DocumentCode
420390
Title
Three electricity market principles and electricity value equivalent (EVE) pricing methodology
Author
Mao-song, Yan
Author_Institution
Shanghai Univ., China
Volume
1
fYear
2004
fDate
5-8 April 2004
Firstpage
13
Abstract
This paper presents the three market principles and the electricity value equivalent (EVE) pricing method. The developed electricity market pricing methodology have solved the three great difficult market problems in the world. We have also researched the market character of EVE pricing methods using analysis method and the intelligent agent-based method, taking into account the bidding action (Bertrand game) and the withholding capacity action (Cournot game) of participants and comparing with the uniform cleaning pricing (UCP) and pay as bid (PAB) pricing. Besides the market efficiency and the capacity adequate return, the results show that the EVE pricing method can induce the power suppliers bidding according to their true operation cost and without capacity withholding. This is an invaluable, market character. We call it market ´inductivity´ which is different from reliability, stability and robustness etc. As we know that there are no such properties for any other pricing methods.
Keywords
multi-agent systems; power engineering computing; power markets; power system economics; power system reliability; power system stability; pricing; analysis method; bidding action; electricity market principles; electricity value equivalent pricing methodology; intelligent agent-based method; market efficiency; pay as bid; power suppliers bidding; uniform cleaning pricing; withholding capacity action; Automatic voltage control; Costs; Economies of scale; Electricity supply industry; Government; Investments; Power generation economics; Power industry; Power system economics; Pricing;
fLanguage
English
Publisher
ieee
Conference_Titel
Electric Utility Deregulation, Restructuring and Power Technologies, 2004. (DRPT 2004). Proceedings of the 2004 IEEE International Conference on
Print_ISBN
0-7803-8237-4
Type
conf
DOI
10.1109/DRPT.2004.1338459
Filename
1338459
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