Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2018.10.043 |
Market price behavior of wholesale electricity products: Texas | |
Zarnikau, J.1,2; Woo, C. K.3; Zhu, S.2; Tsai, C. H.4 | |
2019-02-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 125页码:418-428 |
文章类型 | Article |
语种 | 英语 |
国家 | USA; Peoples R China |
英文摘要 | Applying a regression-based approach to a newly developed sample of over 60,000 hourly observations for 01/01/2011-12/30/2017, we answer the question: what moves the day-ahead market (DAM) prices for energy and ancillary services (AS) and the real-time market (RTM) price for energy in the Electric Reliability Council of Texas (ERCOT)? Our answer comprises the following findings that capture the interdependence of ERCOT's energy and AS products: (1) the DAM energy price increases with the day-ahead forecasts of natural gas price, system load and AS requirements but declines with nuclear and wind generation's forecasts; (2) the AS prices increase with the DAM energy price and the AS procurement forecasts but decline with the AS offer forecasts; and (3) the RTM energy price increases with the DAM energy price but diverges from the DAM energy price due to forecasting errors related to the DAM energy prices fundamental drivers. These findings imply that Texas can reduce the prices for day-ahead energy, day-ahead AS and real-time energy via wind generation development and demand-side-management. Further, Texas can improve its electricity trading efficiency by improving ERCOT's forecast accuracy to narrow the RTM energy prices divergence from the DAM energy price. |
英文关键词 | Electricity products Day-ahead market Real-time market Ancillary services ERCOT |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000456758600040 |
WOS关键词 | GAS-FIRED GENERATION ; THERMAL POWER-PLANTS ; TOLLING AGREEMENT ; WIND GENERATION ; IMPACT ; SPOT ; ENERGY ; DERIVATIVES ; DYNAMICS ; MODEL |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/18031 |
专题 | 气候变化 |
作者单位 | 1.Univ Texas Austin, Dept Econ, 2225 Speedway, Austin, TX 78712 USA; 2.Frontier Energy, 1515 S Capital Texas Highway,Suite 110, Austin, TX 78746 USA; 3.Educ Univ Hong Kong, Dept Asian & Policy Studies, Tai Po, 10 Lo Ping Rd, Hong Kong, Peoples R China; 4.MISO, 2985 Ames Crossing Rd, Eagan, MN 55121 USA |
推荐引用方式 GB/T 7714 | Zarnikau, J.,Woo, C. K.,Zhu, S.,et al. Market price behavior of wholesale electricity products: Texas[J]. ENERGY POLICY,2019,125:418-428. |
APA | Zarnikau, J.,Woo, C. K.,Zhu, S.,&Tsai, C. H..(2019).Market price behavior of wholesale electricity products: Texas.ENERGY POLICY,125,418-428. |
MLA | Zarnikau, J.,et al."Market price behavior of wholesale electricity products: Texas".ENERGY POLICY 125(2019):418-428. |
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