Bilateral contracts are important risk-hedging instruments constituting a major component in the portfolios held by many electric power market participants. However, bilateral contract negotiation is a complicated process because it involves risk management, strategic bargaining, and...

Open Source Software (OSS) expresses the idea that developers should be able to license the publication of their software in a manner permitting anyone to freely use, modify, and distribute the software. Today OSS is widely used in the software industry, such as for language development tools...

Power systems have distinctive features that greatly complicate the development of auction designs. This study reviews the theory and practice of auction design as it relates specifically to U.S. restructured wholesale power markets, i.e., centrally-administered wholesale power markets with...

This study uses a dynamic 5-bus test case implemented via the AMES Wholesale Power Market Test Bed to investigate strategic capacity withholding by generation companies (GenCos) in restructured wholesale power markets under systematically varied demand conditions. The strategic behaviors of the...

In this tutorial paper, different AC and DC optimal power flow (OPF) models are presented to help understand the derivation of Locational Marginal Prices (LMPs) in restructured wholesale power markets. As a byproduct of this analysis, the paper provides a rigorous explanation of the basic LMP...

Wholesale power markets around the world are currently undergoing a controversial restructuring of their architecture and rules of operation. Some commentators have argued that restructuring has not produced the intended improvements in market efficiency while at the same time it has complicated...

Power industry restructuring continues to evolve at multiple levels of system operations. At the bulk electricity level, several organizations charged with regional system operation are implementing versions of a Wholesale Power Market Platform (WPMP) in response to U.S. Federal Energy...

This report presents, motivates, and illustrates the use of a computational laboratory for the investigation of evolutionary trade network formation among strategically interacting buyers, sellers, and dealers. The computational laboratory, referred to as the Trade Network Game Laboratory (TNG...

In April 2003 the U.S. Federal Energy Regulatory Commission (FERC) proposed the Wholesale Power Market Platform (WPMP) for common adoption by U.S. wholesale power markets. The WPMP is a complicated market design that has been adopted in some regions of the U.S. but resisted in others on the...

In April 2003 the U.S. Federal Energy Regulatory Commission (FERC) proposed the Wholesale Power Market Platform (WPMP) for common adoption by U.S. wholesale power markets. The WPMP is a complicated market design that has been adopted in some regions of the U.S. but resisted in others on the...