power market design

United States V. Keyspan Corporation Antitrust Case Settles for Paltry $12 Million

3 Comments / Electricity, Energy markets, Regulation / By

Michael Giberson The Justice Department of the United States has agreed to a $12 million settlement with KeySpan Corporation on a Sherman antitrust act claim. The allegation was that KeySpan manipulated the New York ISO capacity market price in its part of the state from May 2006 through February 2008, reaping an estimated $49 million …

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BPA Won’t Pay Negative Prices to Get Wind Power Producers to Curtail

3 Comments / Electricity, Energy markets, Environmental policy / By

Michael Giberson At a December 2010 meeting, the federal Bonneville Power Agency announced that it would not pay wind power producers in its area to curtail during overgeneration events that sometimes result from the way the agency manages water flow through hydropower facilities to comply with environmental regulations. When reservoirs are full, the BPA’s dams …

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Designing Electricity Auctions

Electricity, Energy markets / By

From the inbox, notice of the new Utilities Policy, this a special issue on designing electricity auctions edited by Thomas P. Tangerås, drawn from a workshop in Stockholm, September 2009 hosted by the Research Institute of Industrial Economics.  Tangerås introduces the topic: What are the boundaries of the market in a system with strong requirements on centralized management of power …

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The Ercot Market in Texas Readies for Change in Market Design

Electricity, Energy markets / By

Michael Giberson The ERCOT grid is about to switch fundamental market designs from its current zonal market to a nodal market. Here is a clip from an ERCOT document describing the change:     For a more readable version, check out the full brochure, which is evailable from ERCOT’s website. ERCOT’s “Texas Nodal Market Implementation” …

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Will Faking a Consumer Cartel Help Make Power Markets More Efficient?

2 Comments / Electricity, Energy markets, Politics / By

Michael Giberson Does the Federal Energy Regulatory Commission (FERC) really want to go down this path? Do they really think that faking a consumer cartel will help make wholesale power markets work more efficiently? Consumers come to any market in pretty direct competition with each other. Suppliers are offering their goods and I would like …

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Auctioning Power Transmission Capacity Contracts of Varying Duration

2 Comments / Electricity, Energy markets, Uncategorized / By

Michael Giberson Suppose you are a merchant transmission line operator with a DC power line linking point A to point B.  Some potential customers prefer to buy transmission capability the day before the power flow, while others would like to buy monthly, annual, or even multi-year contracts.  While some customers want 24-hour delivery, others seek …

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More on Efficient Trade Between Power Markets

Electricity, Energy markets / By

Michael Giberson A paper by Giorgia Oggioni and Yves Smeers, “Degree of coordination in market-coupling and counter-trading,” examines the value of improving coordination between separate-but-interconnected power markets. (A post here last week cited a recent Windpower Monthly article that provides a good non-technical discussion of the issue. If you are not familiar with market coupling, …

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The Right Market Design for Trade Between Power Markets

1 Comment / Economics, Electricity, Energy markets / By

Michael Giberson Windpower Monthly has a great article describing changes in the market for transmission capacity between power systems in Europe and the benefits of the changes.  Here is a summary by way of selected quotes, but the full story is worth reading: Most of the electricity cables connecting Europe were built when electricity systems …

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Integrating Variable Energy Resources to the Electric Power Grid (cont.)

9 Comments / Electricity, Energy markets / By

Michael Giberson In January we noted the Federal Energy Regulatory Commission’s questions concerning the integration of “variable energy resources” to the electric power grid.  FERC asked for comments; over 120 comments have been submitted in reply (so far).  Peter Behr, of ClimateWire, characterizes some of the positions submitted in the FERC inquiry in an article available …

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