Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8628003
Theodosios Perifanis, I. Panapakidis, A. Dagoumas
The European Union formed a strategy with the Energy Union towards the delivery of secure, competitive, and sustainable energy. The Energy Union targets at a fully integrated internal energy market, which requires infrastructure, leaving market fundamentals to drive energy pricing. The European Union swifts to natural gas as its primary energy source. So far the natural gas supply has been conducted via inter-state pipelines and priced through oil-indexed contracts. In our research, we study whether there are price spillovers from oil to natural gas, and vice versa. This paper studies the oldest gas virtual trading point in Europe, National Balancing Point. It is considered as one of the most liquid and transparent gas markets. In order to fully cover every aspect, we use Wald tests, cointegration tests, asymmetric price transmission methodology, and Diebold and Mariano tests. We reach conclusions on commodities’ independence and we present their time varying relationship.
{"title":"The relationship between the brent crude oil and the national balancing point natural gas prices","authors":"Theodosios Perifanis, I. Panapakidis, A. Dagoumas","doi":"10.1109/EEM.2018.8628003","DOIUrl":"https://doi.org/10.1109/EEM.2018.8628003","url":null,"abstract":"The European Union formed a strategy with the Energy Union towards the delivery of secure, competitive, and sustainable energy. The Energy Union targets at a fully integrated internal energy market, which requires infrastructure, leaving market fundamentals to drive energy pricing. The European Union swifts to natural gas as its primary energy source. So far the natural gas supply has been conducted via inter-state pipelines and priced through oil-indexed contracts. In our research, we study whether there are price spillovers from oil to natural gas, and vice versa. This paper studies the oldest gas virtual trading point in Europe, National Balancing Point. It is considered as one of the most liquid and transparent gas markets. In order to fully cover every aspect, we use Wald tests, cointegration tests, asymmetric price transmission methodology, and Diebold and Mariano tests. We reach conclusions on commodities’ independence and we present their time varying relationship.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129286867","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 : 2018-06-01DOI: 10.1109/EEM.2018.8469868
Pablo Diaz-Cachinero, J. I. Muñoz-Hernandez, J. Contreras
Due to the growth in the use of renewable energies, the implantation of Energy Storage Systems (ESSs) and the use of Electric Vehicles (EVs), there is a need for optimization models to address these issues in distribution systems. An example of this is the operation of a Microgrid (MG) where the operation cost is optimized. Renewable resources such as wind and solar energy and Distributed Generation (DG) are very important in an MG. In addition, the rise of EVs in distribution systems makes their operation more difficult. This work proposes a linear model to optimize the operation of an MG using a linear AC power flow, renewable resources, DG, Battery Bank (BB) degradation costs and EVs applied to the IEEE 37-bus system. For the creation of EVs scenarios, a software application has been developed using Visual Basic®, MS Excel® and @RISK® to generate them using Monte Carlo simulation.
{"title":"A Linear Model for Operating Microgrids with Renewable Resources, Battery Degradation Costs and Electric Vehicles","authors":"Pablo Diaz-Cachinero, J. I. Muñoz-Hernandez, J. Contreras","doi":"10.1109/EEM.2018.8469868","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469868","url":null,"abstract":"Due to the growth in the use of renewable energies, the implantation of Energy Storage Systems (ESSs) and the use of Electric Vehicles (EVs), there is a need for optimization models to address these issues in distribution systems. An example of this is the operation of a Microgrid (MG) where the operation cost is optimized. Renewable resources such as wind and solar energy and Distributed Generation (DG) are very important in an MG. In addition, the rise of EVs in distribution systems makes their operation more difficult. This work proposes a linear model to optimize the operation of an MG using a linear AC power flow, renewable resources, DG, Battery Bank (BB) degradation costs and EVs applied to the IEEE 37-bus system. For the creation of EVs scenarios, a software application has been developed using Visual Basic®, MS Excel® and @RISK® to generate them using Monte Carlo simulation.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124557846","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 : 2018-06-01DOI: 10.1109/EEM.2018.8469850
F. Rubio, M. Robaina, F. A. Campos, J. Villar
This work combines a detailed model of the electricity sector with a general equilibrium model for Spain, to analyze the effects of new investments and technological evolution in the electricity sector, as well as their impact in global aspects of the economy. A reference scenario with high prices for CO2emissions together with insufficient investments in renewable energy was simulated, showing an expected negative economic impact. This scenario was then combined with five potential policies of economic reactivation. The most positive one was related to the reduction of the cost of access to capital, leading to improvements in capital income and GDP, thus mitigating the impact of the electricity price increase. This policy also leads to a migration of the labour from the production to the service sectors and suggests that a transition towards a cleaner electricity sector with minor economic impacts is possible, when energy policies are combined with adequate fiscal policies.
