DocumentCode
1823257
Title
Impact of bilateral contracts on the price volatility in the electricity market
Author
Wang, Guanli ; Hung, Hui-Chih
Author_Institution
Dept. of Ind. & Syst. Eng., Nat. Univ. of Singapore, Singapore, Singapore
fYear
2010
fDate
7-10 Dec. 2010
Firstpage
1636
Lastpage
1640
Abstract
One of the evident consequences of the deregulation in electricity industry is the volatility of market clearing prices (MCP). In this paper, we use variance to measure this price volatility and propose supply function equilibria and Cournot models to characterize the impact of bilateral contracts on the variance of MCP. As the result, we show that bilateral contracts reduce the variance of MCP. Finally, a numerical study based on Singapore electricity market to support our models is presented.
Keywords
power markets; Cournot models; Singapore electricity market; bilateral contracts; electricity industry; market clearing prices; price volatility; Electricity; Electricity supply industry; Equations; Forward contracts; Mathematical model; Numerical models; Bilateral contracts; electricity; market clearing prices; variance;
fLanguage
English
Publisher
ieee
Conference_Titel
Industrial Engineering and Engineering Management (IEEM), 2010 IEEE International Conference on
Conference_Location
Macao
ISSN
2157-3611
Print_ISBN
978-1-4244-8501-7
Electronic_ISBN
2157-3611
Type
conf
DOI
10.1109/IEEM.2010.5674290
Filename
5674290
Link To Document