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Author: Monica Greer Publisher: Elsevier ISBN: 0123854660 Category : Business & Economics Languages : en Pages : 369
Book Description
Packed with case studies and practical real-world examples, Electricity Marginal Cost Pricing Principles allows regulators, engineers and energy economists to choose the pricing model that best fits their individual market. Written by an author with 13 years of practical experience, the book begins with a clear and rigorous explanation of the theory of efficient pricing and how it impacts investor-owned, publicly-owned, and cooperatively-owned utilities using tried and true methods such as multiple-output, functional form, and multiproduct cost models. The author then moves on to include self-contained chapters on applying estimating cost models, including a cubic cost specification and policy implications while supplying actual data and examples to allow regulators, energy economists, and engineers to get a feel for the methods with which efficient prices are derived in today’s challenging electricity market. A guide to cost issues surrounding the generation, transmission, and distribution of electricity Clearly explains cost models which can yield the marginal cost of supplying electricity to end-users Real-world examples that are practical, meaningful, and easy to understand Explans the policy implications of each example Provide suggestions to aid in the formation of the optimal market price
Author: Monica Greer Publisher: Elsevier ISBN: 0123854660 Category : Business & Economics Languages : en Pages : 369
Book Description
Packed with case studies and practical real-world examples, Electricity Marginal Cost Pricing Principles allows regulators, engineers and energy economists to choose the pricing model that best fits their individual market. Written by an author with 13 years of practical experience, the book begins with a clear and rigorous explanation of the theory of efficient pricing and how it impacts investor-owned, publicly-owned, and cooperatively-owned utilities using tried and true methods such as multiple-output, functional form, and multiproduct cost models. The author then moves on to include self-contained chapters on applying estimating cost models, including a cubic cost specification and policy implications while supplying actual data and examples to allow regulators, energy economists, and engineers to get a feel for the methods with which efficient prices are derived in today’s challenging electricity market. A guide to cost issues surrounding the generation, transmission, and distribution of electricity Clearly explains cost models which can yield the marginal cost of supplying electricity to end-users Real-world examples that are practical, meaningful, and easy to understand Explans the policy implications of each example Provide suggestions to aid in the formation of the optimal market price
Author: Mary Hutzler Publisher: DIANE Publishing ISBN: 0788149091 Category : Languages : en Pages : 129
Book Description
Discusses the events that led to current initiatives to restructure the electric power industry, and the institutional and structural changes that will be required to support the competitive pricing of electricity. Describes the analysis assumptions and methodology. Compares electricity prices under regulation and prices under competition. Discusses the sensitivities of the results to key parameters in the analysis cases. Analyzes the cash flow implications of the new competitive prices for utilities. Extensive charts, tables and graphs.
Author: Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
A common approach to regulating electricity is through auction-based competitive wholesale markets. The goal of this approach is to provide a reliable supply of power at the lowest reasonable cost to the consumer. This necessitates market structures and operating rules that ensure revenue sufficiency for all generators needed for resource adequacy purposes. Wholesale electricity markets employ marginal-cost pricing to provide cost-effective dispatch such that resources are compensated for their operational costs. However, marginal-cost pricing alone cannot guarantee cost recovery outside of perfect competition, and electricity markets have at least six attributes that preclude them from functioning as perfectly competitive markets. These attributes include market power, externalities, public good attributes, lack of storage, wholesale price caps, and ineffective demand curve. Until (and unless) these failures are ameliorated, some form of corrective action(s) will be necessary to improve market efficiency so that prices can correctly reflect the needed level of system reliability. Many of these options necessarily involve some form of administrative or out-of-market actions, such as scarcity pricing, capacity payments, bilateral or other out-of-market contracts, or some hybrid combination. A key focus with these options is to create a connection between the electricity market and long-term reliability/loss-of-load expectation targets, which are inherently disconnected in the native markets because of the aforementioned market failures. The addition of variable generation resources can exacerbate revenue sufficiency and resource adequacy concerns caused by these underlying market failures. Because variable generation resources have near-zero marginal costs, they effectively suppress energy prices and reduce the capacity factors of conventional generators through the merit-order effect in the simplest case of a convex market; non-convexities can also suppress prices.
