ELECTRICITY MARGINAL COST PRICING APPLICATIONS IN ELICITING DEMAND RESPONSES

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Electricity Marginal Cost Pricing

Author : Monica Greer
ISBN : 9780123851345
Genre : Science
File Size : 48.50 MB
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Written by an author with 13 years of practical experience, the book begins with a clear and rigorous explanation of the theory of efficient pricing and how it impacts investor-owned, publicly-owned, and cooperatively-owned utilities using tried and true methods such as multiple-output, functional form, and multiproduct cost models. The author then moves on to include self-contained chapters on applying estimating cost models, including a cubic cost specification and policy implications while supplying actual data and examples to allow regulators, energy economists, and engineers to get "a feel" for the methods with which efficient prices are derived in today's challenging electricity market. The book is accompanied by a companion website which will allow for the testing of methods and validating results.
Category: Science

Peak Energy Demand And Demand Side Response

Author : Jacopo Torriti
ISBN : 9781317704485
Genre : Business & Economics
File Size : 76.50 MB
Format : PDF, Kindle
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With different intensities, depending on the season, every morning and evening of any weekday there are the same peaks in electricity demand. Peaks can bring about significantly negative environmental and economic impacts. Demand Side Response is a relatively recent solution in Europe which has the potential to reduce peak demand and ease impending capacity shortages. Peak Energy Demand and Demand Side Response presents evidence on a set of Demand Side Response activities, ranging from price-based to incentive-based programmes and policies. Examples are drawn from different programmes for both residential and non-residential sectors of electricity demand, including Time of Use tariffs, Critical Peak Pricing Automated Demand Controllers and Ancillary Services. The book also looks at the actual energy saving impacts of smart meters, the activities which constitute peak demand and the potential opportunities associated with European smart grids and Capacity Markets. This is the first book presenting comprehensive analysis of the impacts, cost benefits and risks associated with Demand Side Response programmes and policies. It should be of interest to students, scholars and policy-makers in the areas of energy, environmental economics and applied economics.
Category: Business & Economics

Making Competition Work In Electricity

Author : Sally Hunt
ISBN : 0471266027
Genre : Business & Economics
File Size : 70.50 MB
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An expert's perspective on how competition can make this industry work. There has never been a coherent plan to restructure the electricity industry in the USâ??until now. Power expert Sally Hunt gets down to the critical lessons learned from the California power crisis and other deregulated markets, in which competition has been introduced properly and successfully. Hunt presents sensible solutions to power market reform that have been cultivated over her twenty years of professional work in the industry. Sally Hunt (New York, NY) spent twenty years at National Economic Research Associates, where she was head of NERA's U.S. energy practice and a member of the board. Coauthor of Competition and Choice in Electricity with Graham Shuttleworth (0471957828), she has served as Corporate Economist at Con Edison, Deputy Director of the New York City Energy Office, and Assistant Administrator of the New York City Environmental Protection Administration. Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management,asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.
Category: Business & Economics

Competitive Electricity Markets

Author : Fereidoon P. Sioshansi
ISBN : 0080557716
Genre : Technology & Engineering
File Size : 86.54 MB
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After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms. Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change. Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006 Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues Covers timely topics on the evolution of electricity market liberalization worldwide
Category: Technology & Engineering

Electricity Cost Modeling Calculations

Author : Monica Greer
ISBN : 0080961355
Genre : Business & Economics
File Size : 34.82 MB
Format : PDF, Kindle
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A "quick look up guide," Electricity Cost Modeling Calculations places the relevant formulae and calculations at the reader's finger tips. In this book, theories are explained in a nutshell and then the calculation is presented and solved in an illustrated, step-by-step fashion. A valuable guide for new engineers, economists (or forecasters), regulators, and policy makers who want to further develop their knowledge of best practice calculations techniques or experienced practitioners (and even managers) who desire to acquire more useful tips, this book offers expert advice for using such cost models to determine optimally-sized distribution systems and optimally-structured power supplying entities. In other words, this book provides an Everything-that-you-want-to-know-about-cost-modelling-for-electric-utilities (but were afraid to ask) approach to modelling the cost of supplying electricity. In addition, the author covers the concept of multiproduct and multistage cost functions, which are appropriate in modelling the cost of supplying electricity. The author has done all the heavy number-crunching, and provides the reader with real-world, practical examples of how to properly quantify the costs associated with providing electric service, thus increasing the accuracy of the results and support for the policy initiatives required to ensure the competitiveness of the power suppliers in this new world in which we are living. The principles contained herein could be employed to assist in the determination of the cost-minimizing amount of output (i.e., electricity), which could then be used to determine whether a merger between two entities makes sense (i.e., would increase profitability). Other examples abound: public regulatory commissions also need help in determining whether mergers (or divestitures) are welfare-enhancing or not; ratemaking policies depend on costs and properly determining the costs of supplying electric (or gas, water, and local telephone) service. Policy makers, too, can benefit in terms of optimal market structure; after all, the premise of deregulation of the electric industry was predicated on the idea that generation could be deregulated. Unfortunately, the economies of vertical integration between the generation. A comprehensive guide to the cost issues surrounding the generation, transmission, and distribution of electricity Real-world examples that are practical, meaningful, and easy to understand Policy implications and suggestions to aid in the formation of the optimal market structure going forward (thus increasing efficiency of electric power suppliers) The principles contained herein could be employed to assist in the determination of the cost-minimizing amount of output
Category: Business & Economics

