Real-time pricing with ramping costs: A new approach to managing a steep change in electricity demand
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Roger E. Bohn & Michael C. Caramanis & Fred C. Schweppe, 1984. "Optimal Pricing in Electrical Networks over Space and Time," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 360-376, Autumn.
- Burness, H Stuart & Patrick, Robert H, 1991. "Peak-Load Pricing with Continuous and Interdependent Demand," Journal of Regulatory Economics, Springer, vol. 3(1), pages 69-88, March.
- Green, Richard J, 1996. "Increasing Competition in the British Electricity Spot Market," Journal of Industrial Economics, Wiley Blackwell, vol. 44(2), pages 205-216, June.
- Robert E. Dansby, 1978. "Capacity Constrained Peak Load Pricing," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 92(3), pages 387-398.
- Hung-po Chao, 1983. "Peak Load Pricing and Capacity Planning with Demand and Supply Uncertainty," Bell Journal of Economics, The RAND Corporation, vol. 14(1), pages 179-190, Spring.
- Ross Baldick & Ryan Grant & Edward Kahn, 2004. "Theory and Application of Linear Supply Function Equilibrium in Electricity Markets," Journal of Regulatory Economics, Springer, vol. 25(2), pages 143-167, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Werner, Dan, 2014. "Electricity Market Price Volatility: The Importance of Ramping Costs," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169619, Agricultural and Applied Economics Association.
- Chassin, David P. & Behboodi, Sahand & Djilali, Ned, 2018. "Optimal subhourly electricity resource dispatch under multiple price signals with high renewable generation availability," Applied Energy, Elsevier, vol. 213(C), pages 262-271.
- Moarefdoost, M. Mohsen & Lamadrid, Alberto J. & Zuluaga, Luis F., 2016. "A robust model for the ramp-constrained economic dispatch problem with uncertain renewable energy," Energy Economics, Elsevier, vol. 56(C), pages 310-325.
- Yu, Biying & Sun, Feihu & Chen, Chen & Fu, Guanpeng & Hu, Lin, 2022. "Power demand response in the context of smart home application," Energy, Elsevier, vol. 240(C).
- Heshmati, Almas, 2012. "Survey of Models on Demand, Customer Base-Line and Demand Response and Their Relationships in the Power Market," IZA Discussion Papers 6637, Institute of Labor Economics (IZA).
- Naranjo Palacio, Santiago & Valentine, Keenan F. & Wong, Myra & Zhang, K. Max, 2014. "Reducing power system costs with thermal energy storage," Applied Energy, Elsevier, vol. 129(C), pages 228-237.
- Gürtler, Marc & Paulsen, Thomas, 2018. "The effect of wind and solar power forecasts on day-ahead and intraday electricity prices in Germany," Energy Economics, Elsevier, vol. 75(C), pages 150-162.
- Almas Heshmati, 2014. "Demand, Customer Base-Line And Demand Response In The Electricity Market: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 28(5), pages 862-888, December.
- Keon Baek & Sehyun Kim & Eunjung Lee & Yongjun Cho & Jinho Kim, 2021. "Data-Driven Evaluation for Demand Flexibility of Segmented Electric Vehicle Chargers in the Korean Residential Sector," Energies, MDPI, vol. 14(4), pages 1-10, February.
- Haider, Haider Tarish & See, Ong Hang & Elmenreich, Wilfried, 2016. "A review of residential demand response of smart grid," Renewable and Sustainable Energy Reviews, Elsevier, vol. 59(C), pages 166-178.
- Eunjung Lee & Keon Baek & Jinho Kim, 2020. "Evaluation of Demand Response Potential Flexibility in the Industry Based on a Data-Driven Approach," Energies, MDPI, vol. 13(23), pages 1-12, December.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Zugang Liu & Anna Nagurney, 2009. "An integrated electric power supply chain and fuel market network framework: Theoretical modeling with empirical analysis for New England," Naval Research Logistics (NRL), John Wiley & Sons, vol. 56(7), pages 600-624, October.
- Holmberg, Pär & Newbery, David & Ralph, Daniel, 2013.
"Supply function equilibria: Step functions and continuous representations,"
Journal of Economic Theory, Elsevier, vol. 148(4), pages 1509-1551.
- Pär Holmberg & David Newbery & Daniel Ralph, 2008. "Supply Function Equilibria: Step functions and continuous representations," Working Papers EPRG 0829, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
- Holmberg, P. & Newbery, D & Ralph, D., 2008. "Supply Function Equilibria: Step Functions and Continuous Representations," Cambridge Working Papers in Economics 0863, Faculty of Economics, University of Cambridge.
- Holmberg, Pär & Newbery, David & Ralph, Daniel, 2009. "Supply Function Equilibria: Step Functions and Continuous Representations," Working Paper Series 788, Research Institute of Industrial Economics.
- Crawford, Gregory S. & Crespo, Joseph & Tauchen, Helen, 2007. "Bidding asymmetries in multi-unit auctions: Implications of bid function equilibria in the British spot market for electricity," International Journal of Industrial Organization, Elsevier, vol. 25(6), pages 1233-1268, December.
- Willems, Bert & Rumiantseva, Ina & Weigt, Hannes, 2009.
