Zhao, Jiawei and Lo, Kwok Lun and Lu, Jianfeng (2016) Variously worldwide types of deregulated electricity markets and their respective transmission congestion management schemes. In: 51st International Universities' Power Engineering Conference, 2016-09-06 - 2016-09-09, Coinmbra Institute of Engineering.
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In this paper, four practical and successful deregulated electricity markets: the old England & Wales Pool, the British Electricity Trading and Transmission Arrangements (BETTA), Nordic Pool and PJM interconnection will be briefly explained and discussed on their histories, structures, rules and also advantages and disadvantages. The old England & Wales Pool was a typical Pool type market which was one of the first successful electricity market deregulations but now had been replaced by the BETTA which is based on the bilateral and balancing mechanism. Nordic Pool and PJM are hybrid markets which combine both pool and bilateral principles. With maturing deregulated mechanism, transmission congestion becomes an urgent problem for all markets. Uniform marginal price, locational marginal price and zonal price are three typical methods in Pool and Hybrid market for congestion management. Locational marginal price is regarded as more efficient than other two when it comes to the market power dilution. In bilateral market, four transaction curtailments based on four rules: first come first serve, pro rata, minimum-net curtailment and price based are utilized to relieve congestion.
|Item type:||Conference or Workshop Item (Paper)|
|Notes:||(c) 2016 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other users, including reprinting/ republishing this material for advertising or promotional purposes, creating new collective works for resale or redistribution to servers or lists, or reuse of any copyrighted components of this work in other works.|
|Keywords:||deregulated electricity market, transmission congestion management, uniform marginal price, locational marginal price, zonal price, transaction curtailment, Electrical engineering. Electronics Nuclear engineering, Energy Engineering and Power Technology, Economics, Econometrics and Finance (miscellaneous)|
|Subjects:||Technology > Electrical engineering. Electronics Nuclear engineering|
|Department:||Faculty of Engineering > Electronic and Electrical Engineering
Faculty of Engineering
Strathclyde Business School
|Depositing user:||Pure Administrator|
|Date Deposited:||02 Dec 2016 09:47|
|Last modified:||01 Apr 2017 16:08|