TY - GEN
T1 - Evaluation of new generation entry in a deregulated electricity market
AU - Wong, K. O.
AU - Saha, T. K.
AU - Dong, Z. Y.
N1 - Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].
PY - 2007
Y1 - 2007
N2 - 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. © 2007 IEEE.
AB - 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. © 2007 IEEE.
KW - Australia's national electricity market
KW - Deregulated market investment
KW - Evaluation of new entry
KW - New generation entry
KW - Value at risk
UR - https://www.scopus.com/pages/publications/42549122009
UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-42549122009&origin=recordpage
U2 - 10.1109/PES.2007.385903
DO - 10.1109/PES.2007.385903
M3 - RGC 32 - Refereed conference paper (with host publication)
SN - 1424412986
SN - 9781424412983
T3 - 2007 IEEE Power Engineering Society General Meeting, PES
BT - 2007 IEEE Power Engineering Society General Meeting, PES
T2 - 2007 IEEE Power Engineering Society General Meeting, PES
Y2 - 24 June 2007 through 28 June 2007
ER -