Title :
On the operation and pricing of real-time competitive electricity markets
Author :
Angelidis, George A. ; Papalexopoulos, Alex D.
Abstract :
This paper describes some challenging problems in the design of a real time competitive market in a deregulated electricity industry. The market design issues presented in this paper are based on the actual experience gained from the definition, design, implementation, and operation of various real-time imbalance energy markets around the world. For each problem, potential solutions are presented, explained, and compared.
Keywords :
costing; electricity supply industry; load dispatching; load flow; power system economics; ancillary services auctions; as-bid pricing; deregulated electricity industry; deregulation; electricity industry restructuring; energy deviation settlement; marginal cost pricing; market clearing price; market design issues; merit order dispatch; minimum cost redispatch; optimal power flow-based dispatch; real time competitive market; real-time electricity market; real-time imbalance energy markets; total energy settlement; Costs; Electricity supply industry; Electricity supply industry deregulation; Energy management; Energy resolution; Power generation; Power markets; Pricing; Procurement; Resource management;
Conference_Titel :
Power Engineering Society Winter Meeting, 2002. IEEE
Print_ISBN :
0-7803-7322-7
DOI :
10.1109/PESW.2002.985035
