastructure on a European scale, the energy transition needs to be guided by an economic approach designed to prevent further fractures in the Internal Electricity Market. Moreover, constructive negotiations with neighbouring countries on market designs and price signals will be important preconditions for a successful energy transition in Europe.

The EU power sector needs long-term price signals. CEPS Special Report No. 135/April 2016

By 2030, half of the EU’s electricity demand will be covered by renewables and will need to be accompanied by flexible conventional back-up resources. Due to the high upfront costs inherent to renewables and the progressively lower running times associated with back-up capacity, the cost of capital will have a proportionately greater impact on total costs than today. This report examines how electricity markets can be designed to provide long-term price signals, thereby reducing the cost of capital for these technologies and allowing for a more efficient transition. It finds that current market arrangements are unable to provide long-term price signals. To address this issue, we argue that a system for long-term contracts with a regulated counterparty could be implemented. A centralised system where capacity or energy or a combination of both is contracted, could be introduced for conventional and renewable capacity, based on a regional adequacy assessment and with a competitive bidding system in place to ensure cost-effectiveness. Member states face a number of legislative barriers while implementing these types of systems, however, which could be reduced by merging legislation and setting EU framework rules for the design of these contractual agreements.

The economic base for power markets in Lincoln County, Oregon /

"January 1946."

The economic base for power markets in Chelan, Douglas, and Okanogan counties, Washington /

"July 1945."

Assessment of retail and wholesale market competition in the Illinois electric industry /

In this report, the Commission examines developments relevant to the competitiveness of the retail and wholesale markets. In the retail market, two key indicators of activity are examined: The first indicator is the rate of customer switching from bundled services to "delivery services." Customers taking delivery services are either purchasing power and energy from ARES or are purchasing power and energy from the host utility on an "unbundled" basis under the utility's delivery services tariffs. Currently, bundled power sales mainly consist of sales to customers under the Sec. 16-110 "Power Purchase Option" (PPO). The second indicator of retail activity presented in this report is the number of suppliers active in the State's nine service territories.

Cogeneration market assessment : phase II : an evaluation of the economic potential for cogeneration in Illinois /

Cover title: An evaluation of the economic potential for cogeneration in Illinois.

Size and book to market effects and the Fama French three factor asset pricing model: Evidence from the Australian stockmarket

The present study adds to the sparse published Australian literature on the size effect, the book to market (BM) effect and the ability of the Fama French three factor model to account for these effects and to improve on the asset pricing ability of the Capital Asset Pricing Model (CAPM). The present study extends the 1981–1991 period examined by Halliwell, Heaney and Sawicki (1999) a further 10 years to 2000 and addresses several limitations and findings of that research. In contrast to Halliwell, Heaney and Sawicki the current study finds the three factor model provides significantly improved explanatory power over the CAPM, and evidence that the BM factor plays a role in asset pricing.

Genetic algorithm-based spinning reserve dispatching in a competitive electricity market

Power systems rely greatly on ancillary services in maintaining operation security. As one of the most important ancillary services, spinning reserve must be provided effectively in the deregulated market environment. This paper focuses on the design of an integrated market for both electricity and spinning reserve service with particular emphasis on coordinated dispatch of bulk power and spinning reserve services. A new market dispatching mechanism has been developed to minimize the ISO's total payment while ensuring system security. Genetic algorithms are used in the finding of the global optimal solutions for this dispatching problem. Case studies and corresponding analyses haw been carried out to demonstrate and discuss the efficiency and usefulness of the proposed market.

Beauty and the market: Actress postcards and their senders in early twentieth century Australia

A hundred years ago the international craze for picture postcards distributed millions of images of popular stage actresses around the world. The cards were bought, sent, and collected by many whose contact with live theatre was sometimes minimal. Veronica Kelly's study of some of these cards sent in Australia indicates the increasing reach of theatrical images and celebrity brought about by the distribution mechanisms of industrial mass modernity. The specific social purposes and contexts of the senders are revealed by cross-reading the images themselves with the private messages on the backs, suggesting that, once outside the industrial framing of theatre or the dramatic one of specific roles, the actress operated as a multiply signifying icon within mass culture – with the desires and consumer power of women major factors in the consumption of the glamour actress card. A study of the typical visual rhetoric of these postcards indicates the authorized modes of femininity being constructed by the major postcard publishers whose products were distributed to theatre fans and non-theatregoers alike through the post. Veronica Kelly is working on a project dealing with commercial managements and stars in early twentieth-century Australian theatre. She teaches in the School of English, Media Studies, and Art History at the University of Queensland, is co-editor of Australasian Drama Studies, and author of databases and articles dealing with colonial and contemporary Australian theatre history and dramatic criticism. Her books include The Theatre of Louis Nowra (1998) and the collection Our Australian Theatre in the 1990s (1998).

