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Reliability Management in Competitive Electricity Markets

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  • Chao, Hung-Po
  • Peck, Stephen C

Abstract

This paper examines market design issues for reliability management in competitive power markets. The institutional structure is characterized by a power exchange that conducts electricity market trading, a system operator that operates the electric power system, and a property right system for transmission pricing. In a competitive market, priority insurance fosters market information for determining efficient system reliability levels and induces system operators to maintain system security efficiently. A six-node network example is examined to illustrate the basic insights. Copyright 1998 by Kluwer Academic Publishers

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  • Chao, Hung-Po & Peck, Stephen C, 1998. "Reliability Management in Competitive Electricity Markets," Journal of Regulatory Economics, Springer, vol. 14(2), pages 189-200, September.
    • Handle: RePEc:kap:regeco:v:14:y:1998:i:2:p:189-200
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