The Evolution Of The Us Airline Industry

Author : Eldad Ben-Yosef
ISBN : 0387242139
Genre : Business & Economics
File Size : 65.5 MB
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The Evolution of the US Airline Industry discusses the evolution of the hub-and-spoke network system and the associated price discrimination strategy, as the post-deregulation dominant business model of the major incumbent airlines and its breakdown in the early 2000s. It highlights the role that aircraft – as a production input – and the aircraft manufacturers' strategy have played in shaping this dominant business model in the 1990s. Fierce competition between Airbus and Boeing and plummeting new aircraft prices in the early 2000s have fueled low-cost competition of unprecedented scope, that destroyed the old business model. The impact of the manufacturers' strategy on these trends has been overlooked by industry observers, who have traditionally focused on the demand for air travel and labor costs as the most critical elements in future trends and survivability of major network airlines. The book debates the impact and merit of government regulation of the industry. It examines uncertainty, information problems, and interest group structures that have shaped environmental and safety regulations. These regulations disregard market signals and deviate from standard economic principles of social efficiency and public interest. The Evolution of the US Airline Industry also debates the applicability of traditional antitrust analysis and policies, which conflict with the complex dynamics of real-life airline competition. It questions the regulator's ability to interpret industry conduct in real time, let alone predict or change its course towards a "desirable" direction. The competitive response of the low-cost startup airlines surprised many antitrust proponents, who believed the major incumbent airlines practically blocked significant new entry. This creative market response, in fact, destroyed the major incumbents' power to discriminate pricing – a task the antitrust efforts failed to accomplish.
Category: Business & Economics

Readings In Microeconomic Theory

Author : Manfredi La Manna
ISBN : 1861524498
Genre : Business & Economics
File Size : 86.43 MB
Format : PDF
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Readings in Microeconomics is principally a selection of significant contributions to the field of Microeconomics and the articles have been selected for their readability and for the intellectual stimulation they can provide for an interesting tutorial or essay. They illustrate points of theory in a clear and digestible form and the editor's own views are reflected in the introduction to each section. Readings in Microeconomics includes papers on Resource Allocation, Game Theory, Uncertainty, Demand Theory, Price Discrimination and Product Differentiation, Information, Oligopoly: Theory and an Application, Social Choice Readings in Microeconomics is principally a selection of significant contributions to the field of Microeconomics and the articles have been selected for their readability and for the intellectual stimulation they can provide for an interesting tutorial or essay. They illustrate points of theory in a clear and digestible form and the editor's own views are reflected in the introduction to each section. Readings in Microeconomics includes papers on Resource Allocation, Game Theory, Uncertainty, Demand Theory, Price Discrimination and Product Differentiation, Information, Oligopoly: Theory and an Application, Social Choice
Category: Business & Economics

Electricity Economics

Author : Ralph Turvey
ISBN : UCAL:$B254728
Genre : Business & Economics
File Size : 89.65 MB
Format : PDF
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Category: Business & Economics

Deregulation Of Network Industries

Author : Sam Peltzman
ISBN : 081571341X
Genre : Law
File Size : 26.72 MB
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Although the airline, railroad, telecommunications, and electric power industries are at very different stages in adjusting to regulatory reform, each industry faces the same critical public policy question: Are policymakers taking appropriate steps to stimulate competition or are they turning back the clock by slowing the process of deregulation? This volume addresses that issue and identifies the next steps that policymakers should take to enhance public welfare in the provision of these services. Each chapter identifies the central policy issues that have arisen in each industry as it undergoes transformation to a deregulated environment. The authors reveal the flaws in the residual regulations and make the case for faster and more comprehensive deregulation. A concluding chapter identifies how interest groups continue to exert influence on regulatory agencies and on Congress, potentially undermining deregulation. The papers included here were initially presented in December 1999 at a conference sponsored and organized by the AEI–Brookings Joint Center for Regulatory Studies.
Category: Law