دانلود Effective design for competitive electricity markets

Abstract

The deregulation of the electricity supply industry has resulted in the formation and growth of numerous electricity markets including  retail,  wholesale  and  ancillary markets.  Effective  design  of  electricity  markets  seeks  to  integrate principles  of market  economics  with  the  physical  characteristics  of  power  system  operation.  An  efficient  electricity  market  should produce  cost reflective prices,  reliable and  secure electricity  supplies and adequate infrastructure, it  should be  transparent, providing a  level playing  field for all  market participants and have  a mechanism  to detect and  deter  market power  abuse. Most importantly, the market should be robust enough so as not to  result in  the collapse of the power system in the presence of market  flaws.  This paper  looks into  various types  of  markets  among  the  deregulated  electricity  supply  industries  and analyses  market  design  principles  for  efficient and  competitive  markets.  The  paper  puts  special  emphasis  on wholesale energy markets as they form the major trading hub in the electricity market.