Power system economics: the Nordic electricity market
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | Norwegian |
| Published: |
Trondheim
Tapir
2012
|
| Edition: | 2. ed. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | 365 S. graph. Darst. |
| ISBN: | 9788251928632 |
Staff View
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| 245 | 1 | 0 | |a Power system economics |b the Nordic electricity market |c Ivar Wangensteen |
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Record in the Search Index
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| adam_text | Titel: Power system economics
Autor: Wangensteen, Ivar
Jahr: 2012
Table of contents
1 Introduction...........................................................................9
1.1 Short summary...............................................................................................9
1.2 The power system.........................................................................................10
1.3 Traditional organization..............................................................................11
1.4 Restructuring................................................................................................11
1.5 Special features of electricity.......................................................................12
2 Basic microeconomics..........................................................15
2.1 Introduction..................................................................................................15
2.2 Supply, demand and the market balance...................................................15
2.3 Demand elasticity..........................................................................................17
2.4 Production cost.............................................................................................19
2.5 Aggregate supply..........................................................................................22
2.6 Competition...................................................................................................23
2.7 Producer and consumer surplus..................................................................24
2.8 Imperfect competition (market power).......................................................25
2.9 Externalities..................................................................................................30
2.10 References......................................................................................................32
3 Electricity consumption......................................................33
3.1 General..........................................................................................................33
3.1.1Characterization...........................................................................................33
3.1.2 Categorization.................................................................................34
3.2 Demand drivers.............................................................................................35
3.2.1 Income elasticity.............................................................................35
3.2.2 Price elasticity.................................................................................38
3.3 Load research................................................................................................41
3.3.1 Load measurements........................................................................43
3.3.2 Factors influencing the load level...................................................43
3.3.3 Load aggregation............................................................................44
3.4 Load management........................................................................................59
Table of contents
3.5 References......................................................................................................60
4 Pricing...................................................................................61
4.1 Introduction...................................................................................................61
4.2 Marginal cost pricing...................................................................................62
4.3 Dynamic pricing............................................................................................66
4.3.1 Time Of Use (TOU) rates..............................................................66
4.3.2 Spot pricing.....................................................................................70
4.4 Ramsey pricing..............................................................................................71
4.5 Tariffs............................................................................................................75
4.6 References......................................................................................................76
5 Restructuring/Deregulation of the Electricity Supply
Industry......................................................................................77
5.1 Terminology..................................................................................................77
5.2 Economy of Scale and Unbundling in the Power System..........................77
5.3 Privatization..................................................................................................79
5.4 Stranded costs...............................................................................................79
5.5 Roles and responsibilities in a restructured system...................................80
5.5.1 Regulator.........................................................................................80
5.5.2 Producers.........................................................................................81
5.5.3 Grid Companies..............................................................................81
5.5.4 End users.........................................................................................82
5.5.5 Power Exchange (PX).....................................................................83
5.5.6 System Operator (SO).....................................................................83
5.5.7 Balance responsible entities............................................................84
5.5.8 Suppliers.........................................................................................85
5.5.9 T raders and Brokers........................................................................85
5.5.10 Market Participants.........................................................................85
5.6 Market design................................................................................................86
5.6.1 Market access..................................................................................86
5.6.2 Exchange/pooling............................................................................87
5.6.3 Reserves and balancing...................................................................91
5.6.4 Physical and financial trade............................................................92
5.7 Restructuring in different countries...........................................................93
5.8 The Norwegian and Nordic restructuring..................................................97
5.8.1 Introduction.....................................................................................97