{"title":"Economic Impact of Investments in the Electricity Sector - A Hybrid General Equilibrium and Technological Analysis","authors":"F. Rubio, M. Robaina, F. A. Campos, J. Villar","doi":"10.1109/EEM.2018.8469850","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469850","url":null,"abstract":"This work combines a detailed model of the electricity sector with a general equilibrium model for Spain, to analyze the effects of new investments and technological evolution in the electricity sector, as well as their impact in global aspects of the economy. A reference scenario with high prices for CO2emissions together with insufficient investments in renewable energy was simulated, showing an expected negative economic impact. This scenario was then combined with five potential policies of economic reactivation. The most positive one was related to the reduction of the cost of access to capital, leading to improvements in capital income and GDP, thus mitigating the impact of the electricity price increase. This policy also leads to a migration of the labour from the production to the service sectors and suggests that a transition towards a cleaner electricity sector with minor economic impacts is possible, when energy policies are combined with adequate fiscal policies.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130048359","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 : 2018-06-01DOI: 10.1109/EEM.2018.8469208
Semen Uimonen, Toni Tukia, M. Lehtonen
Vertical transportation systems are designed to enhance the people flow. T he power c onsumption of escalators and elevators depends on applied technology, control strategies and passenger flow. Vertical transports are often e quipped with energy saving technologies and are eligible for demand response (DR). DR for vertical transports results in induced costs related to increased passenger travel and waiting times. In this article, we analyze the cost of DR by means of speed reduction for elevators and escalators in terms of lost customer hours. We use modeling approaches to simulate passenger time delays and aggregated power consumption of a large number of escalators and elevators. The results further indicate positive applicability of such strategy in vertical transportation.
{"title":"Vertical Transportation Demand Response: Cost of Lost Customer Hours","authors":"Semen Uimonen, Toni Tukia, M. Lehtonen","doi":"10.1109/EEM.2018.8469208","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469208","url":null,"abstract":"Vertical transportation systems are designed to enhance the people flow. T he power c onsumption of escalators and elevators depends on applied technology, control strategies and passenger flow. Vertical transports are often e quipped with energy saving technologies and are eligible for demand response (DR). DR for vertical transports results in induced costs related to increased passenger travel and waiting times. In this article, we analyze the cost of DR by means of speed reduction for elevators and escalators in terms of lost customer hours. We use modeling approaches to simulate passenger time delays and aggregated power consumption of a large number of escalators and elevators. The results further indicate positive applicability of such strategy in vertical transportation.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130184488","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 : 2018-06-01DOI: 10.1109/EEM.2018.8469212
D. Menniti, A. Pinnarelli, N. Sorrentino, P. Vizza, G. Brusco, G. Barone
The development of Renewable non-dispatchable sources has represented a new challenges for the electrical power system, requiring new ways to manage it, assuring users both economic and technical benefits. Microgrid Energy Communities can represent a solution to this problem. The advantages are due mostly to the energy trade inside the virtual community, but other advantages due to the aggregation can be considered. In particular, in this paper how the imbalance reduction can be achieved by a dispatching service implemented inside the aggregation based on imbalances penalties in shown. The results show as self-balance reduces, the charges.
