Two-settlement electric power markets with dynamic-price customers

Author

Zhao, Huan ; Thomas, Auswin ; Jahangiri, Pedram ; Cai, Chengrui ; Tesfatsion, Leigh ; Aliprantis, Dionysios

Author_Institution

Econ. Dept., Iowa State Univ., Ames, IA, USA

fYear

2011

Firstpage

1

Lastpage

2

Abstract

This study will report both analytical and computational testbed findings regarding the effects of retail dynamic-price contracting on power system operations. The key issue under study is the extent to which the introduction of dynamic price contracts for retail consumers affects the efficiency of both retail and wholesale power market operations through changes in price volatility and load profiles at wholesale, and through re-allocations of risk between load-serving entities and retail consumers.

Keywords

contracts; power markets; pricing; risk analysis; dynamic price contracts; dynamic-price customers; load profiles; power system operations; price volatility; retail dynamic-price contracting effect; two-settlement electric power markets; wholesale power market operations; Contracts; Educational institutions; Power markets; Power system dynamics; Pricing; Restructured electric power markets; agent-based testbed; locational marginal pricing; retail dynamic pricing; two-settlement system;

fLanguage

English

Publisher

ieee

Conference_Titel

Power and Energy Society General Meeting, 2011 IEEE

Conference_Location

San Diego, CA

ISSN

1944-9925

Print_ISBN

978-1-4577-1000-1

Electronic_ISBN

1944-9925

Type

conf

DOI

10.1109/PES.2011.6038991

Filename

6038991