Pub Date : 2010-08-26DOI: 10.1109/EEM.2010.5558740
A. Alonso, Marta Mingo
New and advanced exploration, well drilling and completion technologies, like hydraulic fracturing and horizontal drilling, are allowing increasingly better access to non - conventional gas resources at competitive prices, and may have a big impact in global gas markets. This paper presents a review of the state of art and recent developments of unconventional gas production (tight gas, shale gas and coal bed methane): technology, pioneers projects and bigger unconventional fields (like Barnett Shale), actual production, costs trends and potential reserves. At present, most unconventional gas production is located in the U.S. and Canada, while these resources remain underexploited outside North America. The rapid development of unconventional gas resources, particularly in the last three years, has transformed the gas market in North America. In total, unconventional gas resources could add a 60–250% to world gas reserves. The extent to which the boom in U.S. unconventional gas production can spread to other countries remains highly uncertain.
{"title":"The expansion of “non conventional” production of natural gas (tight gas, gas shale and coal bed methane). A silent revolution","authors":"A. Alonso, Marta Mingo","doi":"10.1109/EEM.2010.5558740","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558740","url":null,"abstract":"New and advanced exploration, well drilling and completion technologies, like hydraulic fracturing and horizontal drilling, are allowing increasingly better access to non - conventional gas resources at competitive prices, and may have a big impact in global gas markets. This paper presents a review of the state of art and recent developments of unconventional gas production (tight gas, shale gas and coal bed methane): technology, pioneers projects and bigger unconventional fields (like Barnett Shale), actual production, costs trends and potential reserves. At present, most unconventional gas production is located in the U.S. and Canada, while these resources remain underexploited outside North America. The rapid development of unconventional gas resources, particularly in the last three years, has transformed the gas market in North America. In total, unconventional gas resources could add a 60–250% to world gas reserves. The extent to which the boom in U.S. unconventional gas production can spread to other countries remains highly uncertain.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122417051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558676
J. Argueso
The process of moving from national electricity and gas markets to a single internal European energy market, through the interim step of regional markets is presented. For this purpose, this document includes, in turn, an overview on European energy markets so far, including the First and Second Legislative Packages on Energy; an analysis of the Regional Initiatives as a vehicle to facilitate progress towards integration, collecting and assessing progress made as of today; the Third Legislative Package on Energy and its main implications for the process of integration; and the way forward towards the creation of a single European energy market.
{"title":"From regional markets to a single European market","authors":"J. Argueso","doi":"10.1109/EEM.2010.5558676","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558676","url":null,"abstract":"The process of moving from national electricity and gas markets to a single internal European energy market, through the interim step of regional markets is presented. For this purpose, this document includes, in turn, an overview on European energy markets so far, including the First and Second Legislative Packages on Energy; an analysis of the Regional Initiatives as a vehicle to facilitate progress towards integration, collecting and assessing progress made as of today; the Third Legislative Package on Energy and its main implications for the process of integration; and the way forward towards the creation of a single European energy market.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126141828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558680
J. Frunt, Wil L. Kling, R. M. Hermans, F. Nobel, Wouter W. de Boer
In electrical power systems there must always exist a balance between generation and load. Any imbalance will result in a frequency deviation and a deviation from the scheduled cross border exchange. To maintain and restore the balance in a certain area balancing systems exist. Balancing systems based on balance responsibility are affected by several design variables. This article discusses the effect of the programme time unit length and the gate-closure time.
{"title":"Impact of design variables on balancing markets","authors":"J. Frunt, Wil L. Kling, R. M. Hermans, F. Nobel, Wouter W. de Boer","doi":"10.1109/EEM.2010.5558680","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558680","url":null,"abstract":"In electrical power systems there must always exist a balance between generation and load. Any imbalance will result in a frequency deviation and a deviation from the scheduled cross border exchange. To maintain and restore the balance in a certain area balancing systems exist. Balancing systems based on balance responsibility are affected by several design variables. This article discusses the effect of the programme time unit length and the gate-closure time.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125315967","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558764
F. Kienzle, G. Andersson
In this paper a valuation method for energy hubs containing storage devices is presented. An energy hub is an integrated system of units, e.g. a combined heat and power (CHP) plant and a battery, which allows the conversion and storage of multiple energy carriers. To determine the economic value of an energy hub, its operation is modeled as a series of call options. Taking into account the hub's flexibility to change its output power(s), this series of call options is valued with a Monte Carlo simulation method that calculates an optimal dispatch of the hub for a large amount of possible price paths of the input and output energy carriers. Using the nodal prices from an optimal power flow analysis (OPF) of a system of interconnected energy hubs, each hub can be valued depending on its location. By means of the proposed energy hub real options model, integrated systems of conversion and storage devices can be valued considering both their position in the network and their ability to flexibly adapt their operation to volatile market prices.
