Overview of Wholesale Electricity Markets

Michael Milligan; Jaquelin Cochran; Aaron Townsend; Erik Ela; Audun Botterud; Todd Levin; Aaron Bloom

doi:10.1007/978-3-319-74263-2_1

Overview of Wholesale Electricity Markets

Michael Milligan, Jaquelin Cochran, Aaron Townsend, Erik Ela, Audun Botterud, Todd Levin, Aaron Bloom

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

13 Scopus Citations

Abstract

This chapter provides a comprehensive review of four key electricity markets: Energy markets (day-ahead and real-time markets).Ancillary service markets.Financial transmission rights markets.Capacity markets. It also discusses how the outcomes of each of these markets may be impacted by the introduction of high penetrations of variable generation. Furthermore, the chapter examines considerations needed to ensure that wholesale market designs are inclusive of emerging technologies, such as demand response, distributed generation, and distributed storage.

Original language	American English
Title of host publication	Electricity Markets with Increasing Levels of Renewable Generation: Structure, Operation, Agent-Based Simulation, and Emerging Designs
Subtitle of host publication	Studies in Systems, Decision and Control, Volume 144
Editors	F. Lopes, H. Coelho
Publisher	Springer International Publishing
Pages	3-21
Number of pages	19
DOIs	https://doi.org/10.1007/978-3-319-74263-2_1 https://doi.org/10.1007/978-3-319-74263-2_1
State	Published - 2018

Publication series

Name	Studies in Systems, Decision and Control
Volume	144
ISSN (Print)	2198-4182
ISSN (Electronic)	2198-4190

Bibliographical note

Publisher Copyright:
© Springer International Publishing AG, part of Springer Nature 2018.

NREL Publication Number

NREL/CH-5D00-71089

Keywords

electricity markets
emerging technologies
variable generation

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Milligan, M., Cochran, J., Townsend, A., Ela, E., Botterud, A., Levin, T., & Bloom, A. (2018). Overview of Wholesale Electricity Markets. In F. Lopes, & H. Coelho (Eds.), Electricity Markets with Increasing Levels of Renewable Generation: Structure, Operation, Agent-Based Simulation, and Emerging Designs: Studies in Systems, Decision and Control, Volume 144 (pp. 3-21). (Studies in Systems, Decision and Control; Vol. 144). Springer International Publishing. https://doi.org/10.1007/978-3-319-74263-2_1, https://doi.org/10.1007/978-3-319-74263-2_1

Milligan, Michael ; Cochran, Jaquelin ; Townsend, Aaron et al. / Overview of Wholesale Electricity Markets. Electricity Markets with Increasing Levels of Renewable Generation: Structure, Operation, Agent-Based Simulation, and Emerging Designs: Studies in Systems, Decision and Control, Volume 144. editor / F. Lopes ; H. Coelho. Springer International Publishing, 2018. pp. 3-21 (Studies in Systems, Decision and Control).

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Milligan, M, Cochran, J, Townsend, A, Ela, E, Botterud, A, Levin, T & Bloom, A 2018, Overview of Wholesale Electricity Markets. in F Lopes & H Coelho (eds), Electricity Markets with Increasing Levels of Renewable Generation: Structure, Operation, Agent-Based Simulation, and Emerging Designs: Studies in Systems, Decision and Control, Volume 144. Studies in Systems, Decision and Control, vol. 144, Springer International Publishing, pp. 3-21. https://doi.org/10.1007/978-3-319-74263-2_1, https://doi.org/10.1007/978-3-319-74263-2_1

Overview of Wholesale Electricity Markets. / Milligan, Michael; Cochran, Jaquelin; Townsend, Aaron et al.
Electricity Markets with Increasing Levels of Renewable Generation: Structure, Operation, Agent-Based Simulation, and Emerging Designs: Studies in Systems, Decision and Control, Volume 144. ed. / F. Lopes; H. Coelho. Springer International Publishing, 2018. p. 3-21 (Studies in Systems, Decision and Control; Vol. 144).

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

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Milligan M, Cochran J, Townsend A, Ela E, Botterud A, Levin T et al. Overview of Wholesale Electricity Markets. In Lopes F, Coelho H, editors, Electricity Markets with Increasing Levels of Renewable Generation: Structure, Operation, Agent-Based Simulation, and Emerging Designs: Studies in Systems, Decision and Control, Volume 144. Springer International Publishing. 2018. p. 3-21. (Studies in Systems, Decision and Control). doi: 10.1007/978-3-319-74263-2_1, 10.1007/978-3-319-74263-2_1

Overview of Wholesale Electricity Markets

Abstract

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