Abstract: In June 2000, after two years of fairly smooth operation, California's deregulated wholesale electricity market began producing extremely high prices and threats of supply shortages. The upheaval demonstrated dramatically why most current electricity markets are extremely volatile: demand is difficult to forecast and exhibits virtually no price responsiveness, while supply faces strict production constraints and prohibitive storage costs. This structure leads to periods of surplus and of shortage, the latter exacerbated by sellers' ability to exercise market power. Electricity markets can function much more smoothly, however, if they are designed to support price-responsive demand and long-term wholesale contracts for electricity.

Abstract: It is expected that dispersed generation (DG) will play an increasing role in electric power systems in the near future. Among the benefits that DG can give to the power system operators and to the electricity customers, one of the most attractive is the possibility of improving the continuity of power supply. DG plants can be designed to supply portions of the distribution grid in the event of an upstream supply outage. Techniques for controlling DG plants that use feedback of only locally measurable variables are presented. This solution allows correct system operation and switching between parallel and isolated modes without needing online communication of control signals between the generators. The control technique is described with particular reference to inverter-interfaced systems (micro-turbines, fuel cells). Simulations of sample cases including different size and type of generators are presented.

Abstract: The electric vehicle is an exciting object on which to apply "advanced motion control" technique. As an electric vehicle is driven by electric motors, it has three advantages: (1) motor torque generation is fast and accurate, (2) motors can be installed in 2 or 4 wheels, and (3) motor torque can be known precisely. These advantages enable us to easily realize (1) high performance antilock braking system (ABS) and traction control system (TCS) with minor feedback control at each wheel, (2) chassis motion control like direct yaw control (DYC), and (3) estimation of road surface condition. "UOT Electric March II" is our novel experimental EV with four in-wheel motors. This EV is made for intensive study of advanced motion control of an electric vehicle, which can be firstly realized by electric vehicle.

Abstract: As a result of the increasing consumer demand for minimally-processed fresh-like food products with high sensory and nutritional qualities, there is a growing interest in non-thermal processes for food processing and preservation. Key advanced technologies such as high-pressure processing, pulsed electric fields, dense gases and ultrasound are being applied to develop gentle but targeted processes to further improve the quality and safety of processed foods. These technologies also offer the potential for improving existing processes as well as for developing new process options. Furthermore, by adding new process dimensions (such as hydrostatic pressure, electric fields, ultrasonics, supercritical CO2) to the conventional process variables of temperature and time, they facilitate enlargement of the availability of unit operations. These operations might be applied effectively in unique combination processes, or as subsequent processing tools in more-targeted and subsequently less-intensive processes for food preservation and modification than the currently-applied processes.

Abstract: In this paper we study strategies for generators making offers into electricity markets in circumstances where both the demand for electricity and the behaviour of competing generators is unknown but can be represented by a probability distribution. Given this probability distribution, we derive necessary optimality conditions for a broad class of supply offer curves. We show how these conditions can be used to construct an optimal solution for a simple example. We also consider the case in which a generator is restricted in the number of prices at which power can be offered.

Abstract: In this paper, we study strategies for generators making offers into electricity markets in circumstances where demand is unknown in advance. We concentrate on a model with smooth supply functions and derive conditions under which a single supply function can represent an optimal response to the offers of the other market participants over a range of demands. In order to apply this approach in practice, it may be necessary to approximate the supply functions of other players. We derive bounds on the loss in revenue that occurs in comparison with the exact supply function response, when a generator uses an approximation both for its own supply function and for the supply functions of other players. We also demonstrate the existence of symmetric supply-function equilibria.

Abstract: Because critical infrastructures touch us all, the growing potential for infrastructure problems stems from multiple sources, including system complexity, economic growth, deregulation, terrorism, and even the weather. Electric power systems constitute the fundamental infrastructure of modern society. A successful terrorist attempt to disrupt electricity supplies could have devastating effects on national security, the economy, and every citizen's life. Yet power systems have widely dispersed assets that can never be absolutely defended against a determined attack. Indeed, because of the intimate connections between power systems and society's other infrastructures, we need to consider three different kinds of threats: attacks upon the power system; attacks by the power system; and attacks through the power system.

Abstract: A growth accounting methodology is used to compare the contributions to growth in terms of capital-deepening and total factor productivity growth of three general-purpose technologies, namely, steam in Britain during 1780-1860, electricity and information and communications technology in the United States during 1899-1929 and 1974-2000, respectively. The format permits explicit comparison of earlier episodes with the results for ICT obtained by Oliner and Sichel. The results suggest that the contribution of ICT was already relatively large before 1995 and it is suggested that the true productivity paradox is why economists expected more sooner from ICT.

Abstract: Over the past decade, feed-in tariffs have been a major instrument of European countries to promote the generation of electricity by means of renewable energy sources. This paper discusses the performance of feed-in tariffs to stimulate renewable electricity in European countries, particularly in Germany, Denmark and Spain. It concludes that a system of premium feedin tariffs has shown to be an effective instrument to promote the generation of renewable electricity, notably to ensure a low-level market take-off of wind power at the national level. In the longer term, however, such a system may become hard to sustain as it may suffer from some major drawbacks, especially when the generation of green electricity accounts for a significant share in total power production. These disadvantages refer particularly to the fact that a system of fixed premium prices tends to be costly, inefficient, distortive of competitive pricing and, hence, incompatible with the creation of a single, liberalised electricity market in Europe.

