Electricity wholesale markets: Designs now in a low-carbon future

Energy Journal

Volumn 29, Issue SPEC. ISS., 2008, Pages 95-124

  Green, Richard ^a  

^a UNIVERSITY OF BIRMINGHAM   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 56249139379     PISSN: 01956574     EISSN: None     Source Type: Trade Journal    
DOI: 10.5547/issn0195-6574-ej-vol29-nosi2-6     Document Type: Article

References (47)

1. All-Island Project (2007). Annual Capacity Payment Sum: Final Value For 2008, [online], available from http://www.allislandproject.org /en/capacity-payments-consultation. aspx?article=4c42e4O9-l082-4b9c-b9f3-b3e0ac03f564.
2. Baldick, R. and H. Niu (2005). "Lessons Learned: The Texas Experience." In Griffin, J.M. and S.L. Puller, eds., Electricity Deregulation: Choices and Challenges, Chicago, The University of Chicago Press, pp. 182-224.
3. Bathurst, G.N., J. Weatherhill and G. Strbac (2002). "Trading Wind Generation in Short Term Energy Markets" IEEE Transactions on Power Systems, 17(3): 782-789.
4. Bennett, C, (2008). "Evidence given to the House of Lords Economic Affairs Committee inquiry on the Economics of Renewable Energy", uncorrected transcript, accessed at http:// www.publications.parliament.uk/pa/ld/lduncorr/econ240608ev6.pdf.
5. Blumstein, C., L. Friedman and R.J. Green (2002). "The History of Electricity Restructuring in California" Journal of Industry Competition and Trade, 2(1-2): 9-38.
6. Bohn, R.E, M.C. Caramanis, and F.C. Schweppe, (1984). "Optimal Pricing in Electrical Networks over Space and Time", The Rand Journal of Economics, 15(3): 360-76.
7. Brunekreeft, G., K Neuhoff and D.M. Newbery (2005). "Electricity transmission: An overview of the current debate" Utilities Policy 13(2): 73-93.
8. Crampes, C. and N. Fabra (2005). "The Spanish Electricity Industry: Plus ca change...", The Energy Journal, 26(Special Issue): 127-153.
9. Damsgaard, N. and R.J. Green (2005). Regulatory Reform in the Swedish Electricity Industry - Good or Bad? SNS Occasional Paper No 95, Stockholm, SNS Förlag.
10. Energy Security Analysis, Inc (2005). "Impacts of the PJM RTO Expansion: A report prepared for PJM", Wakefield, Ma., ESAI.
11. European Commission (2007). DG Competition Report on Energy Sector Inquiry, 10 January 2007, Brussels, European Commission.
12. Fabra, N., von der Fehr, N-H M., and D. Harbord (2006). "Designing Electricity Auctions" RAND Journal of Economics 37(1): 23-46.
13. Federal Energy Regulatory Commission (2002). Notice of Proposed Rulemaking, Docket No. RM01-12-000, issued July 31, 2002 (the "Standard Market Design"), Washington DC, Federal Energy Regulatory Commission.
14. Franken, N. (2006). "The Danish Solution," New Energy 06(6): 22-25.
15. Futures and Options Association (2007). Request for Proposals for the Delivery of Clearing and Market Services for the UK Wholesale Power Market, 13 June. London, Futures and Options Association, accessed at http://www.foa.co.uk/power/mdp-rfp2007.pdf.
16. Glachant, J.-M., and V. Pignon, (2005). "Nordic Congestion's Arrangement as a Model for Europe? Physical Constraints vs. Economic Incentives", Utilities Policy 13(2): 153-162.
17. Gordijn, J, and H. Akkermans (2007). "Business Models for Distributed Generation in a Liberalized Market Environment", Electric Power Systems Research 77: 1178-1188.
18. Green, R.J. (2005). "Markets and Electricity" Oxford Review of Economic Policy 21(1): 67-87.
19. Green, R.J. (2008). "EU Regulation and Competition Policy among the Energy Utilities" Department of Economics Workiag Paper 08-01, University of Birmingham.
20. Gross, R., P. Heptonstall, D. Anderson, T.C. Green, M. Leach and J. Skea (2006). The Costs and Impacts of Intermittency: An assessment of the evidence on the costs and impacts of intermittent generation on the British electricity network, London, Imperial College.
21. Hawkes, A. and M. Leach (2007). "Cost-effective Operating Strategy for Residential Micro-combined Heat and Power", Energy, 32(5): 711-723.
22. Helman, U, B.F. Hobbs and R.P. O'Neill (2008). "The Design of US Wholesale and Ancillary Service Auction Markets: Theory and Practice." In F.P. Sioshansi, ed. Competitive Electricity Markets: Design, Implementation, Performance, Oxford, Elsevier.
