MODELS OF EFFICIENT CONSUMER PRICING SCHEMES IN ELECTRICITY MARKETS

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dc.contributor.authorCelebi, Emreen
dc.date.accessioned2006-08-22T14:02:56Z
dc.date.available2006-08-22T14:02:56Z
dc.date.issued2005en
dc.date.submitted2005en
dc.description.abstractSuppliers in competitive electricity markets regularly respond to prices that change hour by hour or even more frequently, but most consumers respond to price changes on a very different time scale, i. e. they observe and respond to changes in price as reflected on their monthly bills. This thesis examines mixed complementarity programming models of equilibrium that can bridge the speed of response gap between suppliers and consumers, yet adhere to the principle of marginal cost pricing of electricity. It develops a computable equilibrium model to estimate the time-of-use (TOU) prices that can be used in retail electricity markets. An optimization model for the supply side of the electricity market, combined with a price-responsive geometric distributed lagged demand function, computes the TOU prices that satisfy the equilibrium conditions. Monthly load duration curves are approximated and discretized in the context of the supplier's optimization model. The models are formulated and solved by the mixed complementarity problem approach. It is intended that the models will be useful (a) in the regular exercise of setting consumer prices (i. e. , TOU prices that reflect the marginal cost of electricity) by a regulatory body (e. g. , Ontario Energy Board) for jurisdictions (e. g. , Ontario) where consumers' prices are regulated, but suppliers offer into a competitive market, (b) for forecasting in markets without price regulation, but where consumers pay a weighted average of wholesale price, (c) in evaluation of the policies regarding time-of-use pricing compared to the single pricing, and (d) in assessment of the welfare changes due to the implementation of TOU prices.en
dc.formatapplication/pdfen
dc.format.extent442494 bytes
dc.format.mimetypeapplication/pdf
dc.identifier.urihttp://hdl.handle.net/10012/811
dc.language.isoenen
dc.pendingfalseen
dc.publisherUniversity of Waterlooen
dc.rightsCopyright: 2005, Celebi, Emre. All rights reserved.en
dc.subjectEconomicsen
dc.subjectManagementen
dc.subjectpeak loaden
dc.subjectelectricity pricingen
dc.subjecttime-of-use pricingen
dc.subjectTOUen
dc.subjectfixed pricingen
dc.subjectmarginal costen
dc.subjectdemand responseen
dc.subjectequilibriumen
dc.subjectwelfare analysisen
dc.subjectmixed complementarity problemen
dc.subjectoptimizationen
dc.subjectmathematical modelingen
dc.titleMODELS OF EFFICIENT CONSUMER PRICING SCHEMES IN ELECTRICITY MARKETSen
dc.typeMaster Thesisen
uws-etd.degreeMaster of Applied Scienceen
uws-etd.degree.departmentManagement Sciencesen
uws.peerReviewStatusUnrevieweden
uws.scholarLevelGraduateen
uws.typeOfResourceTexten

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