4
Table of contents
5.8.2 Organizational and technical factors...............................................97
5.8.3 Organizational structure before restructuring.................................98
5.8.4 Maj or arguments for restructuring..................................................99
5.8.5 The Nordic generating system......................................................100
5.8.6 The organization of the new market.............................................101
5.8.7 The Exchange - Nord Pool Spot and NASDAQ OMX................103
5.9 Developments in the Norwegian and Nordic market...............................106
5.9.1 The pool s influence on the general price level............................106
5.9.2 Investments and power balance....................................................110
5.9.3 Market Efficiency.........................................................................111
5.9.4 Market growth at Nord Pool.........................................................113
5.9.5 Market information and statistics..................................................114
5.10 Retail access.................................................................................................115
5.11 References....................................................................................................116
6 Power generation...............................................................119
6.1 Introduction................................................................................................119
6.2 Characteristics of generating units...........................................................119
6.2.1 Thermal units................................................................................119
6.2.2 Hydropower units..........................................................................121
6.3 Generation scheduling................................................................................123
6.3.1 Merit order....................................................................................124
6.3.2 Optimal Dispatch..........................................................................124
6.3.3 Unit commitment..........................................................................127
6.3.4 Scheduling.....................................................................................129
6.3.5 Hydro scheduling..........................................................................130
6.4 Market modeling (EMPS)..........................................................................142
6.4.2 The EMPS simulation part............................................................144
6.5 Generation planning in an open market...................................................148
6.5.1 Introduction...................................................................................148
6.5.2 Problem formulation in the traditional and deregulated environment
......................................................................................................149
6.5.3 Unit commitment in an open market.............................................150
6.5.4 Hydro generation..........................................................................152
6.6 Generation planning in practice................................................................157
6.6.1 Overview.......................................................................................157
6.6.2 Long-term scheduling...................................................................159
6.6.3 The medium-term scheduling model............................................161
6.6.4 The short-term scheduling model.................................................161
6.6.5 Details about the bidding and price clearing process....................162
5
Table of contents
6.6.6 The Balancing Market...................................................................165
6.7 Optimal mix of generating units................................................................167
6.7.1 Optimal mix based on cost minimization......................................167
6.7.2 The revenue problem....................................................................170
6.7.3 Introduction of load shedding.......................................................172
6.8 References....................................................................................................174
7 Grid access.........................................................................177
7.1 Introduction/definition of concepts...........................................................177
7.2 Congestion Management............................................................................182
7.2.1 Introduction...................................................................................182
7.2.2 Congestion Management Based on Area Pricing..........................183
7.2.3 Consequences of a Buy-Back Procedure......................................194
7.3 Price Calculation Based on Optimal Power Flow (OPF)........................198
7.3.1 Principle........................................................................................199
7.3.2 Nodal Prices..................................................................................206
7.3.3 Marginal transmission losses and nodal prices.............................208
7.3.4 Timing and data............................................................................209
7.3.5 Compensation for transmission losses..........................................210
7.3.6 Location of the market place (hub)...............................................211
7.3.7 Security of supply.........................................................................213
7.3.8 Three-node DC example...............................................................216
7.3.9 Three-node DC Equivalent...........................................................220
7.3.10 Hydro and Hydro-thermal Systems...............................................225
7.3.11 DC-equivalent. 11 node (zone) power system.............................232
7.4 Transmission/Distribution (T/D) tariffs....................................................241
7.4.1 General requirements....................................................................241
7.4.2 The Nordic T/D tariff system........................................................242
7.4.3 Congestion management in the Nordic system.............................248
7.4.4 Congestion management in Europe..............................................248
7.5 Nordic power exchange before 1991.........................................................251
7.5.1 Responsibility for operation of the Nordic system.......................252
7.5.2 Power exchange in case of disturbances.......................................253
7.6 References....................................................................................................255
8 Ancillary services...............................................................275
8.1 Purpose and definition...............................................................................275
8.2 Classification...................................................................................... 277
8.2.1 Balancing services................................................................... 281
6
Table of contents
