Evaluation of new generation entry in a deregulated electricity market

Wong, K. O., Saha, T. K. and Dong, Z. Y. (2007). Evaluation of new generation entry in a deregulated electricity market. In: Kirshen, D., IEEE Power Engineering Society General Meeting. 2007 IEEE Power Engineering Society General Meeting, Tampa, Florida, USA, (1-7). 24-28 June 2007. doi:10.1109/PES.2007.385903


Author Wong, K. O.
Saha, T. K.
Dong, Z. Y.
Title of paper Evaluation of new generation entry in a deregulated electricity market
Conference name 2007 IEEE Power Engineering Society General Meeting
Conference location Tampa, Florida, USA
Conference dates 24-28 June 2007
Proceedings title IEEE Power Engineering Society General Meeting
Journal name 2007 Ieee Power Engineering Society General Meeting, Vols 1-10
Place of Publication Piscataway, NJ, United States
Publisher IEEE
Publication Year 2007
Sub-type Fully published paper
DOI 10.1109/PES.2007.385903
ISBN 142441296X
1424412986
ISSN 1932-5517
Editor Kirshen, D.
Start page 1
End page 7
Total pages 7
Collection year 2008
Language eng
Abstract/Summary This paper proposed a new evaluation method to investigate new generation entry in deregulated markets. This method can evaluate the expected net revenue of the new generator when the unit is committed into a trading region in the Australia electricity market. The cumulated annual price and load duration curve are used, together with a randomly distributed bid price profile to determine the loading priority of the candidate unit. The approximated bids stacking priority of the generator enables the computation of the revenue for the new unit. Furthermore, stochastic generator conditions such as outages are simulated with Monte Carlo simulation. Value at Risk and Conditional Value at Risk are two of the risk assessment tools used to evaluate the risks associated with the commitment of the candidate units. The simulated and historical price data for the trading region of New South Wales (NSW) in the National Electricity Market (NEM) of Australia are used in this study.
Q-Index Code E1
Q-Index Status Confirmed Code
Institutional Status UQ
Additional Notes Article # 4275669

 
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Created: Wed, 30 Apr 2008, 23:58:57 EST by Donna Clark on behalf of School of Information Technol and Elec Engineering