Author: Monica Greer Publisher: Academic Press ISBN: 0080961355 Category : Business & Economics Languages : en Pages : 360
Book Description
A "quick look up guide," Electricity Cost Modeling Calculations places the relevant formulae and calculations at the reader's finger tips. In this book, theories are explained in a nutshell and then the calculation is presented and solved in an illustrated, step-by-step fashion. A valuable guide for new engineers, economists (or forecasters), regulators, and policy makers who want to further develop their knowledge of best practice calculations techniques or experienced practitioners (and even managers) who desire to acquire more useful tips, this book offers expert advice for using such cost models to determine optimally-sized distribution systems and optimally-structured power supplying entities. In other words, this book provides an Everything-that-you-want-to-know-about-cost-modelling-for-electric-utilities (but were afraid to ask) approach to modelling the cost of supplying electricity. In addition, the author covers the concept of multiproduct and multistage cost functions, which are appropriate in modelling the cost of supplying electricity. The author has done all the heavy number-crunching, and provides the reader with real-world, practical examples of how to properly quantify the costs associated with providing electric service, thus increasing the accuracy of the results and support for the policy initiatives required to ensure the competitiveness of the power suppliers in this new world in which we are living. The principles contained herein could be employed to assist in the determination of the cost-minimizing amount of output (i.e., electricity), which could then be used to determine whether a merger between two entities makes sense (i.e., would increase profitability). Other examples abound: public regulatory commissions also need help in determining whether mergers (or divestitures) are welfare-enhancing or not; ratemaking policies depend on costs and properly determining the costs of supplying electric (or gas, water, and local telephone) service. Policy makers, too, can benefit in terms of optimal market structure; after all, the premise of deregulation of the electric industry was predicated on the idea that generation could be deregulated. Unfortunately, the economies of vertical integration between the generation. A comprehensive guide to the cost issues surrounding the generation, transmission, and distribution of electricity Real-world examples that are practical, meaningful, and easy to understand Policy implications and suggestions to aid in the formation of the optimal market structure going forward (thus increasing efficiency of electric power suppliers) The principles contained herein could be employed to assist in the determination of the cost-minimizing amount of output
Author: Ahmad Faruqui Publisher: Springer Science & Business Media ISBN: 1461545293 Category : Business & Economics Languages : en Pages : 463
Book Description
Electricity markets are being deregulated or face new regulatory frameworks. In such changing markets, new pricing strategies will need to consider such factors as cost, value of service and pricing by objective. Pricing in Competitive Electricity Markets introduces a new family of pricing concepts, methodologies, models, tools and databases focused on market-based pricing. This book reviews important theoretical pricing issues as well as practical pricing applications for changing electricity markets.
Author: Ahmad Faruqui Publisher: Springer Science & Business Media ISBN: 1461508339 Category : Business & Economics Languages : en Pages : 372
Book Description
Electricity Pricing In Transition is written to address the new issues facing utilities, retailers, regulators, and customers in the changing electricity market. It is organized into five sections. Section I deals with the new restructured organization that has emerged from yesterday's vertically integrated, regulated monopoly company. Section II deals with issues in competitive pricing. Section III reviews the role of demand response and product design in today's chaotic marketplace. Given the single importance of California's energy crisis and the fact that it will be studied for years to come, Section IV is devoted to studying the lessons learned from this crisis. The final section of the book deals with markets and regulations. This book will provide practitioners with guidance on how to avoid the major pitfalls in pricing electricity while the market is in transition by drawing upon the insights and lessons learned from the experience of others that are documented in this book.
Author: Monica Greer
Author: Monica Greer
Author: Mary Hutzler
Author: United States. Energy Information Administration
Author: 
Author: Monica Greer
Author: Göran Edsbäcker
Author: Ahmad Faruqui
Author: Ahmad Faruqui
Author: Rand Corporation
Author: Anna Cretì