Markets Pricing and Deregulation of Utilities

The contents of this book provide a strong theoretical base leading to a better understanding of markets, pricing, and deregulation by utility managers, regulators, and economists.

Author: Michael A. Crew

Publisher: Springer

ISBN: 9781461352839

Category: Business & Economics

Page: 222

View: 659

Markets, Pricing, and Deregulation of Utilities examines the effects of deregulation on the energy and telecommunications industries in an economic environment that has changed dramatically since deregulation was first introduced in those industries several years ago. The contributors to this book discuss the aspects of deregulation that appear to be succeeding and those that seem to be failing. Within that framework, they offer insight as to the possible next stages of regulatory restructuring and reform. The contents of this book provide a strong theoretical base leading to a better understanding of markets, pricing, and deregulation by utility managers, regulators, and economists.

Markets Pricing and Deregulation of Utilities

The contents of this book provide a strong theoretical base leading to a better understanding of markets, pricing, and deregulation by utility managers, regulators, and economists.

Author: Michael A. Crew

Publisher: Springer Science & Business Media

ISBN: 9780792375692

Category: Business & Economics

Page: 222

View: 903

Markets, Pricing, and Deregulation of Utilities examines the effects of deregulation on the energy and telecommunications industries in an economic environment that has changed dramatically since deregulation was first introduced in those industries several years ago. The contributors to this book discuss the aspects of deregulation that appear to be succeeding and those that seem to be failing. Within that framework, they offer insight as to the possible next stages of regulatory restructuring and reform. The contents of this book provide a strong theoretical base leading to a better understanding of markets, pricing, and deregulation by utility managers, regulators, and economists.

Markets Pricing and Deregulation of Utilities

The debacle of electricity deregulation in California has been the clarion call for
reregulation, not just in California electricity but elsewhere. Undoubtedly, there
has ... and J.C. Schuh (eds.), Markets, Pricing, and Deregulation of Utilities, 1-26.

Author: Michael A. Crew

Publisher: Springer Science & Business Media

ISBN: 1461508770

Category: Business & Economics

Page: 222

View: 983

Markets, Pricing, and Deregulation of Utilities examines the effects of deregulation on the energy and telecommunications industries in an economic environment that has changed dramatically since deregulation was first introduced in those industries several years ago. The contributors to this book discuss the aspects of deregulation that appear to be succeeding and those that seem to be failing. Within that framework, they offer insight as to the possible next stages of regulatory restructuring and reform. The contents of this book provide a strong theoretical base leading to a better understanding of markets, pricing, and deregulation by utility managers, regulators, and economists.

Electricity Economics

This text was written as a manual for the Russian Federal Energy Commission to train regional electricity rate regulators in the principles of economics and finance involved in regulating electricity markets and deregulating electricity ...

Author: Martin Schetzen

Publisher: Wiley-IEEE Press

ISBN:

Category: Business & Economics

Page: 278

View: 651

A lucid and up-to-date introduction to understanding electrical power utilities in an era of change Electric utilities worldwide are undergoing profound transformations: nationally owned systems are becoming privatized, privately owned systems that were previously regulated are becoming deregulated, and national systems are becoming international. Professionals in the power sector must now work in a new world in which an understanding of the principles of markets and how to evaluate investment projects under competition are essential. This text was written as a manual for the Russian Federal Energy Commission to train regional electricity rate regulators in the principles of economics and finance involved in regulating electricity markets and deregulating electricity generation. Requiring no familiarity with economics and using a minimum of mathematics, this book provides professionals in the power sector with the tools to face the new realities of electric utility operation. Designed both as a reference for practicing professionals and as a textbook for university and continuing education programs, Electricity Economics: Regulation and Deregulation discusses: The lessons learned from international experiences Competitive versus noncompetitive markets Cost and supply, profit, and economic efficiency The cost of capital, including net present value, discounting, and risk and return Wholesale power markets, generation expansion, and customer choice Specific international examples including the Californian, Norwegian, Spanish, and Argentine power sectors Plus numerous exercises to help clarify and support absorption of the concepts

Electricity Market Reform

Electricity Market Reform examines the most important competitive electricity markets around the world and provides definitive answers as to why some markets have performed admirably, while others have utterly failed, often with dire ...