Abstract: Electricity markets are complex adaptive systems that operate under a wide range of rules that span a variety of time scales. These rules are imposed both from above by society and below by physics. Many electricity markets are undergoing or are about to undergo a transition from centrally regulated systems to decentralized markets. Furthermore, several electricity markets have recently undergone this transition with extremely unsatisfactory results, most notably in California. These high stakes transitions require the introduction of largely untested regulatory structures. Suitable laboratories that can be used to test regulatory structures before they are applied to real systems are needed. Agent-based models can provide such electronic laboratories or ''e-laboratories.'' To better understand the requirements of an electricity market e-laboratory, a live electricity market simulation was created. This experience helped to shape the development of the Electricity Market Complex Adaptive Systems (EMCAS) model. To explore EMCAS' potential as an e-laboratory, several variations of the live simulation were created. These variations probed the possible effects of changing power plant outages and price setting rules on electricity market prices.

Abstract: With the restructuring of the electric power industry, operation and control strategies have undergone a shift in paradigm. Certain activities that were earlier considered as part of the integrated electricity supply (such as voltage and frequency control) are now treated as separate services and often independently managed and accounted for. This paper examines the management of reactive power services in deregulated electricity markets around the world. From the review several diverse methods for handling reactive power within the deregulated market framework emerges. While in many of the markets, proper financial compensation mechanisms exist to compensate the providers for their service, some others continue to handle reactive power through regulatory frameworks and technical operation guidelines.

Abstract: A system by which an electric power utility can selectively limit power supplied to homeowners or other users to conserve electricity in periods of higher usage/shortages. Each home that is participating in the system has “smart switches” installed at outlet locations, for example, a stove, clothes dryer, television sets, lamp, etc. The power utility sends communications either through cell phone technology, telephone, or other communication link to the home to signal the various smart switches to limit electrical output (either blocking current flow totally, or periodically). The electric utility sends its communication to a monitoring and control computer which in turn controls the various smart switches. Also, information of power usage is transmitted to the smart switches back to the utility company so that bills can be prepared, with savings also specified in the bill.

Abstract: The privatization of the British electricity supply industry (ESI) in the late 1980s and early 1990s was associated with a transformation in electricity generation technology. In a sudden and unexp...

Abstract: In this paper, we present an analysis of the results of a study into wholesale (spot) electricity price forecasting utilising Neural Networks (NNs) and Support Vector Machines (SVM). Frequent regulatory changes in electricity markets and the quickly evolving market participant pricing (bidding) strategies cause efficient retraining to be crucial in maintaining the accuracy of electricity price forecasting models. The efficiency of NN and SVM retraining for price forecasting was evaluated using Australian National Electricity Market (NEM), New South Wales regional data over the period from September 1998 to December 1998. The analysis of the results showed that SVMs with one unique solution, produce more consistent forecasting accuracies and so require less time to optimally train than NNs, which can result in a solution at any of a large number of local minima. The SVM and NN forecasting accuracies were found to be very similar.

Abstract: This paper studies the application of the available financial theory to the deregulated electricity market. The special characteristics of electricity make the market different from all other commodity markets. The paper introduces a coherent framework for the assets and instruments in the electricity markets in the financial tradition. Properties of the instruments that are available in the Scandinavian electricity market are studied in more detail.

Abstract: This thesis studies risk management in the electricity market in general and the interaction between physical production and electricity contracts in particular. From a risk management point of view, a power portfolio differs substantially from a traditional financial portfolio. Electricity is non-storable, which together with the marginal production cost characteristics creates jumps in the spot price. The return of a power portfolio is hence typically heavy-tailed, and a risk measure, such as CVaR, that captures this heavy-taildness is needed. To be able to compare production and contracts on a unified basis, we identify the set of contracts that corresponds to each power plant. These contracts build up a replicating portfolio of the power plant. This engineering of contracts allows us to risk manage these often complex contracts, through production. Further, a producing electricity company can through a simple absence of arbi¬ trage argument assess these contracts by studying the costs associated with the corresponding power plant. Flexible production units, such as a gas turbine, re¬ late to options whereas inflexible units, such as a nuclear plant, relate to futures. The electricity market is heavily incomplete, why perfect hedges are not achievable for a number of contracts. Hence we introduce the concept of best hedge. The best hedge is found through an optimization, where risk, measured as CVaR, is minimized subject to a constraint on the expected profit. It turns out that this problem can be solved with linear programming, allowing us to handle problems of substantial size. When a whole portfolio is considered we try to utilize our risk mandate at the best possible way. This leads us to the well-known problem in finance

Abstract: Many states within the U.S., and many countries across the world, are opening their electicity markets to competition. Many others are uncertain about their plans. These differences emphasize the complexities involved in the technology and regulatory structure of the electricity industry--an industry for which the introduction of market competition has been notoriously difficult. In response to these challenges, Alternating Currents provides a timely overview and analysis of the concerns facing industry regulators, legislators, and others as they consider whether, when, and how to open electricity markets. Authors Brennan, Palmer, and Martinez offer background on the history of regulatory policy and the technology for producing and delivering electric power. They then provide insights into the policy debates and economic issues involved in eleven important topics, including industry structure, system integrity and reliability, the mitigation of market power, and environmental protection. Alternating Currents describes the recent events leading to the demise of retail competition in California with the intent on drawing lessons for the future. In the end, the authors offer their perspective about what makes electricity a unique resource and how those factors make the potential conflict between competition and reliability the most pressing of the long-term concerns about the transformation of the electric power industry.

Abstract: A business management method with interaction between an electrical energy supplier and a plurality of customer energy consumers includes the consumers providing respective electricity load profiles to the energy supplier. The method also includes the energy supplier aggregating the respective projected electricity load profiles. The method further includes the energy supplier making decisions based on the respective projected electricity load profiles on any of the consumers bidding on additional power, offering excess power on energy exchanges, and offering specials discounts to favored consumers. The method is likewise applicable to other commodities such as a water supply, fuel gas supply, or the like.