Integrated natural gas and electricity market: A survey of the state of the art in operation planning and market issues

The integration of natural gas and electricity sectors has increased as a consequence of the growing installation of natural gas fired power plants (NGFPP). This paper presents a comprehensive literature survey of previous researches on integrated natural gas and electricity operation planning. The relevant characteristic of natural gas and electricity systems are compared. A brief description of the natural gas market structure and the price formation are presented. NGFPPs perspective in liberalized gas and electricity markets is analyzed. Latin American regulatory and market issues are presented focusing on the existing barriers for the gas and electricity markets integration.