Author: Fereidoon P. Sioshansi

Publisher: Elsevier

ISBN: 9780080462714

Category: Technology & Engineering

Page: 688

View: 294

Since the late 1980s, policy makers and regulators in a number of countries have liberalized, restructured or “deregulated their electric power sector, typically by introducing competition at the generation and retail level. These experiments have resulted in vastly different outcomes - some highly encouraging, others utterly disastrous. However, many countries continue along the same path for a variety of reasons. Electricity Market Reform examines the most important competitive electricity markets around the world and provides definitive answers as to why some markets have performed admirably, while others have utterly failed, often with dire financial and cost consequences. The lessons contained within are direct relevance to regulators, policy makers, the investment community, industry, academics and graduate students of electricity markets worldwide. Covers electicity market liberalization and deregulation on a worldwide scale Features expert contributions from key people within the electricity sector

Market Operations in Electric Power Systems

Written for both technical and nontechnical professionals involvedin power engineering, finance, and marketing, this must-haveresource discusses: * Market structure and operation of electric power systems * Load and price forecasting and ...

Author: Mohammad Shahidehpour

Publisher: John Wiley & Sons

ISBN: 0471463949

Category: Technology & Engineering

Page: 552

View: 470

An essential overview of post-deregulation market operations inelectrical power systems Until recently the U.S. electricity industry was dominated byvertically integrated utilities. It is now evolving into adistributive and competitive market driven by market forces andincreased competition. With electricity amounting to a $200 billionper year market in the United States, the implications of thisrestructuring will naturally affect the rest of the world. Why is restructuring necessary? What are the components ofrestructuring? How is the new structure different from the oldmonopoly? How are the participants strategizing their options tomaximize their revenues? What are the market risks and how are theyevaluated? How are interchange transactions analyzed and approved?Starting with a background sketch of the industry, this hands-onreference provides insights into the new trends in power systemsoperation and control, and highlights advanced issues in thefield. Written for both technical and nontechnical professionals involvedin power engineering, finance, and marketing, this must-haveresource discusses: * Market structure and operation of electric power systems * Load and price forecasting and arbitrage * Price-based unit commitment and security constrained unitcommitment * Market power analysis and game theory applications * Ancillary services auction market design * Transmission pricing and congestion Using real-world case studies, this timely survey offers engineers,consultants, researchers, financial managers, university professorsand students, and other professionals in the industry acomprehensive review of electricity restructuring and how itsradical effects will shape the market.

Pricing in Competitive Electricity Markets

This book reviews important theoretical pricing issues as well as practical pricing applications for changing electricity markets.

Author: Ahmad Faruqui

Publisher: Springer Science & Business Media

ISBN: 1461545293

Category: Business & Economics

Page: 450

View: 826

Electricity markets are being deregulated or face new regulatory frameworks. In such changing markets, new pricing strategies will need to consider such factors as cost, value of service and pricing by objective. Pricing in Competitive Electricity Markets introduces a new family of pricing concepts, methodologies, models, tools and databases focused on market-based pricing. This book reviews important theoretical pricing issues as well as practical pricing applications for changing electricity markets.

Electricity Markets

Chris Harris has delivered some of the most interesting talks on the conference circuit for years and his enthusiasm for his subject material shines through in this book." —Dr Chris Strickland, Director, Lacima Group

Author: Chris Harris

Publisher: John Wiley & Sons

ISBN: 1119995132

Category: Business & Economics

Page: 542

View: 143

Understand the electricity market, its policies and how they drive prices, emissions, and security, with this comprehensive cross-disciplinary book. Author Chris Harris includes technical and quantitative arguments so you can confidently construct pricing models based on the various fluctuations that occur. Whether you?re a trader or an analyst, this book will enable you to make informed decisions about this volatile industry.

Electric Choices

The essays in this timely collection explore these difficult questions and propose a new, market-based plan to improve America's electrical future. Published in cooperation with The Independent Institute.

Author: Andrew N. Kleit

Publisher: Rowman & Littlefield

ISBN: 9780742548763

Category: Business & Economics

Page: 242

View: 802

Electricity is one of the largest and most vital industries in the U.S. economy, with sales exceeding $200 billion annually. While electricity represents the backbone of commerce, industry, and household production, the structure of the industry has been changing in rather dramatic ways. After being heavily regulated for more than a century by local, state, regional, and federal authorities, deregulation is taking center stage. In general, deregulation results in lower prices, more product choices, and more rapid technological advances. Conversely, rate regulation has inherent flaws, including the encouragement of waste and inefficiency, and a retarding of innovation. There is little doubt to the contributors of this book that putting regulation aside offers enormous efficiency gains in the production of electricity. But can market forces handle the delicate matter of transmitting electricity when the simple model of supply and demand must be more precise than other goods and services? How much regulation does the electric industry need? The essays in this timely collection explore these difficult questions and propose a new, market-based plan to improve America's electrical future. Published in cooperation with The Independent Institute.

