Please use this identifier to cite or link to this item: https://doi.org/10.1109/IEEM.2010.5674290
Title: Impact of bilateral contracts on the price volatility in the electricity market
Authors: Wang, G.
Hung, H.-C. 
Keywords: Bilateral contracts
Electricity
Market clearing prices
Variance
Issue Date: 2010
Source: Wang, G.,Hung, H.-C. (2010). Impact of bilateral contracts on the price volatility in the electricity market. IEEM2010 - IEEE International Conference on Industrial Engineering and Engineering Management : 1636-1640. ScholarBank@NUS Repository. https://doi.org/10.1109/IEEM.2010.5674290
Abstract: One of the evident consequences of the deregulation in electricity industry is the volatility of market clearing prices (MCP). In this paper, we use variance to measure this price volatility and propose supply function equilibria and Cournot models to characterize the impact of bilateral contracts on the variance of MCP. As the result, we show that bilateral contracts reduce the variance of MCP. Finally, a numerical study based on Singapore electricity market to support our models is presented. ©2010 IEEE.
Source Title: IEEM2010 - IEEE International Conference on Industrial Engineering and Engineering Management
URI: http://scholarbank.nus.edu.sg/handle/10635/72338
ISBN: 9781424485031
DOI: 10.1109/IEEM.2010.5674290
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