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Lecture

Electricity Market: Balancing and Liberalization

In course

EE-570: Power system restructuring and deregulation

This course presents different types and mechanisms of electricity markets. It addresses in particular their impacts on power/distribution systems operation and consequently the appropriate strategies capable to ensure a secure and reliable functioning. ...

Description

This lecture covers the concepts of ancillary services, capacity market, and the liberalization of the electricity market at RTE. It explains the generation, transmission, and distribution of electricity, the different markets, and the frequency control mechanisms. The instructor discusses the importance of system balancing, the role of different actors in the power system, and the challenges related to peak demand and grid security.

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Instructor

Sidi-Rachid Cherkaoui

Rachid Cherkaoui received the M.S. degree in electrical engineering and the Ph.D. degree from Swiss Federal Institute of Technology (EPFL), Lausanne, in 1983 and 1992 respectively. From 1983 to 1987, he worked at Entreprises Electriques Fribourgeoises (Swiss electrical utility) developing a state estimator and security analysis tools for the HV transmission system of that company. From 1987 to 1992, he joined the power system laboratory of EPFL where he achieved his Ph.D. thesis in the field of optimal operation topologies for distribution systems. In this respect, he was the recipient of the ABB Swiss Award83. Since 1993, he is leading the research activities in the field of optimization and simulation techniques applied to electrical power and distribution systems. Presently his main research topics are electricity market deregulation, distributed generation and storage, and, power system vulnerability mitigation. He is senior member of IEEE, member of technical program committees of various conferences, member of CIGRE task forces C5-2, and IEEE Swiss Chapter officer since 2005. He serves regularly as reviewer for different journals and conferences. Dr. Cherkaoui is the author or co-author of more than 50 scientific publications.

Official source

Ontological neighbourhood

Environmental science

Environmental policy: Topics in environmental policy

Statistics

Statistical inference: Mathematical statistics

Related concepts (32)

Electricity market

In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology.

Market (economics)

In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.

Cauchy distribution

The Cauchy distribution, named after Augustin Cauchy, is a continuous probability distribution. It is also known, especially among physicists, as the Lorentz distribution (after Hendrik Lorentz), Cauchy–Lorentz distribution, Lorentz(ian) function, or Breit–Wigner distribution. The Cauchy distribution is the distribution of the x-intercept of a ray issuing from with a uniformly distributed angle. It is also the distribution of the ratio of two independent normally distributed random variables with mean zero.

Ratio distribution

A ratio distribution (also known as a quotient distribution) is a probability distribution constructed as the distribution of the ratio of random variables having two other known distributions. Given two (usually independent) random variables X and Y, the distribution of the random variable Z that is formed as the ratio Z = X/Y is a ratio distribution. An example is the Cauchy distribution (also called the normal ratio distribution), which comes about as the ratio of two normally distributed variables with zero mean.

Market economy

A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.

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