{"title":"How to Provide Dispatching Services in a Smart Community Microgrid to Reduce Imbalance Charges","authors":"D. Menniti, A. Pinnarelli, N. Sorrentino, P. Vizza, G. Brusco, G. Barone","doi":"10.1109/EEM.2018.8469212","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469212","url":null,"abstract":"The development of Renewable non-dispatchable sources has represented a new challenges for the electrical power system, requiring new ways to manage it, assuring users both economic and technical benefits. Microgrid Energy Communities can represent a solution to this problem. The advantages are due mostly to the energy trade inside the virtual community, but other advantages due to the aggregation can be considered. In particular, in this paper how the imbalance reduction can be achieved by a dispatching service implemented inside the aggregation based on imbalances penalties in shown. The results show as self-balance reduces, the charges.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126959056","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 : 2018-06-01DOI: 10.1109/EEM.2018.8469863
K. Dobrzyński, J. Klucznik, Z. Lubośny, M. Jaskólski, P. Bućko
In 2015 a connection between the Polish and Lithuanian power systems become fully operational. The connection consists of a 400 kV double circuit transmission line and a back-to-back HVDC substation located on the Lithuanian side. A magnetic couplings between the circuits of the transmission line cause that during power transmission a different values of active power losses are observed in both circuits. This situation may cause a financial settlement problems for transmitted energy between the operators of the connected systems.
{"title":"Cross-Border Transmission Line Configuration Influence on the Electrical Power and Energy Billing Process","authors":"K. Dobrzyński, J. Klucznik, Z. Lubośny, M. Jaskólski, P. Bućko","doi":"10.1109/EEM.2018.8469863","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469863","url":null,"abstract":"In 2015 a connection between the Polish and Lithuanian power systems become fully operational. The connection consists of a 400 kV double circuit transmission line and a back-to-back HVDC substation located on the Lithuanian side. A magnetic couplings between the circuits of the transmission line cause that during power transmission a different values of active power losses are observed in both circuits. This situation may cause a financial settlement problems for transmitted energy between the operators of the connected systems.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116444274","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 : 2018-06-01DOI: 10.1109/EEM.2018.8469988
M. Hinterstocker, Christa Dufter, Serafin von Roon, A. Bogensperger, Andreas Zeiselmair
Blockchain-based software solutions have been proposed and analyzed for several applications in the field of energy markets. They are often expected to cause “disruptive” changes to the energy industry, implicating they might totally replace current market structures and render today's energy system obsolete. In order to evaluate the actual potential, several specific use cases from different fields are examined here. The potential impact is estimated based on the market value of the respective market segment, which allows assessing the prospective effect. The analyses show that some use cases do have potential to improve current processes and thus, to change the market setting, but these changes are expected to be relatively small. Therefore, blockchain technology is not expected to be disruptive regarding the energy industry, but to complement the structures and processes which are already in place.
{"title":"Potential Impact of Blockchain Solutions on Energy Markets","authors":"M. Hinterstocker, Christa Dufter, Serafin von Roon, A. Bogensperger, Andreas Zeiselmair","doi":"10.1109/EEM.2018.8469988","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469988","url":null,"abstract":"Blockchain-based software solutions have been proposed and analyzed for several applications in the field of energy markets. They are often expected to cause “disruptive” changes to the energy industry, implicating they might totally replace current market structures and render today's energy system obsolete. In order to evaluate the actual potential, several specific use cases from different fields are examined here. The potential impact is estimated based on the market value of the respective market segment, which allows assessing the prospective effect. The analyses show that some use cases do have potential to improve current processes and thus, to change the market setting, but these changes are expected to be relatively small. Therefore, blockchain technology is not expected to be disruptive regarding the energy industry, but to complement the structures and processes which are already in place.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126622825","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 : 2018-06-01DOI: 10.1109/eem.2018.8469207
{"title":"15th International Conference on the European Energy Market (EEM)","authors":"","doi":"10.1109/eem.2018.8469207","DOIUrl":"https://doi.org/10.1109/eem.2018.8469207","url":null,"abstract":"","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125688026","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 : 2018-06-01DOI: 10.1109/EEM.2018.8469880
T. Oderinwale, D. Papadaskalopoulos, Yujian Ye, G. Strbac
The envisaged decarbonization of electricity systems has attracted significant interest around the role and value of demand flexibility. However, the impact of this flexibility on generation investments in the deregulated electricity industry setting remains a largely unexplored area, since previous relevant work neglects the time-coupling nature of demand shifting potentials. This paper addresses this challenge by proposing a strategic generation investment planning model expressing the decision making process of a self-interested generation company and accounting for the time-coupling operational characteristics of demand flexibility. This model is formulated as a multi-period bi-level optimization problem, which is solved after converting it to a Mathematical Program with Equilibrium Constraints (MPEC). Case studies with the proposed model demonstrate that demand flexibility reduces the total generation capacity investment, enhances investments in baseload generation and yields significant economic benefits in terms of total system costs and demand payments.