23. Holttinen, H. (2005). "Optimal Electricity Market for Wind Power", Energy Policy, 33(16): 2052-2063. International Energy Agency (2006) World Energy Outlook, Paris, International Energy Agency.
24. Joskow, P.L. (2001). "California's Electricity Crisis", Oxford Review of Economic Policy, 17(3): 365-388.
25. Joskow, P.L. (2008). "Capacity payments in imperfect electricity markets: Need and design" Utilities Policy, 16(3): 159-170.
26. Kabouris, J. and C.D. Vournas (2004). "Application of Interruptible Contracts to Increase Wind-Power Penetration in Congested Areas", IEEE Transactions on Power Systems, 19(3): 1642-1649.
27. Kempton, W. and S.E. Letendre (1997). "Electric Vehicles as a New Power Source for Electric Utilities" Transportation Research Part D: Transport and Environment, 2(3):157-175.
28. Mansur, E. and M. White, (2008). "Market Organization and Efficiency in Electricity Markets" mimeo, Department of Economics, Yale University.
29. Müsgens, F., and K. Neuhoff (2006). Modelling Dynamic Constraints in Electricity Markets and the Costs of Uncertain Wind Output, Electricity Policy Research Group working paper EPRG 0514, University of Cambridge.
30. Newbery, D.M. (1998). "The Regulator's Review of the English Electricity Pool" Utilities Policy, 7(3): 129-142.
31. Newbery, D.M. (2005). "Electricity liberalisation in Britain: The quest for a satisfactory wholesale market design" The Energy Journal, 26(Special Issue): 43-70.
32. Newbery, D.M. (2008). "Reduce the risk of nuclear investment" Financial Times, 9 January.
33. Newbery, D.M. and T.M. McDaniel (2003). "Auctions and Trading in Energy Markets - An Economic Analysis" In R Vass, ed. Regulatory Review 2002/2003 Centre for the Study of Regulated Industries, University of Bath, UK, pp. 195-234.
34. Newbery, D.M. and K. Neuhoff (2008). "Market design for large shares of renewables: time and space" presented at the EPRG Spring Research Seminar, 16 May 2008.
35. Peacock, A.D. and M. Newborough (2007). "Controlling micro-CHP Systems to Modulate Electrical Load Profiles" Energy 32(7): 1093-1103.
36. Pöyry (2008). Compliance Costs for Meeting the 20% Renewable Energy Target in 2020: A report to the Department for Business, Enterprise and Regulatory Reform Oxford, Pöyry Energy Consulting.
37. Roques, F.A. (2008). "Market design for generation adequacy: Healing causes rather than symptoms" Utilities Policy, 16(3):171-183.
38. Schweppe, F.C, M.C. Caramanis, R.D. Tabors, and R.E. Bohn (1988). Spot Pricing of Electricity Boston, Kluwer.
39. Scottish Government (2008). "Transmission of renewable energy", news release of 18 April 2008, accessed at http://www. scotland.gov.uk/News/Releases/2008/04/18085238.
40. Sioshansi, R., S. Oren and R. O'Neill (2008). "The costs of anarchy in self-commitment markets." In F.P. Sioshansi, ed., Competitive Electricity Markets: Design, Implementation, Performance, Oxford, Elsevier, pp. 245-266.
41. Stoft, S.E. (2002). Power System Economics: Designing Markets for Electricity Chichester, Wiley.
42. Strbac, G. (2007). "Electric Power Systems Research on Dispersed Generation", Electric Power Systems Research, 77: 1143-1147.
43. Strbac, G., D. Pudjianto, M. Castro, R Djapic, B. Stojkovska, C. Ramsay and R. Allan (2007). Transmission Investment, Access and Pricing in Systems with Wind Generation DTI Centre for Distributed Generation and Sustainable Electrical Energy.
44. Texas Public Utility Commission (2003). Order Adopting New §25.501 as Approved at the August 21, 2003 Open Meeting, Project No 26376, Austin, Texas PUC.
45. White, M. (1996). "Power Struggles: Explaining Deregulatory Reforms in Electricity Markets", Brookings Papers on Economic Activity, Microeconomics, 1996: 201-250.
46. Wolak, F.A., R. Nordhaus, and C. Shapiro (1998). Preliminary Report On the Operation of the Ancillary Services Markets of the California Independent System Operator (ISO) Prepared by the Market Surveillance Committee of the California ISO, Folsom, California, accessed at http://www.caiso.com/docs/1998/12/18/19981218064938135 77.pdf
47. Wolak, F.A., J. Bushnell and B.F. Hobbs (2007). Final Opinion on "Long-Term Resource Adequacy under MRTU", Market Surveillance Committee of the California ISO, November 5, 2007, Folsom, California.