8.2.2 System services.............................................................................281
8.3 Reserve requirement..................................................................................282
8.4 Automatic control.......................................................................................283
8.5 Balancing.....................................................................................................287
8.6 Costs.............................................................................................................289
8.6.1. Costs for Active Reserves.............................................................289
8.7 A simple model for pricing of reserves.....................................................292
8.7.1 Purpose..........................................................................................292
8.7.2 Assumptions and border conditions..............................................292
8.7.3 Balance between the Spot Market and the reserves market..........293
8.8 The Norwegian and Nordic system...........................................................297
8.8.1 Primary reserve.............................................................................297
8.9 Some experiences........................................................................................299
8.9.1 The Balancing Market (BM).........................................................299
8.9.2 The Reserve Option Market (ROM).............................................301
8.9.3 Special conditions for consumption side reserves........................304
8.9.4 Results from the first two rounds..................................................305
8.9.5 Development during the next few years.......................................307
8.10 References....................................................................................................308
9 Costs and regulation of grid monopolies.........................311
9.1 Grid costs.....................................................................................................311
9.2 Economy of scale in electricity distribution and transmission...............312
9.3 Monopoly regulation..................................................................................315
9.3.1 Definition......................................................................................315
9.3.2 Pricing for a natural monopoly.....................................................315
9.3.3 The objective for monopoly regulation.........................................316
9.3.4 Presumptions.................................................................................318
9.3.5 Alternative mechanisms................................................................319
9.4 The English price cap regulation...............................................................323
9.5 The Norwegian revenue cap regulation....................................................324
9.5.1 Overview.......................................................................................325
9.5.2 Price indexing...............................................................................326
9.5.3 Efficiency requirement..................................................................327
9.5.4 Efficiency measurement by DEA.................................................327
9.5.5 Revenue to cover costs for increased delivery..............................329
9.5.6 Compensation for Energy Not Supplied (CENS).........................329
7
Table of contents
9.6 References....................................................................................................331
10 Environment policy...........................................................333
10.1 Introduction.................................................................................................333
10.2 Policy instruments, overview.....................................................................334
10.2.1 General instruments......................................................................334
10.2.2 Sector specific instruments...........................................................335
10.3 Cap or tax....................................................................................................337
10.4 Environmental taxes and subsidies...........................................................339
10.4.1 General..........................................................................................339
10.4.2 Operational consequences.............................................................341
10.4.3 Long term impacts........................................................................342
10.5 Cap and trade..............................................................................................345
10.6 Tradable Green Certificates......................................................................347
10.6.1 The goal of TGCs..........................................................................348
10.6.2 Supply and demand of green certificates......................................349
10.7 TGCs and standard economic theory.......................................................350
10.7.1 A socio-economic approach..........................................................351
10.7.2 Conditions for a stable TGC market.............................................361
10.8 References....................................................................................................362
Abbreviations...........................................................................363
8
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| spelling | Wangensteen, Ivar Verfasser (DE-588)171421701 aut Power system economics the Nordic electricity market Ivar Wangensteen 2. ed. Trondheim Tapir 2012 365 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Electric utilities Scandinavia Elektrizitätsmarkt (DE-588)4328181-3 gnd rswk-swf Skandinavien Skandinavien (DE-588)4055209-3 gnd rswk-swf Skandinavien (DE-588)4055209-3 g Elektrizitätsmarkt (DE-588)4328181-3 s DE-604 Erscheint auch als Online-Ausgabe, EPUB 978-82-519-2856-4 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027220907&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Wangensteen, Ivar Power system economics the Nordic electricity market Electric utilities Scandinavia Elektrizitätsmarkt (DE-588)4328181-3 gnd |
| subject_GND | (DE-588)4328181-3 (DE-588)4055209-3 |
| title | Power system economics the Nordic electricity market |
| title_auth | Power system economics the Nordic electricity market |
| title_exact_search | Power system economics the Nordic electricity market |
| title_full | Power system economics the Nordic electricity market Ivar Wangensteen |
| title_fullStr | Power system economics the Nordic electricity market Ivar Wangensteen |
| title_full_unstemmed | Power system economics the Nordic electricity market Ivar Wangensteen |
| title_short | Power system economics |
| title_sort | power system economics the nordic electricity market |
| title_sub | the Nordic electricity market |
| topic | Electric utilities Scandinavia Elektrizitätsmarkt (DE-588)4328181-3 gnd |
| topic_facet | Electric utilities Scandinavia Elektrizitätsmarkt Skandinavien |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027220907&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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