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Transmission Rights (electricity Market)
Electricity transmission congestion is a condition of the electrical grid that prevents the accepted or forecasted load schedules from being implemented due to the grid configuration and equipment performance limitations. In simple terms, congestion occurs when overloaded transmission lines are unable to carry additional electricity flow due to the risk of overheating and the transmission system operator (TSO) has to direct the providers to adjust their dispatch levels to accommodate the constraint or in an electricity market a power plant can produce electricity at a competitive price but cannot transmit the power to a willing buyer. Congestion increases the electricity prices for some customers. Definitions There is no universally accepted definition of the transmission congestion. Congestion is not an event, so it is frequently not possible to pinpoint its place and time (in this respect it is similar to traffic congestion). Regulators define congestion as a condition that prev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electrical Grid
An electrical grid is an interconnected network for electricity delivery from producers to consumers. Electrical grids vary in size and can cover whole countries or continents. It consists of:Kaplan, S. M. (2009). Smart Grid. Electrical Power Transmission: Background and Policy Issues. The Capital.Net, Government Series. Pp. 1-42. * power stations: often located near energy and away from heavily populated areas * electrical substations to step voltage up or down * electric power transmission to carry power long distances * electric power distribution to individual customers, where voltage is stepped down again to the required service voltage(s). Grids are nearly always synchronous, meaning all distribution areas operate with three phase alternating current (AC) frequencies synchronized (so that voltage swings occur at almost the same time). This allows transmission of AC power throughout the area, connecting a large number of electricity generators and consumers and poten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent System Operator
A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission (FERC). The voluntary creation of RTOs was initiated by FERC Order No. 2000, issued on December 20, 1999. The purpose of the RTO is to promote economic efficiency, reliability, and non-discriminatory practices while reducing government oversight. An independent system operator (ISO) is similarly an organization formed at the recommendation of FERC. In the areas where an ISO is established, it coordinates, controls, and monitors the operation of the electrical power system, usually within a single US state, but sometimes encompassing multiple states. RTOs typically perform the same functions as ISOs but co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ENTSO-E
ENTSO-E, the European Network of Transmission System Operators, represents 39 electricity transmission system operators (TSOs) from 35 countries across Europe, thus extending beyond EU borders. ENTSO-E was established and given legal mandates by the EU's Third Package for the Internal energy market in 2009, which aims at further liberalising the gas and electricity markets in the EU. Page not dated. History On 27 June 2008, 36 European electricity transmission system operators (TSOs) signed in Prague a declaration of intent to create the ENTSO-E. ENTSO-E was established on 19 December 2008 in Brussels by 42 TSOs as a successor of six regional associations of the electricity transmission system operators. ENTSO-E became operational on 1 July 2009. The former associations ETSO, ATSOI, UKTSOA, NORDEL, UCTE and BALTSO became a part of the ENTSO-E, while still offering data by their predecessors for public interest. Creation of ENTSO-E was initiated by the adop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tradable Securities
Liquid tradable securities (or LTS) is a generic phrase for a wide range of financial instruments. It often differentiates financial instruments that are easily tradable (or tradeable) as opposed to those that require the permission of the company or a signed document that registers the transfer of securities between two market participants. Another way to look at it is the difference between how a person buys a fund (collective investment scheme) and how they buy a bond or share. Liquid tradable securities come in many forms and with a wide variety of acronyms. These include stocks and bonds as well as exchange-traded funds, exchange traded commodities, exchange-traded notes (including certificates), REITs, as well as most OTC securities. Note that these do not include Swaps or repurchase agreement (repos), which are contractual arrangements and as such are not tradable. This is a wider definition than the definition of transferable securities under MiFID LTS advantage over coll ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Watt
The watt (symbol: W) is the unit of power or radiant flux in the International System of Units (SI), equal to 1 joule per second or 1 kg⋅m2⋅s−3. It is used to quantify the rate of energy transfer. The watt is named after James Watt (1736–1819), an 18th-century Scottish inventor, mechanical engineer, and chemist who improved the Newcomen engine with his own steam engine in 1776. Watt's invention was fundamental for the Industrial Revolution. Overview When an object's velocity is held constant at one metre per second against a constant opposing force of one newton, the rate at which work is done is one watt. : \mathrm In terms of electromagnetism, one watt is the rate at which electrical work is performed when a current of one ampere (A) flows across an electrical potential difference of one volt (V), meaning the watt is equivalent to the volt-ampere (the latter unit, however, is used for a different quantity from the real power of an electrical cir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Dispatch
