Janne Kettunen, Ahti Salo, Derek W. Bunn
Where a service provider faces substantial operational risk in meeting demand, as well as price risk in resourc-ing it from a wholesale market, conventional risk management optimization methods can...
Evaluating individual market power in electricity markets via agent-based simulation (2003)
Derek W. Bunn, Fernando S. Oliveira
1 Abstract. We use agent-based simulation in a coordination game to analyse the possibility of market power abuse in a competitive electricity market. The context of this was a real application to...
The synthesis of forecasting models in decision analysis / Derek W. Bunn (1978)
Incluye bibliografía e índice
Incluye bibliografía e índice
Derek W. Bunn, Stefania Pantelidaki
This paper proposes an approach that models and forecasts sales through a flexible parametric response function (multifunctional), allowing for differentiated behavioural assumptions of the response...
Modeling the strategic trading of electricity assets
Fernando S. Oliveira, Derek W. Bunn, London Business School
We analyze how strategic asset trading can be used to gain competitive advantage. In the case of electricity markets, companies seek to improve the value of their generating portfolios by acquiring,...
Interaction of European Carbon Trading and Energy Prices
This paper addresses the economic impact of the EU Emission Trading Scheme for carbon on wholesale electricity and gas prices. Specifically, we analyse the mutual relationships between electricity,...
Investment incentives in the Korean electricity market
Park, Jung-Yeon, Ahn, Nam-Sung, Yoon, Yong-Beum, Koh, Kyung-Ho, Bunn, Derek W.
Day, Christopher J, Bunn, Derek W
The task of developing an adequate modeling approach to understanding strategic behavior in competitive electricity markets is still a major open research question. In this paper, we develop an...
Assessment of the uncertainty in future UK electricity investment using an industry simulation model
Incentives and coordination in vertically related energy markets
Micola, Augusto Rupérez, Banal-Estañol, Albert, Bunn, Derek W.
We present an agent-based model of a multi-tier energy market. We show how reward interdependence between strategic business units within a vertically integrated firm can increase its profits in...
Crossholdings, concentration and information in capacity-constrained sealed bid-offer auctions
Micola, Augusto Ruperez, Bunn, Derek W.
We present a sequence of simulations to analyse the collusive effects of transparency and different degrees of producer crossholding in energy markets. The results suggest that (a) the functional...
Intra-day and regime-switching dynamics in electricity price formation
Karakatsani, Nektaria V., Bunn, Derek W.
This paper analyses the complex, non-linear effects of spot price drivers in wholesale electricity markets: their intra-day dynamics and transient irregularities. The context is the UK market, after...
Incentives and Coordination in Vertically Related Energy Markets
Augusto Rupérez Micola, Albert Banal Estañol, Derek W. Bunn
We present an agent-based model of a multi-tier energy market including gas shippers, electricity generators and retailers. We show how reward interdependence between strategic business units within...
Computational modelling of price formation in the electricity pool of England and Wales
Bunn, Derek W., Day, Christopher J.
This paper develops a detailed computational model of price formation in the England and Wales electricity pool, as it operated for 11 years from 1990 to 2001. It is clear that during this period,...
Forecasting electricity prices: The impact of fundamentals and time-varying coefficients
Karakatsani, Nektaria V., Bunn, Derek W.
This paper investigates the day-ahead forecasting performance of fundamental price models for electricity spot prices, intended to capture: (i) the impacts of economic, technical, strategic and risk...
A comparison of several adaptive forecasting procedures
There is a considerable amount of published research relevant to the selection of automatic, online, single exponential smoothing models, applicable primarily to following a stationary process of...
Model-Based Comparisons of Pool and Bilateral Markets for Electricity
A variety of market mechanisms have been proposed and implemented around the world in order to create competitive electricity pools and exchanges. However, it is an open question whether pool-based...