{"title":"Location-dependent valuation of energy hubs with storage in multi-carrier energy systems","authors":"F. Kienzle, G. Andersson","doi":"10.1109/EEM.2010.5558764","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558764","url":null,"abstract":"In this paper a valuation method for energy hubs containing storage devices is presented. An energy hub is an integrated system of units, e.g. a combined heat and power (CHP) plant and a battery, which allows the conversion and storage of multiple energy carriers. To determine the economic value of an energy hub, its operation is modeled as a series of call options. Taking into account the hub's flexibility to change its output power(s), this series of call options is valued with a Monte Carlo simulation method that calculates an optimal dispatch of the hub for a large amount of possible price paths of the input and output energy carriers. Using the nodal prices from an optimal power flow analysis (OPF) of a system of interconnected energy hubs, each hub can be valued depending on its location. By means of the proposed energy hub real options model, integrated systems of conversion and storage devices can be valued considering both their position in the network and their ability to flexibly adapt their operation to volatile market prices.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126771834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558730
A. Tirez, P. Luickx, X. He, V. Rious
This paper presents a Belgian example applying the grid-connected cars as a means for storing electricity, which could eventually result in lowering the spot price and its volatility on the electricity market. The energy is assumed to be bought on the Belgian power exchange, and the Belpex Market Resilience analysis is used to determine to what extent additional electricity demand or supply affects the spot market price. Two different arbitrage strategies for the electric cars are adopted in this context, namely that of a central planner, aiming for societal welfare maximization through reduction of average electricity prices. And that of profit-maximizing car-owners.
{"title":"Possible impact of electric cars on electricity spot prices","authors":"A. Tirez, P. Luickx, X. He, V. Rious","doi":"10.1109/EEM.2010.5558730","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558730","url":null,"abstract":"This paper presents a Belgian example applying the grid-connected cars as a means for storing electricity, which could eventually result in lowering the spot price and its volatility on the electricity market. The energy is assumed to be bought on the Belgian power exchange, and the Belpex Market Resilience analysis is used to determine to what extent additional electricity demand or supply affects the spot market price. Two different arbitrage strategies for the electric cars are adopted in this context, namely that of a central planner, aiming for societal welfare maximization through reduction of average electricity prices. And that of profit-maximizing car-owners.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117009382","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558707
A. Berizzi, C. Bovo, Giovanni Tiburzio
In the framework of the European deregulation, the Italian electricity market was completely opened for competition in 2004. This market is characterized by a highly concentrated ownership together with an inelastic demand and limited transmission capacity in some interfaces, which make it sensitive to market power. To promote the competition, on April 29th, 2009, the Italian Government has approved new rules about the publications of the bids submitted by the players. In particular, the Italian Power Exchange has to publish the bids seven days later. This paper presents an analysis of the bids presented by the market players (with particular reference to the generating companies) for 2008 and the first part of 2009.
{"title":"Bid analysis of the Italian electricity market for the identification of players' strategic behavior","authors":"A. Berizzi, C. Bovo, Giovanni Tiburzio","doi":"10.1109/EEM.2010.5558707","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558707","url":null,"abstract":"In the framework of the European deregulation, the Italian electricity market was completely opened for competition in 2004. This market is characterized by a highly concentrated ownership together with an inelastic demand and limited transmission capacity in some interfaces, which make it sensitive to market power. To promote the competition, on April 29th, 2009, the Italian Government has approved new rules about the publications of the bids submitted by the players. In particular, the Italian Power Exchange has to publish the bids seven days later. This paper presents an analysis of the bids presented by the market players (with particular reference to the generating companies) for 2008 and the first part of 2009.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129749689","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558673
B. Dupont, L. Meeus, R. Belmans
Awareness among policy makers that electricity grids need to become smarter is growing. To allow policy makers to design policies for improving the smartness of grids, discussion is needed on what makes an electricity grid smart and how that this smartness can be measured. This paper provides a methodology to measure the smartness of the electricity grid. The defined framework consists of six characteristics which a smart grid should meet. Progress in the development of each characteristic is assessed by several key performance indicators. This allows to track the status of smart grid development.
{"title":"Measuring the “smartness” of the electricity grid","authors":"B. Dupont, L. Meeus, R. Belmans","doi":"10.1109/EEM.2010.5558673","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558673","url":null,"abstract":"Awareness among policy makers that electricity grids need to become smarter is growing. To allow policy makers to design policies for improving the smartness of grids, discussion is needed on what makes an electricity grid smart and how that this smartness can be measured. This paper provides a methodology to measure the smartness of the electricity grid. The defined framework consists of six characteristics which a smart grid should meet. Progress in the development of each characteristic is assessed by several key performance indicators. This allows to track the status of smart grid development.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128776316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558693
D. López, J. Juan, J. Carpio
In order to make short-term predictions of electricity prices, linear dynamic models in their state-space formulation have been studied. A computer implementation of the EM (Expectation - Maximization) algorithm has been made for maximum likelihood estimation for a Multivariate EWMA model, (exponentially smoothing). In this approach the problem includes a large number of parameters to be estimated as we have implemented the possibility of eliminating superfluous parameters. Finally, we present the results of the hourly spot price forecasts in Powernext, Nord Pool and OMEL markets.