"Cournot versus Supply Functions: What does the data tell us?,"
Energy Economics, Elsevier, vol. 31(1), pages 38-47, January.
- Willems, Bert & Rumiantseva, I. & Weigt, H., 2007. "Cournot Versus Supply Functions : What does the Data Tell us?," Other publications TiSEM d7a366d6-2138-4fea-b888-9, Tilburg University, School of Economics and Management.
- Bert WILLEMS & Ina RUMIANTSEVA & Hannes WEIGT, 2007. "Cournot versus supply functions: what does the data tell us?," Working Papers of Department of Economics, Leuven ces0720, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
- Willems, Bert & Rumiantseva, I. & Weigt, H., 2007. "Cournot versus Supply Functions : What Does the Data tell us?," Discussion Paper 2007-023, Tilburg University, Tilburg Law and Economic Center.
- Willems, Bert & Rumiantseva, I. & Weigt, H., 2007. "Cournot Versus Supply Functions : What does the Data Tell us?," Discussion Paper 2007-63, Tilburg University, Center for Economic Research.
- Willems, Bert & Rumiantseva, I. & Weigt, H., 2007. "Cournot versus Supply Functions : What Does the Data tell us?," Other publications TiSEM d59ac731-8d6c-4cfe-b2d3-0, Tilburg University, School of Economics and Management.
- Javad Khazaei & Golbon Zakeri & Shmuel S. Oren, 2017. "Single and Multisettlement Approaches to Market Clearing Under Demand Uncertainty," Operations Research, INFORMS, vol. 65(5), pages 1147-1164, October.
- Bolle, Friedel & Grimm, Veronika & Ockenfels, Axel & del Pozo, Xavier, 2013. "An experiment on supply function competition," European Economic Review, Elsevier, vol. 63(C), pages 170-185.
- Horowitz, I. & Woo, C.K., 2006. "Designing Pareto-superior demand-response rate options," Energy, Elsevier, vol. 31(6), pages 1040-1051.
- Robert H. Patrick & Frank A. Wolak, 2001. "Estimating the Customer-Level Demand for Electricity Under Real-Time Market Prices," NBER Working Papers 8213, National Bureau of Economic Research, Inc.
- Aitor Ciarreta & María Espinosa, 2010.
"Market power in the Spanish electricity auction,"
Journal of Regulatory Economics, Springer, vol. 37(1), pages 42-69, February.
- Aitor Ciarreta & María Paz Espinosa, 2003. "Market Power In The Spanish Wholesale Electricity Market," Working Papers. Serie AD 2003-22, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Joan Calzada, 2007. "Capacity-based versus time-based access charges in telecommunications," Journal of Regulatory Economics, Springer, vol. 32(2), pages 153-172, October.
- Majid Al-Gwaiz & Xiuli Chao & Owen Q. Wu, 2017.
"Understanding How Generation Flexibility and Renewable Energy Affect Power Market Competition,"
Manufacturing & Service Operations Management, INFORMS, vol. 19(1), pages 114-131, February.
- Majid Al-Gwaiz & Xiuli Chao & Owen Q. Wu, 2017. "Understanding How Generation Flexibility and Renewable Energy Affect Power Market Competition," Manufacturing & Service Operations Management, INFORMS, vol. 19(1), pages 114-131, February.
- Corina Haita-Falah, 2016. "Uncertainty and speculators in an auction for emissions permits," Journal of Regulatory Economics, Springer, vol. 49(3), pages 315-343, June.
- Woo, C.K. & Sreedharan, P. & Hargreaves, J. & Kahrl, F. & Wang, J. & Horowitz, I., 2014. "A review of electricity product differentiation," Applied Energy, Elsevier, vol. 114(C), pages 262-272.
- Aitor Ciarreta & Carlos Gutiérrez-Hita, 2012. "Collusive behaviour under cost asymmetries when firms compete in supply functions," Journal of Economics, Springer, vol. 106(3), pages 195-219, July.
- Jalali, Mohammad Majid & Kazemi, Ahad, 2015. "Demand side management in a smart grid with multiple electricity suppliers," Energy, Elsevier, vol. 81(C), pages 766-776.
- Holmberg, Pär, 2005. "Asymmetric Supply Function Equilibrium with Constant Marginal Costs," Working Paper Series 2005:16, Uppsala University, Department of Economics.
- Victor Avramov, 2020. "Modeling the competition on the electricity stock market," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 65-79.
- Ramesh Johari & John N. Tsitsiklis, 2011. "Parameterized Supply Function Bidding: Equilibrium and Efficiency," Operations Research, INFORMS, vol. 59(5), pages 1079-1089, October.
- Woo, C.K. & Kollman, E. & Orans, R. & Price, S. & Horii, B., 2008. "Now that California has AMI, what can the state do with it?," Energy Policy, Elsevier, vol. 36(4), pages 1366-1374, April.
- Moutinho, Victor & Moreira, António C. & Mota, Jorge, 2014. "Do regulatory mechanisms promote competition and mitigate market power? Evidence from Spanish electricity market," Energy Policy, Elsevier, vol. 68(C), pages 403-412.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:34:y:2006:i:18:p:3634-3643. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/enpol .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.