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A strategic review of electricity systems models

Listed author(s):
  • Foley, A.M.
  • Ó Gallachóir, B.P.
  • Hur, J.
  • Baldick, R.
  • McKeogh, E.J.
Registered author(s):

    Electricity systems models are software tools used to manage electricity demand and the electricity systems, to trade electricity and for generation expansion planning purposes. Various portfolios and scenarios are modelled in order to compare the effects of decision making in policy and on business development plans in electricity systems so as to best advise governments and industry on the least cost economic and environmental approach to electricity supply, while maintaining a secure supply of sufficient quality electricity. The modelling techniques developed to study vertically integrated state monopolies are now applied in liberalised markets where the issues and constraints are more complex. This paper reviews the changing role of electricity systems modelling in a strategic manner, focussing on the modelling response to key developments, the move away from monopoly towards liberalised market regimes and the increasing complexity brought about by policy targets for renewable energy and emissions. The paper provides an overview of electricity systems modelling techniques, discusses a number of key proprietary electricity systems models used in the USA and Europe and provides an information resource to the electricity analyst not currently readily available in the literature on the choice of model to investigate different aspects of the electricity system.

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    Article provided by Elsevier in its journal Energy.

    Volume (Year): 35 (2010)
    Issue (Month): 12 ()
    Pages: 4522-4530

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    Handle: RePEc:eee:energy:v:35:y:2010:i:12:p:4522-4530
    DOI: 10.1016/
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    1. Al-Muhawesh, Tareq A. & Qamber, Isa S., 2008. "The prerequisite for competition in the restructured wholesale Saudi electricity market," Energy Policy, Elsevier, vol. 36(1), pages 477-484, January.
    2. Lucas, Nigel & Taylor, Peter, 1993. "Characterizing generator behaviour: bidding strategies in the pool: A game theory analysis," Utilities Policy, Elsevier, vol. 3(2), pages 129-135, April.
    3. Weidlich, Anke & Veit, Daniel, 2008. "A critical survey of agent-based wholesale electricity market models," Energy Economics, Elsevier, vol. 30(4), pages 1728-1759, July.
    4. Hobbs, Benjamin F., 1995. "Optimization methods for electric utility resource planning," European Journal of Operational Research, Elsevier, vol. 83(1), pages 1-20, May.
    5. Deane, J.P. & Ó Gallachóir, B.P. & McKeogh, E.J., 2010. "Techno-economic review of existing and new pumped hydro energy storage plant," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(4), pages 1293-1302, May.
    6. Carraretto, Cristian & Lazzaretto, Andrea, 2004. "A dynamic approach for the optimal electricity dispatch in the deregulated market," Energy, Elsevier, vol. 29(12), pages 2273-2287.
    7. Dyner, Isaac & Larsen, Erik R., 2001. "From planning to strategy in the electricity industry," Energy Policy, Elsevier, vol. 29(13), pages 1145-1154, November.
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