The Experts below are selected from a list of 96687 Experts worldwide ranked by ideXlab platform
Hannele Holttinen - One of the best experts on this subject based on the ideXlab platform.
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optimal Electricity Market for wind power
Energy Policy, 2004Co-Authors: Hannele HolttinenAbstract:Abstract This paper is about Electricity Market operation when looking from the wind power producers’ point of view. The focus in on Market time horizons: how many hours there is between the closing and delivering the bids. The case is for the Nordic countries, the Nordpool Electricity Market and the Danish wind power production. Real data from year 2001 was used to study the benefits of a more flexible Market to wind power producer. As a result of reduced regulating Market costs from better hourly predictions to the Market, wind power producer would gain up to 8% more if the time between Market bids and delivery was shortened from the day ahead Elspot Market (hourly bids by noon for 12–36 h ahead). An after sales Market where surplus or deficit production could be traded 2 h before delivery could benefit the producer almost as much, gaining 7%.
Michel Rivier - One of the best experts on this subject based on the ideXlab platform.
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Electricity Market modeling trends
Energy Policy, 2005Co-Authors: Mariano Ventosa, Alvaro Baillo, Andres Ramos, Michel RivierAbstract:The trend towards competition in the Electricity sector has led to efforts by the research community to develop decision and analysis support models adapted to the new Market context. This paper focuses on Electricity generation Market modeling. Its aim is to help to identify, classify and characterize the somewhat confusing diversity of approaches that can be found in the technical literature on the subject. The paper presents a survey of the most relevant publications regarding Electricity Market modeling, identifying three major trends: optimization models, equilibrium models and simulation models. It introduces a classification according to their most relevant attributes. Finally, it identifies the most suitable approaches for conducting various types of planning studies or Market analysis in this new context.
Mariano Ventosa - One of the best experts on this subject based on the ideXlab platform.
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Electricity Market modeling trends
Energy Policy, 2005Co-Authors: Mariano Ventosa, Alvaro Baillo, Andres Ramos, Michel RivierAbstract:The trend towards competition in the Electricity sector has led to efforts by the research community to develop decision and analysis support models adapted to the new Market context. This paper focuses on Electricity generation Market modeling. Its aim is to help to identify, classify and characterize the somewhat confusing diversity of approaches that can be found in the technical literature on the subject. The paper presents a survey of the most relevant publications regarding Electricity Market modeling, identifying three major trends: optimization models, equilibrium models and simulation models. It introduces a classification according to their most relevant attributes. Finally, it identifies the most suitable approaches for conducting various types of planning studies or Market analysis in this new context.
Jialu Fan - One of the best experts on this subject based on the ideXlab platform.
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optimal investment for retail company in Electricity Market
IEEE Transactions on Industrial Informatics, 2015Co-Authors: Lin Cai, Peng Cheng, Jialu FanAbstract:Considering an optimal investment problem for a retailer in Electricity Market, the objective is to seek the optimal investment decision that maximizes the weighted sum of the expected return and the variance of wealth. Unlike existing works, the price fluctuation of both the wholesale and retail side of Electricity Market is considered, and the retailer can invest its wealth in Electricity Market and traditional financial Market simultaneously. Hence, there is a complicated wealth dynamic, which is the main challenge in our work. In this paper, by utilizing the method of Lagrange multiplier and the classical Tchebycheff inequality, we first show that the investment problem is a quadratic programming problem in terms of the decision variable, and thus has a unique optimal solution. Then, a closed-form optimal solution is derived by solving the stationary equation and comparing the feasible solution interval. Based on the optimal solution, we find the key price, which will affect the investment is the wholesale price rather than the retail price. Moreover, with a similar analysis approach, we also provide the optimal solution considering a more general model, which allows the retailer to purchase the Electricity temporarily to avoid the supply shortage. Extensive simulations demonstrate the better performance of the proposed solution over the Kelly strategy widely used in the financial Market.
Andres Ramos - One of the best experts on this subject based on the ideXlab platform.
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Electricity Market modeling trends
Energy Policy, 2005Co-Authors: Mariano Ventosa, Alvaro Baillo, Andres Ramos, Michel RivierAbstract:The trend towards competition in the Electricity sector has led to efforts by the research community to develop decision and analysis support models adapted to the new Market context. This paper focuses on Electricity generation Market modeling. Its aim is to help to identify, classify and characterize the somewhat confusing diversity of approaches that can be found in the technical literature on the subject. The paper presents a survey of the most relevant publications regarding Electricity Market modeling, identifying three major trends: optimization models, equilibrium models and simulation models. It introduces a classification according to their most relevant attributes. Finally, it identifies the most suitable approaches for conducting various types of planning studies or Market analysis in this new context.