Title :
Analysis of Price Spiking in Electricity Markets
Author :
Zhou, Hao ; Zhang, Quan ; Zhang, Fuqiang
Author_Institution :
Coll. of Electr. Eng., Zhejiang Univ., Hangzhou
Abstract :
With the developing of the worldwide reform of electricity market, the participants of the market have been encountering unprecedented market risk, especially huge financial risk evoked by the price fluctuations. Although nearly everybody pays attention to the phenomenon of price spiking in electricity markets, there is little clear analysis. Based on the actual historical bid data of Zhejiang electricity market, this paper defined SPCP (system price capacity percent) and analyzed the relation of system price capacity percent and electricity price. The results indicate the mechanism of price spiking in electricity markets, which will be good for participants and administrators to understand the origin and mechanism of the price spiking in electricity markets, and also will make for the development of electricity markets
Keywords :
power markets; pricing; SPCP; electricity markets; price spiking; Analytical models; Costs; Decision making; Delay effects; Electricity supply industry; Fluctuations; Mesh generation; Particle measurements; Power generation; Surveillance; Bidding strategy; Electricity market; Price spiking; System price capacity percent;
Conference_Titel :
Transmission and Distribution Conference and Exhibition: Asia and Pacific, 2005 IEEE/PES
Conference_Location :
Dalian
Print_ISBN :
0-7803-9114-4
DOI :
10.1109/TDC.2005.1546930