{"title":"Incorporating Demand Flexibility in Strategic Generation Investment Planning","authors":"T. Oderinwale, D. Papadaskalopoulos, Yujian Ye, G. Strbac","doi":"10.1109/EEM.2018.8469880","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469880","url":null,"abstract":"The envisaged decarbonization of electricity systems has attracted significant interest around the role and value of demand flexibility. However, the impact of this flexibility on generation investments in the deregulated electricity industry setting remains a largely unexplored area, since previous relevant work neglects the time-coupling nature of demand shifting potentials. This paper addresses this challenge by proposing a strategic generation investment planning model expressing the decision making process of a self-interested generation company and accounting for the time-coupling operational characteristics of demand flexibility. This model is formulated as a multi-period bi-level optimization problem, which is solved after converting it to a Mathematical Program with Equilibrium Constraints (MPEC). Case studies with the proposed model demonstrate that demand flexibility reduces the total generation capacity investment, enhances investments in baseload generation and yields significant economic benefits in terms of total system costs and demand payments.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"135 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127849265","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 : 2018-06-01DOI: 10.1109/EEM.2018.8470002
L. Arango, H. Arango, B. Bonatto, É. Deccache, L. B. Maciel, E. O. Pamplona
The paper objective is to insert into the socioeconomic market model (TAROT), the investments in antitheft equipment's and inspections in order to reduce the nontechnical energy losses of an electricity company. Thus, the same with the necessary capital available for this investment can be planned to achieve the maximum operational efficiency. Although the investment is interesting from the point of view of reducing electricity theft, which is the main factor of nontechnical losses, the company usually holds a restricted capital for it. The paper proposes a methodology for determining the regulatory tariff value, when there is a percentage of electricity theft and when there is an amount of investment in commercial quality (Q). Also, there is a proposal to determine the value of optimized investments in technical and commercial quality (B*, Q*), in order to obtain the optimal or minimum regulatory tariff to be charged of the energy consumers.
{"title":"The Impact of Quality Investment in the Electricity Market Based on a Socioeconomic Market Model Contribution","authors":"L. Arango, H. Arango, B. Bonatto, É. Deccache, L. B. Maciel, E. O. Pamplona","doi":"10.1109/EEM.2018.8470002","DOIUrl":"https://doi.org/10.1109/EEM.2018.8470002","url":null,"abstract":"The paper objective is to insert into the socioeconomic market model (TAROT), the investments in antitheft equipment's and inspections in order to reduce the nontechnical energy losses of an electricity company. Thus, the same with the necessary capital available for this investment can be planned to achieve the maximum operational efficiency. Although the investment is interesting from the point of view of reducing electricity theft, which is the main factor of nontechnical losses, the company usually holds a restricted capital for it. The paper proposes a methodology for determining the regulatory tariff value, when there is a percentage of electricity theft and when there is an amount of investment in commercial quality (Q). Also, there is a proposal to determine the value of optimized investments in technical and commercial quality (B*, Q*), in order to obtain the optimal or minimum regulatory tariff to be charged of the energy consumers.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128783067","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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