Zero-non-zero patterned vector error correction modeling for I(2) cointegrated time series with applications in testing PPP and stock market relationships

Vector error-correction models (VECMs) have become increasingly important in their application to financial markets. Standard full-order VECM models assume non-zero entries in all their coefficient matrices. However, applications of VECM models to financial market data have revealed that zero entries are often a necessary part of efficient modelling. In such cases, the use of full-order VECM models may lead to incorrect inferences. Specifically, if indirect causality or Granger non-causality exists among the variables, the use of over-parameterised full-order VECM models may weaken the power of statistical inference. In this paper, it is argued that the zero–non-zero (ZNZ) patterned VECM is a more straightforward and effective means of testing for both indirect causality and Granger non-causality. For a ZNZ patterned VECM framework for time series of integrated order two, we provide a new algorithm to select cointegrating and loading vectors that can contain zero entries. Two case studies are used to demonstrate the usefulness of the algorithm in tests of purchasing power parity and a three-variable system involving the stock market.

Composite auction method for suppressing unreasonable electricity price spikes in a competitive electricity market

The existence of undesirable electricity price spikes in a competitive electricity market requires an efficient auction mechanism. However, many of the existing auction mechanism have difficulties in suppressing such unreasonable price spikes effectively. A new auction mechanism is proposed to suppress effectively unreasonable price spikes in a competitive electricity market. It optimally combines system marginal price auction and pay as bid auction mechanisms. A threshold value is determined to activate the switching between the marginal price auction and the proposed composite auction. Basically when the system marginal price is higher than the threshold value, the composite auction for high price electricity market is activated. The winning electricity sellers will sell their electricity at the system marginal price or their own bid prices, depending on their rights of being paid at the system marginal price and their offers' impact on suppressing undesirable price spikes. Such economic stimuli discourage sellers from practising economic and physical withholdings. Multiple price caps are proposed to regulate strong market power. We also compare other auction mechanisms to highlight the characteristics of the proposed one. Numerical simulation using the proposed auction mechanism is given to illustrate the procedure of this new auction mechanism.

Electricity market price spike forecast with data mining techniques

Electricity market price forecast is a changeling yet very important task for electricity market managers and participants. Due to the complexity and uncertainties in the power grid, electricity prices are highly volatile and normally carry with spikes. which may be (ens or even hundreds of times higher than the normal price. Such electricity spikes are very difficult to be predicted. So far. most of the research on electricity price forecast is based on the normal range electricity prices. This paper proposes a data mining based electricity price forecast framework, which can predict the normal price as well as the price spikes. The normal price can be, predicted by a previously proposed wavelet and neural network based forecast model, while the spikes are forecasted based on a data mining approach. This paper focuses on the spike prediction and explores the reasons for price spikes based on the measurement of a proposed composite supply-demand balance index (SDI) and relative demand index (RDI). These indices are able to reflect the relationship among electricity demand, electricity supply and electricity reserve capacity. The proposed model is based on a mining database including market clearing price, trading hour. electricity), demand, electricity supply and reserve. Bayesian classification and similarity searching techniques are used to mine the database to find out the internal relationships between electricity price spikes and these proposed. The mining results are used to form the price spike forecast model. This proposed model is able to generate forecasted price spike, level of spike and associated forecast confidence level. The model is tested with the Queensland electricity market data with promising results. Crown Copyright (C) 2004 Published by Elsevier B.V. All rights reserved.

Power system sensitivity analysis for probabilistic small signal stability assessment in a deregulated environment

Deregulations and market practices in power industry have brought great challenges to the system planning area. In particular, they introduce a variety of uncertainties to system planning. New techniques are required to cope with such uncertainties. As a promising approach, probabilistic methods are attracting more and more attentions by system planners. In small signal stability analysis, generation control parameters play an important role in determining the stability margin. The objective of this paper is to investigate power system state matrix sensitivity characteristics with respect to system parameter uncertainties with analytical and numerical approaches and to identify those parameters have great impact on system eigenvalues, therefore, the system stability properties. Those identified parameter variations need to be investigated with priority. The results can be used to help Regional Transmission Organizations (RTOs) and Independent System Operators (ISOs) perform planning studies under the open access environment.

Integrated power scheme simulator for human-system integration studies

We present a simulator of a hydropower company’s view of its scheme, and its broader market and network context, which has been developed to evaluate advanced displays for control room operations. Although simplified, the simulator captures all the main aspects of scheme operations. The simulator allows controlled studies to be performed that test the effectiveness of current vs advanced display concepts under normal vs unexpected operating conditions that can be scripted into the simulator.