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Review of Information Disclosure in Different Electricity Markets

Yang Yang (), Minglei Bao (), Yi Ding (), Yonghua Song (), Zhenzhi Lin () and Changzheng Shao ()
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Yang Yang: College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China
Minglei Bao: College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China
Yi Ding: College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China
Yonghua Song: College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China
Zhenzhi Lin: College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China
Changzheng Shao: College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China

Energies, 2018, vol. 11, issue 12, 1-20

Abstract: 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.

Keywords: information disclosure; electricity market; poolco model; bilateral contract model; hybrid model (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2018
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