Quantitative and Empirical Analysis of Energy Markets

Bringing together leading-edge research and innovative energy markets econometrics, this book collects the authorOCOs most important recent contributions in energy economics. In particular, the book: .

Author: Apostolos Serletis

Publisher: World Scientific

ISBN: 9812770461

Category: Energy industries

Page: 304

View: 339

Bringing together leading-edge research and innovative energy markets econometrics, this book collects the authorOCOs most important recent contributions in energy economics. In particular, the book: . OCo applies recent advances in the field of applied econometrics to investigate a number of issues regarding energy markets, including the theory of storage and the efficient markets hypothesis. OCo presents the basic stylized facts on energy price movements using correlation analysis, causality tests, integration theory, cointegration theory, as well as recently developed procedures for testing for shared and codependent cycles. OCo uses recent advances in the financial econometrics literature to model time-varying returns and volatility in energy prices and to test for causal relationships between energy prices and their volatilities. OCo explores the functioning of electricity markets and applies conventional models of time series analysis to investigate a number of issues regarding wholesale power prices in the western North American markets. OCo applies tools from statistics and dynamical systems theory to test for nonlinear dynamics and deterministic chaos in a number of North American hydrocarbon markets (those of ethane, propane, normal butane, iso-butane, naptha, crude oil, and natural gas)."

The Economics of Electricity Markets

Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style ...

Author: Darryl R. Biggar

Publisher: John Wiley & Sons

ISBN: 1118775724

Category: Science

Page: 432

View: 832

Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes

Restructured Electrical Power Systems

The text contains acronyms, a contract specifications sample, examples, and nearly 500 bibliographic citations, tables, and drawings.

Author: Mohammad Shahidehpour

Publisher: CRC Press

ISBN: 1351830783

Category: Technology & Engineering

Page: 536

View: 331

An examination of key issues in electric utilities restructuring. It covers: electric utility markets in and out of the USA; the Open Access Same-time Information System; tagging transactions; trading energy; hedging tools for managing risks in various markets; pricing volatility, risk and forecasting; regional transmission organization; and more. The text contains acronyms, a contract specifications sample, examples, and nearly 500 bibliographic citations, tables, and drawings.

Market Liberalization an Analysis of the Austrian Electricity Market

Bachelor Thesis from the year 2004 in the subject Economics - Case Scenarios, grade: 1 (A), Vienna University of Economics and Business (New Media Lab), course: Baccalaureut Work, language: English, abstract: The liberalization of the ...

Author: Natascha Ljubic

Publisher: GRIN Verlag

ISBN: 3638702685

Category:

Page: 68

View: 750

Bachelor Thesis from the year 2004 in the subject Economics - Case Scenarios, grade: 1 (A), Vienna University of Economics and Business (New Media Lab), course: Baccalaureut Work, language: English, abstract: The liberalization of the European electricity market is supposed to reduce electricity prices by opening up to competition and by promoting integration of the common European market. Deregulation allows energy consumers to choose their electric energy supplier and therefore dissolves electric utility monopolies. The resulting re-regulation and restructuring of the electricity industry has created oppor-tunities and challenges that need to be addressed to ensure long-term capacity sustainability. The promise and benefit expectations of electricity market liberalization may need to be tempered by the reality of the process. Market liberalization of the electricity supply sector depends on many different factors and boundary conditions in the EU. In order to analyze these issues, we will use Austria as an example showing the development in liberalization, deregulation, and even re-regulation processes and the impact on the industry structure and final consumer pricing. Given the industry structure, incentives to invest in the Austrian transmission and distribution networks remain to be established. We will show that high inflexible taxes and monopoly protected transmission costs, both together account for 80% of the price of electricity. Moreover, only 20% of the electricity market is liberalized and thus any price reductions due to the liberalization of the market will be minimal and therefore possibly "non existent" in Austria.

Deregulation of Electric Utilities

Asserted need to control " windfall profits " resulting from sudden increases in
energy prices not attributable to any ... or " external costs " in the utility's
production of a good or service not reflected in market prices Tresultant
correction seeks to ...

