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oscogen_d5_1a_250602

oscogen_d5_1a_250602

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Published by mspd2003
The liberalisation of the energy markets will increase the amounts of exchange-based trading
of energy. Utilities must be in a position to submit bid functions for selling and buying
energy. Consequently, they have to find prices at which they want to sell certain amounts of
energy.
In this report the trading structures of different EU markets are first described. Then the
requirements and possible realisation of a tool for electricity trading is described. Three
different approaches are presented. The first based on the use of a deterministic optimisation
model while the second approach includes the possibilities to include uncertainty factors by
using stochastic optimisation. The first approach may be a suitable approach for long-term
planning while the second approach is developed for short-term bidding, for example placing
bids at the one day ahead market, where the uncertainty factors can become very important.
The third approach is based on the use of a real option optimisation model. This approach also
take the uncertainty factors into consideration.
The liberalisation of the energy markets will increase the amounts of exchange-based trading
of energy. Utilities must be in a position to submit bid functions for selling and buying
energy. Consequently, they have to find prices at which they want to sell certain amounts of
energy.
In this report the trading structures of different EU markets are first described. Then the
requirements and possible realisation of a tool for electricity trading is described. Three
different approaches are presented. The first based on the use of a deterministic optimisation
model while the second approach includes the possibilities to include uncertainty factors by
using stochastic optimisation. The first approach may be a suitable approach for long-term
planning while the second approach is developed for short-term bidding, for example placing
bids at the one day ahead market, where the uncertainty factors can become very important.
The third approach is based on the use of a real option optimisation model. This approach also
take the uncertainty factors into consideration.

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Categories:Types, Business/Law
Published by: mspd2003 on Aug 01, 2013
Copyright:Attribution Non-commercial

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03/27/2015

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