Estimation of Electricity Market Distribution Functions

E.J. Anderson and A.B. Philpott ()

Annals of Operations Research, 2003, vol. 121, issue 1, 32 pages

Abstract: In an electricity pool market the market distribution function gives the probability that a generator offering a certain quantity of power at a certain price will not be dispatched all of this quantity by the pool. It represents the uncertainty in a pool market associated with the offers of the other agents as well as demand. We present a general Bayesian update scheme for market distribution functions. To illustrate the approach a particular form of this procedure is applied to real data obtained from a New Zealand electricity generator. Copyright Kluwer Academic Publishers 2003

Keywords: electricity markets; optimization; Bayesian statistics (search for similar items in EconPapers)
Date: 2003
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DOI: 10.1023/A:1023342816908

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