A penalty scheme for reducing electricity price volatility

• Main Authors: Ding, Yi, Wang, Peng, Goel, Lalit, Chen, Luonan, Loh, Poh Chiang
• Other Authors: School of Electrical and Electronic Engineering
• Format: Article
• Language: English
• Published: 2011
• Subjects: DRNTU::Engineering::Electrical and electronic engineering::Electric power::Production, transmission and distribution
• Online Access: https://hdl.handle.net/10356/94397; http://hdl.handle.net/10220/7185
• Institution: Nanyang Technological University

The deregulation of electric power systems in many parts of the world has changed the mechanism of electricity pricing. Unlike the fixed price in conventional power systems, electricity price varies with time and location in the new deregulated environment. Electricity prices in a restructured power...