Author:

Publisher:

ISBN:

Category: Electric utilities

Page: 80

View: 454


Electricity Pricing in Transition

This book will provide practitioners with guidance on how to avoid the major pitfalls in pricing electricity while the market is in transition by drawing upon the insights and lessons learned from the experience of others that are ...

Author: Ahmad Faruqui

Publisher: Springer Science & Business Media

ISBN: 1461508339

Category: Business & Economics

Page: 360

View: 596

Electricity Pricing In Transition is written to address the new issues facing utilities, retailers, regulators, and customers in the changing electricity market. It is organized into five sections. Section I deals with the new restructured organization that has emerged from yesterday's vertically integrated, regulated monopoly company. Section II deals with issues in competitive pricing. Section III reviews the role of demand response and product design in today's chaotic marketplace. Given the single importance of California's energy crisis and the fact that it will be studied for years to come, Section IV is devoted to studying the lessons learned from this crisis. The final section of the book deals with markets and regulations. This book will provide practitioners with guidance on how to avoid the major pitfalls in pricing electricity while the market is in transition by drawing upon the insights and lessons learned from the experience of others that are documented in this book.

Public Utilities Fortnightly

Perspective Deregulation 1993 : Be Careful What You Wish for , You Might Get It
and vary widely in terms of customer clout and the magnitude of the pricing
discount . Where is this taking the industry , and what does it mean for financial ...

Author:

Publisher:

ISBN:

Category: Law reports, digests, etc

Page:

View: 149


Energy Policy

[ 33 ] L . Geerli , S . Niioka and R . Yokoyama , “ Electricity Pricing and Load
Dispatching in Deregulated Electricity Market ” , International Journal of Electrical
Power & Energy Systems , March 2002 , pp . 01 - 08 . [ 34 ] L . Geerli , L . Chen
and R ...

Author: Noah B. Jacobs

Publisher: Nova Science Pub Incorporated

ISBN:

Category: Technology & Engineering

Page: 340

View: 730

Energy policy is the manner in which a given entity (often governmental) has decided to address issues of energy development including energy production, distribution and consumption. The attributes of energy policy may include legislation, international treaties, incentives to investment, guidelines for energy conservation, taxation and other public policy techniques. A national energy policy comprises a set of measures involving that country's laws, treaties and agency directives. This book presents the latest research on the economic effects, security aspects and environmental issues connected with energy policy.

Electricity Deregulation

Written with economists and professionals associated with each of the network industries in mind, this comprehensive volume provides a timely and astute deliberation on the many risks and rewards of electricity deregulation.

Author: James M. Griffin

Publisher: University of Chicago Press

ISBN: 9780226308586

Category: Business & Economics

Page: 416

View: 463

The electricity market has experienced enormous setbacks in delivering on the promise of deregulation. In theory, deregulating the electricity market would increase the efficiency of the industry by producing electricity at lower costs and passing those cost savings on to customers. As Electricity Deregulation shows, successful deregulation is possible, although it is by no means a hands-off process—in fact, it requires a substantial amount of design and regulatory oversight. This collection brings together leading experts from academia, government, and big business to discuss the lessons learned from experiences such as California's market meltdown as well as the ill-conceived policy choices that contributed to those failures. More importantly, the essays that comprise Electricity Deregulation offer a number of innovative prescriptions for the successful design of deregulated electricity markets. Written with economists and professionals associated with each of the network industries in mind, this comprehensive volume provides a timely and astute deliberation on the many risks and rewards of electricity deregulation.

The End of a Natural Monopoly

This book addresses the fundamental issues underlying the debate over electric power regulation and deregulation.

Author: Daniel H. Cole

Publisher: Routledge

ISBN: 1135697019

Category: Business & Economics

Page: 256

View: 129

This book addresses the fundamental issues underlying the debate over electric power regulation and deregulation. After decades of the presumption that the electric power industry was a natural monopoly, recent times have seen a trend of deregulation followed by panicked re-regulation. This important book critically analyses this controversial area from a legal and economic perspective.

Pacific Gas and Electric Company s Application for Authorization to Divest Its Hydroelectric Generating Facilities and Related Assets

Key Modeling Requirement Two: Power Market Prices and Bidding Strategies
Electric restructuring has substantially changed ... It is especially important to
note that in deregulated electricity markets prices will rise sharply in certain
periods, ...

Author:

Publisher:

ISBN:

Category: Corporate divestiture

Page:

View: 593