A simplified financial transmission rights auction in the context of the New Zealand electricity grid

Geoffrey Pritchard, Winston LeMay Sweatman, Ghazaleh Mohammadian, Philip Kilby

Abstract


This article considers the use of financial transmission rights for managing electricity provision on a power grid. The use of a sub-grid of hubs for dealing in these products is explored. Some suitable approaches to this practice are outlined. These identify the feasible size of sub-grid and locate additional constraints.

References
  • W. W. Hogan, Contract networks for electric power transmission, J. Regulatory Economics 4 (1992), 211--242. doi:10.1007/BF00133621
  • A. B. Philpott and G. Pritchard, Financial transmission rights in convex pool markets, Oper. Res. Letters, 32 (2004), 109--113. doi:10.1016/j.orl.2003.06.002

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DOI: http://dx.doi.org/10.21914/anziamj.v54i0.6221



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ANZIAM Journal, ISSN 1446-8735, copyright Australian Mathematical Society.