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Conference Paper: Market Allocation Between Bilateral Contracts and Spot Market without Financial Transmission Rights

TitleMarket Allocation Between Bilateral Contracts and Spot Market without Financial Transmission Rights
Authors
KeywordsElectricity market
Modern portfolio theory
Trading decisions
Issue Date2003
PublisherIEEE.
Citation
IEEE Power Engineering Society General Meeting, Toronto, Ontario, Canada, 13-17 July 2003, v. 2, p. 1011 How to Cite?
AbstractIn the electricity market, it is very important for Generation Companies (Gencos) to decide how to sell energy among different transaction markets in order to maximize profits with relatively low risk. In this paper, two energy transaction markets are considered: spot markets and bilateral contract markets. An energy selling allocation approach with network congestion consideration is established based on modern portfolio theory. Analytical solution for the optimal allocation is derived with given bilateral contract prices and statistical characteristics of the spot market prices. The numerical simulation for energy selling allocation is demonstrated based on the actual data of the USA California power market.
Persistent Identifierhttp://hdl.handle.net/10722/46414
References

 

DC FieldValueLanguage
dc.contributor.authorLiu, Men_HK
dc.contributor.authorWu, FFen_HK
dc.contributor.authorNi, Yen_HK
dc.date.accessioned2007-10-30T06:49:22Z-
dc.date.available2007-10-30T06:49:22Z-
dc.date.issued2003en_HK
dc.identifier.citationIEEE Power Engineering Society General Meeting, Toronto, Ontario, Canada, 13-17 July 2003, v. 2, p. 1011en_HK
dc.identifier.urihttp://hdl.handle.net/10722/46414-
dc.description.abstractIn the electricity market, it is very important for Generation Companies (Gencos) to decide how to sell energy among different transaction markets in order to maximize profits with relatively low risk. In this paper, two energy transaction markets are considered: spot markets and bilateral contract markets. An energy selling allocation approach with network congestion consideration is established based on modern portfolio theory. Analytical solution for the optimal allocation is derived with given bilateral contract prices and statistical characteristics of the spot market prices. The numerical simulation for energy selling allocation is demonstrated based on the actual data of the USA California power market.en_HK
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dc.format.extent12538 bytes-
dc.format.extent11910 bytes-
dc.format.mimetypeapplication/pdf-
dc.format.mimetypetext/plain-
dc.format.mimetypetext/plain-
dc.languageengen_HK
dc.publisherIEEE.en_HK
dc.relation.ispartof2003 IEEE Power Engineering Society General Meeting, Conference Proceedingsen_HK
dc.rights©2003 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.subjectElectricity marketen_HK
dc.subjectModern portfolio theoryen_HK
dc.subjectTrading decisionsen_HK
dc.titleMarket Allocation Between Bilateral Contracts and Spot Market without Financial Transmission Rightsen_HK
dc.typeConference_Paperen_HK
dc.identifier.emailWu, FF: ffwu@eee.hku.hken_HK
dc.identifier.emailNi, Y: yxni@eee.hku.hken_HK
dc.identifier.authorityWu, FF=rp00194en_HK
dc.identifier.authorityNi, Y=rp00161en_HK
dc.description.naturepublished_or_final_versionen_HK
dc.identifier.doi10.1109/PES.2003.1270449en_HK
dc.identifier.scopuseid_2-s2.0-1542269724en_HK
dc.identifier.hkuros89855-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-1542269724&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume2en_HK
dc.identifier.spage1007en_HK
dc.identifier.epage1011en_HK
dc.identifier.scopusauthoridLiu, M=36014543100en_HK
dc.identifier.scopusauthoridWu, FF=7403465107en_HK
dc.identifier.scopusauthoridNi, Y=7402910021en_HK

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