Most of the British electricity supply industry has been privatized. Two dominant generators bulk to an unregulated "pool." They submit a schedule prices for generation and receive market-clearing price, which varies with demand. Despite claims that this should be highly competitive, we show Nash equilibrium in schedules implies high markup on marginal cost substantial deadweight losses. Further simulations, effect entry by 1994, produce somewhat lower prices, at excessive entry; subdividing...

Abstract In the literature, a variety of approaches have been used to calculate demand elasticities in almost ideal system (AIDS) models demand. It is common estimate linear approximate (LA/AIDS) instead AIDS. When LA/AIDS estimated, all previously reported compute are theoretically incorrect. This paper presents correct formulas for and illustrates potential errors from using incorrect computing formulas.

Ageing is a fact of life. Just as with conventional forms power generation, the energy produced by wind farm gradually decreases over its lifetime, perhaps due to falling availability, aerodynamic performance or conversion efficiency. Understanding these factors however complicated highly variable availability wind. This paper reveals rate ageing national fleet turbines using free public data for actual and theoretical ideal load from UK's 282 farms. Actual are recorded monthly period...

In England and Wales, wholesale electricity is sold in a spot market partly covered by long-term contracts which hedge the price. Two dominant conventional generators can raise prices well above marginal costs, this profitable absence of contracts. If fully hedged, however, lose their incentive to costs. Competition contract could lead sell for much output. Since privatisation have indeed most sales market.

This paper models the effect of three policies that could increase amount competition in electricity spot market England and Wales. It uses a linear supply function model with asymmetric firms. The finds regulator's chosen policy, partial divestiture, should lead to substantial reduction deadweight losses. Splitting up dominant firms would have more but is unlikely be politically feasible, while encouraging competitive entry 'in advance need' tend reduce welfare. Copyright 1996 by Blackwell...

Breusch, T. S., and A. R. Pagan, The Lagrange Multiplier Test Its Applications to Model Specification in Econometrics, Review of Economic Studies 47 (Jan. 1980), 239-254. Eden, Benjamin, Insurance-Buying Gambler, Inquiry 18 (July 504-508. Henderson, Charles F., Estimation Variance Covariance Components, Biometrics 9 (June 1953), 226-252. Hill, Daniel H., Deborah Ott, Lester D. Taylor, James M. Walker, Incentive Payments Time-of-Day Electricity Pricing Experiments: Arizona Experiment, this...

Abstract The Armington trade model distinguishes commodities by country of origin, and import demand is determined in a separable two‐step procedure. This framework has been applied to numerous international agricultural markets with the objective modeling demand. In addition, computable general equilibrium (CGE) models commonly employ formulation linkage equations. purpose this paper test assumptions homotheticity separability data from cotton wheat markets. Both parametric nonparametric...

We use a k-means clustering algorithm to partition national electricity demand data for Great Britain and apply novel profiling method obtain set of representative profiles each year over the period 1994-2005. then simulated dispatch model assess accuracy these daily against complete dataset on year-to-year basis. find that partitioning does not compromise simulations most main variables considered, even when simulating significant intermittent wind generation. This technique yields 50-fold...

Background and objective Transtracheal or transcricothyroid placement of a cannula is practice used in number aspects airway management anaesthesia intensive care. In this study, we aimed to investigate whether the use ultrasound will facilitate time-critical situation patients with difficult anterior neck anatomy. Method Fifty anaesthetists were randomised either ultrasound-guided conventional unguided attempts, at insertion into model simulating patient unidentifiable Endpoints success,...

Domestic electricity consumers with PV panels have become known as "prosumers"; some of them also energy storage and we named the combination "prosumage".The challenges renewable intermittency could be offset by storing power, many engineering studies consider role value which is properly integrated into 'smart grid'.Such a system holistic optimal control may fail to materialise for regulatory, economic, or behavioural reasons.We therefore model impact naı ¨ve prosumage: households use only...

There are many options for generating electricity with low carbon emissions, and the electrification of heat transport can decarbonize energy use across economy. This places power sector at forefront any move away from fossil fuels, even though fossil-fuelled generators more dependable flexible than nuclear reactors or intermittent renewables, vital second-by-second balancing supply demand. Renewables tend to supplement, rather replace, capacity, although output stations will fall some have...