DocumentCode :
420390
Title :
Three electricity market principles and electricity value equivalent (EVE) pricing methodology
Author :
Mao-song, Yan
Author_Institution :
Shanghai Univ., China
Volume :
1
fYear :
2004
fDate :
5-8 April 2004
Firstpage :
13
Abstract :
This paper presents the three market principles and the electricity value equivalent (EVE) pricing method. The developed electricity market pricing methodology have solved the three great difficult market problems in the world. We have also researched the market character of EVE pricing methods using analysis method and the intelligent agent-based method, taking into account the bidding action (Bertrand game) and the withholding capacity action (Cournot game) of participants and comparing with the uniform cleaning pricing (UCP) and pay as bid (PAB) pricing. Besides the market efficiency and the capacity adequate return, the results show that the EVE pricing method can induce the power suppliers bidding according to their true operation cost and without capacity withholding. This is an invaluable, market character. We call it market ´inductivity´ which is different from reliability, stability and robustness etc. As we know that there are no such properties for any other pricing methods.
Keywords :
multi-agent systems; power engineering computing; power markets; power system economics; power system reliability; power system stability; pricing; analysis method; bidding action; electricity market principles; electricity value equivalent pricing methodology; intelligent agent-based method; market efficiency; pay as bid; power suppliers bidding; uniform cleaning pricing; withholding capacity action; Automatic voltage control; Costs; Economies of scale; Electricity supply industry; Government; Investments; Power generation economics; Power industry; Power system economics; Pricing;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Electric Utility Deregulation, Restructuring and Power Technologies, 2004. (DRPT 2004). Proceedings of the 2004 IEEE International Conference on
Print_ISBN :
0-7803-8237-4
Type :
conf
DOI :
10.1109/DRPT.2004.1338459
Filename :
1338459
Link To Document :
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