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Conference Paper: Capacity payments and the pricing of reliability in competitive generation markets

TitleCapacity payments and the pricing of reliability in competitive generation markets
Authors
KeywordsPower generation reliability
Power generationi economics
Power system reliability
Power system economics
Power generation planning
Issue Date2000
PublisherI E E E, Computer Society. The Journal's web site is located at http://csdl2.computer.org/persagen/DLPublication.jsp?pubtype=p&acronym=HICSS
Citation
The 33rd Annual Hawaii International Conference on System Sciences Proceedings, 4-7 January 2000 How to Cite?
AbstractIn restructured electric power industries around the world, power pool designers have enabled generators to earn revenues consisting of energy and capacity payments. This paper discusses uses and abuses of capacity payments, and links provision of these payments to the issue of pricing reliability. A general formula for determining the ideal capacity price in a generation supply system is presented and the theoretical basis discussed. Methods of achieving an ideal level of system reliability through price-setting of capacity payments (in more regulated markets) and through price discovery (in more competitive markets) are contrasted. The paper concludes with market design recommendations that could better realize customer preference for reliability at prices customers are willing to pay.
Persistent Identifierhttp://hdl.handle.net/10722/46178
ISSN

 

DC FieldValueLanguage
dc.contributor.authorChuang, Angela Sen_HK
dc.contributor.authorWu, Felix Fen_HK
dc.date.accessioned2007-10-30T06:44:11Z-
dc.date.available2007-10-30T06:44:11Z-
dc.date.issued2000en_HK
dc.identifier.citationThe 33rd Annual Hawaii International Conference on System Sciences Proceedings, 4-7 January 2000en_HK
dc.identifier.issn1060-3425en_HK
dc.identifier.urihttp://hdl.handle.net/10722/46178-
dc.description.abstractIn restructured electric power industries around the world, power pool designers have enabled generators to earn revenues consisting of energy and capacity payments. This paper discusses uses and abuses of capacity payments, and links provision of these payments to the issue of pricing reliability. A general formula for determining the ideal capacity price in a generation supply system is presented and the theoretical basis discussed. Methods of achieving an ideal level of system reliability through price-setting of capacity payments (in more regulated markets) and through price discovery (in more competitive markets) are contrasted. The paper concludes with market design recommendations that could better realize customer preference for reliability at prices customers are willing to pay.en_HK
dc.format.extent110298 bytes-
dc.format.extent12538 bytes-
dc.format.mimetypeapplication/pdf-
dc.format.mimetypetext/plain-
dc.languageengen_HK
dc.publisherI E E E, Computer Society. The Journal's web site is located at http://csdl2.computer.org/persagen/DLPublication.jsp?pubtype=p&acronym=HICSSen_HK
dc.relation.ispartofProceedings of the Hawaii International Conference on System Sciencesen_HK
dc.rights©2000 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.en_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectPower generation reliabilityen_HK
dc.subjectPower generationi economicsen_HK
dc.subjectPower system reliabilityen_HK
dc.subjectPower system economicsen_HK
dc.subjectPower generation planningen_HK
dc.titleCapacity payments and the pricing of reliability in competitive generation marketsen_HK
dc.typeConference_Paperen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1060-3425&volume=&spage=&epage=&date=2000&atitle=Capacity+payments+and+the+pricing+of+reliability+in+competitive+generation+marketsen_HK
dc.identifier.emailWu, Felix F: ffwu@eee.hku.hken_HK
dc.identifier.authorityWu, Felix F=rp00194en_HK
dc.description.naturepublished_or_final_versionen_HK
dc.identifier.scopuseid_2-s2.0-0033891860en_HK
dc.identifier.hkuros51360-
dc.identifier.spage100en_HK
dc.identifier.epage100en_HK
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridChuang, Angela S=7006267881en_HK
dc.identifier.scopusauthoridWu, Felix F=7403465107en_HK

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