Review of Information Disclosure in Different Electricity Markets

Electricity markets have been established in many countries of the world. Electricity and services are traded in the competitive environment of electricity markets, which generates a large amount of information during the operation process. To maintain transparency and foster competition of electric...

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Bibliographic Details
Published in:Energies (Basel) 2018-12, Vol.11 (12), p.3424
Main Authors: Yang, Yang, Bao, Minglei, Ding, Yi, Song, Yonghua, Lin, Zhenzhi, Shao, Changzheng
Format: Article
Language:English
Subjects:
Ancillary services
Balancing
bilateral contract model
Clean technology
Computer engineering
Costs
Design
Distributed generation
Efficiency
Electricity
Electricity distribution
electricity market
Energy industry
Energy management
Energy resources
Energy sources
hybrid model
information disclosure
Information systems
Market prices
poolco model
Power flow
Transparency
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Summary:Electricity markets have been established in many countries of the world. Electricity and services are traded in the competitive environment of electricity markets, which generates a large amount of information during the operation process. To maintain transparency and foster competition of electricity markets, timely and precise information regarding the operation of electricity market should be disclosed to the market participants through a centralized and authorized information disclosure mechanism. However, the information disclosure mechanism varies greatly in electricity markets because of different market models and transaction methods. This paper reviews information disclosure mechanisms of several typical electricity markets with the poolco model, bilateral contract model, and hybrid model. The disclosed information and clearing models in these markets are summarized to provide an overview of the present information disclosure mechanisms in typical deregulated power systems worldwide. Moreover, the various experiences for establishing an efficient information disclosure mechanism is summarized and discussed.
ISSN:1996-1073
1996-1073
DOI:10.3390/en11123424