{"title":"EM estimation of multivariate dynamic models for predicting electricity prices","authors":"D. López, J. Juan, J. Carpio","doi":"10.1109/EEM.2010.5558693","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558693","url":null,"abstract":"In order to make short-term predictions of electricity prices, linear dynamic models in their state-space formulation have been studied. A computer implementation of the EM (Expectation - Maximization) algorithm has been made for maximum likelihood estimation for a Multivariate EWMA model, (exponentially smoothing). In this approach the problem includes a large number of parameters to be estimated as we have implemented the possibility of eliminating superfluous parameters. Finally, we present the results of the hourly spot price forecasts in Powernext, Nord Pool and OMEL markets.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129484204","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558773
J. Tchórzewski
The paper concerns the identification of the development of the Polish electric power market (REE). First, the electric power market was characterized, and then the problem of the development of the electrical power market from the point of view of the system was formulated. Numerical data for the period of 1946–2007 were used in the experiments. Identification was carried out at the level of five integrated subsystems: power and electrical power production system, transmission system operator, power and electrical power distribution operator, system of turnover companies, electrical energy exchange system. A number of development models were obtained with the assumed model being MISO and the method of parametric identification - arx. The identification was conducted in the MATLAB and Simulink environments. Selected results of identification were presented in the paper in the form of arx model (th matrices) and in the form of state variables model (matrices A, B, C, D). The paper also presents selected characteristics of development for individual subsystems as well as Evans' root lines graphs. Detailed results of the research were presented and published in the conference materials in XPlore1. The research is in continued.
{"title":"Polish electric power market from the point of view of development","authors":"J. Tchórzewski","doi":"10.1109/EEM.2010.5558773","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558773","url":null,"abstract":"The paper concerns the identification of the development of the Polish electric power market (REE). First, the electric power market was characterized, and then the problem of the development of the electrical power market from the point of view of the system was formulated. Numerical data for the period of 1946–2007 were used in the experiments. Identification was carried out at the level of five integrated subsystems: power and electrical power production system, transmission system operator, power and electrical power distribution operator, system of turnover companies, electrical energy exchange system. A number of development models were obtained with the assumed model being MISO and the method of parametric identification - arx. The identification was conducted in the MATLAB and Simulink environments. Selected results of identification were presented in the paper in the form of arx model (th matrices) and in the form of state variables model (matrices A, B, C, D). The paper also presents selected characteristics of development for individual subsystems as well as Evans' root lines graphs. Detailed results of the research were presented and published in the conference materials in XPlore1. The research is in continued.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124028914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-06-23DOI: 10.1109/EEM.2010.5558777
Andreas Ulbig, G. Andersson
A time-varying, hourly-based electricity tariff scheme for end-consumers is proposed that reflects truthfully marginal costs of electricity provision, based on spot market prices, and electricity transmission, based on actual T&D grid load levels. This tariff scheme is proposed as a benchmark for studying demand response (DR) of end-consumer. The tariff concept is applied to the situation in the city of Zurich, Switzerland, using time-series of the Swiss EEX power market spot prices and Zurich's yearly electricity load profile. A price spread analysis and a benchmark for measuring the economic incentive of variable electricity tariffs on the end-consumer side are presented.
{"title":"Towards variable end-consumer electricity tariffs reflecting marginal costs: A benchmark tariff","authors":"Andreas Ulbig, G. Andersson","doi":"10.1109/EEM.2010.5558777","DOIUrl":"https://doi.org/10.1109/EEM.2010.5558777","url":null,"abstract":"A time-varying, hourly-based electricity tariff scheme for end-consumers is proposed that reflects truthfully marginal costs of electricity provision, based on spot market prices, and electricity transmission, based on actual T&D grid load levels. This tariff scheme is proposed as a benchmark for studying demand response (DR) of end-consumer. The tariff concept is applied to the situation in the city of Zurich, Switzerland, using time-series of the Swiss EEX power market spot prices and Zurich's yearly electricity load profile. A price spread analysis and a benchmark for measuring the economic incentive of variable electricity tariffs on the end-consumer side are presented.","PeriodicalId":310310,"journal":{"name":"2010 7th International Conference on the European Energy Market","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124081425","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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