The merit order is a way of ranking available sources of energy, especially electrical generation, based on ascending order of price (which may reflect the order of their short-run marginal costs of production) and sometimes pollution, together with amount of energy that will be generated. In a centralized management, the ranking is so that those with the lowest marginal costs are the first ones to be brought online to meet demand, and the plants with the highest marginal costs are the last to be brought on line. Dispatching generation in this way, known as economic dispatch, minimizes the cost of production of electricity. Sometimes generating units must be started out of merit order, due to transmission congestion, system reliability or other reasons. In environmental dispatch, additional considerations concerning reduction of pollution further complicate the power dispatch problem. The basic constraints of the economic dispatch problem remain in place but the model is optimize ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Power
In economics, market power refers to the ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. In other words, market power occurs if a firm does not face a perfectly elastic demand curve and can set its price (P) above marginal cost (MC) without losing revenue.Syverson, C. (2019). Macroeconomics and Market Power. The Journal of Economic Perspectives, 33(3), 23-43. https://doi.org/10.1257/jep.33.3.23 This indicates that the magnitude of market power is associated with the gap between P and MC at a firm's profit maximising level of output. Such propensities contradict perfectly competitive markets, where market participants have no market power, P = MC and firms earn zero economic profit. Market participants in perfectly competitive markets are consequently referred to as 'price takers', whereas market participants that exhibit market power are referred to as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tie Line (electrical Grid)
A balancing authority (BA) is an entity in the US electric system (as well as in parts of Canada and Mexico) that is responsible for grid balancing: resource planning and unit commitment ahead of time, maintenance of the load-interchange-generation balance within a balancing authority area (also known as a control area) and support for real-time load-frequency control.Glossary of Terms Used in Reliability Standards , p. 2. February 8, 2005. The balancing authorities are connected by metered high-voltage tie lines and grouped into [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Load Pocket
A load pocket is an area of electric grid (typically small) that has limited ability to import electricity due to either very high concentration of demand or insufficient transmission capabilities ("intra-zonal congestion") and therefore cannot be entirely provided with power without participation of local electricity generation providers. A typical load pocket includes a major city (e.g., New York City, San Francisco, San Diego in the US). Load pocket's existence usually indicates difficulties with building of either new generation or new transmission, or both due to the area constraints or political pressure and despite the pocket being an attractive place for investment (market congestion pricing strongly incentivizes new generation inside the pocket). The load pockets represent a problem for the deregulated electricity markets, as in the absence of regulation the captive customers are forced to accept the prices set by the local providers. Effect on restructured energy markets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
System Redispatch
Power system operations is a term used in electricity generation to describe the process of decision-making on the timescale from one day (day-ahead operation) to minutes prior to the power delivery. The term power system control describes actions taken in response to unplanned ''disturbances'' (e.g., changes in demand or equipment failures) in order to provide reliable electric supply of acceptable quality. The corresponding engineering branch is called Power System Operations and Control. Electricity is hard to store, so at any moment the supply (generation) shall be balanced with demand ("grid balancing"). In an electrical grid the task of real-time balancing is performed by a regional-based control center, run by an electric utility in the traditional (vertically integrated) electricity market. In the restructured North American power transmission grid, these centers belong to '' balancing authorities'' numbered 74 in 2016, the entities responsible for operations are also calle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Load Schedule
Load or LOAD may refer to: Aeronautics and transportation * Load factor (aeronautics), the ratio of the lift of an aircraft to its weight *Passenger load factor, the ratio of revenue passenger miles to available seat miles of a particular transportation operation (e.g. a flight) Biology and medicine *Afterload, the maximum effect of a heartbeat driving blood mass out of the heart into the aorta and pulmonary arteries *Genetic load, of a population *Late-Onset Alzheimer's disease (acronym: LOAD), a chronic neurodegenerative disease * Parasite load, of an organism *Viral load, of organisms and populations Computing and electricity *Load (computing), a measure of how much processing a computer performs *Electrical load, a device connected to the output of a circuit *Electronic load, a simulated electrical load used for testing purposes *Invade-a-Load, was a fast loader routine used in software for the Commodore 64 computer; it was used in commercial computer games *Load balancing ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Locational Marginal Pricing
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology. A restructuring of electric power industry at the turn of the 21st century involved replacing the vertically integrated electric utility, vertically integrated and tightly regulated #Traditional market, "traditional" electricity market with multiple competitive markets for electricity electricity generation, generation, electricity transmission, transmission, electricity distribution, distribution, and electricity retailing, retailing. The traditional and competitive market approaches loosely correspond to two visions of industry: the deregulation was transforming electricity from a public service (like sewerage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
