Determinants of the wholesale prices of energy and ancillary services in the U.S. Midcontinent electricity market

The Fall of Coal: Joint Impacts of Fuel Prices and Renewables on Generation and Emissions

“…The variables C F it and E it are formed for coal-fired units across the transmission regions of the Electric Reliability Council of Texas (ERCOT), Midcontinent Independent System Operator (MISO), PJM Interconnection, and Southwest Power Pool (SPP). 5 These ISOs were selected because they have publicly available data for daily wind generation, have significant coal generation, and capture nearly two-thirds of wind generation in the United States. Daily wind generation data was collected for each region over the period 2008-2013 and used to form W t , which is the wind generation in hundreds of gigawatt hours (GWh) in the ISO of interest on day t .…”

“…The 25 MW minimum-capacity limit for CEMS means we drop 14, 5, 5, and 0 coal-fired units across MISO, PJM, SPP, and ERCOT, respectively. 5 One possible concern of using ISO as the geographic region for our estimations is that ISOs import and export power out of their territory ( Figure C.1). In robustness checks discussed below, we do consider specifications that control for the neighboring ISO's load and show the results from this specification are numerically similar to the results presented below.…”

“…This suggests coal plants in MISO may be relatively more efficient compared to the natural gas units in that region. The form of equation 2implies that along the intensive margin, the marginal effects of P R and W on the τ th quantile of the dependent variable are given by (5) ∂ y it ____ ∂ P it R = β 1τ + 2 β 2τ P it…”

“…Given this form, we calculate "actual" and "counterfactual" marginal effects along the intensive margin for the capacity factor specifications ( Table 4) and for the emissions specifications ( Table 5). The actual marginal effects are based on using the given year's (2008 or 2013) ISO-specific average values of P R and W in the marginal effects equations (5) and (6). In the counterfactual responses, for ∂ CF/∂ P R we assume wind generation remains at its 2008 level and, likewise for ∂ CF/∂ W , P R is held at its 2008 average value.…”

Key Issues and Technical Applications in the Study of Power Markets as the System Adapts to the New Power System in China

“…They designed a cost-based ancillary services market mechanism and verified its technical and economic feasibility through a simulation of the Chilean [126] electricity market. Some scholars studied the joint clearance of the electricity spot market and the auxiliary services market [127][128][129], while some others have proposed mechanisms to prompt flexible resource providers, including energy storage [130] and distributed power supply [131], to participate in the secondary services market.…”