Nobody downloaded yet

Power markets - Coursework Example

Comments (0) Cite this document
Summary
The present electricity trading arrangements in Britain are based on rules as given in the Balancing and Settlement Codes (BSC). Stakeholders in the electricity trading include customers, suppliers, generators and non-physical traders like banks. Electricity is traded in…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.1% of users find it useful
Power markets
Read TextPreview

Extract of sample "Power markets"

Download file to see previous pages This one-hour-in-advance arrangement for the provision of electricity functions as cut-off as after that time, no arrangement can be contracted to supply electricity; it is called as Gate Closure. Generators produce electricity as per the demanded capacity during the contracted half-hour for usage by the suppliers (ELEXON, 2012).
Nevertheless, in the real-time of half-hour, possibility exists for suppliers estimating their electricity needs wrongly or failure on the part of generator to generate the settled electricity or a glitch could emerge in the transportation of electricity. It necessitates the actual time management for smooth functioning of the arrangement, which is played by the System Operator, the National Grid (ELEXON, 2012).
Those generators having capacity to generate extra electricity other than the half-hour demand of the supplier can do so by making available the additional volume to the System Operator and fix a price they expect for the extra volume. Likewise, a Generator can decrease the volume of electricity generated and can fix a price for decreasing it. Likewise, suppliers not having any shortage of electricity can offer to decrease their demand to facilitate availability of extra electricity to the System Operator and can fix the price they expect for that. On the same length, suppliers can convey to the System Operator their demand for a pre-determined price. Such conversations between the stakeholders in technical terms are called Bids and Offers. An Offer is made to increase electricity generation or decrease demand for it while a Bid is made to decrease generation or increase demand (ELEXON, 2009).
The System Operator manages supply and demand in each half an hour in real-time by accepting Bids or Offers conditional to an increase or decrease in electricity generation to fulfil demand. Later, metered volumes are measured for the half hour from Generators ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Power markets Coursework Example | Topics and Well Written Essays - 1500 words”, n.d.)
Power markets Coursework Example | Topics and Well Written Essays - 1500 words. Retrieved from https://studentshare.org/miscellaneous/1601380-power-markets
(Power Markets Coursework Example | Topics and Well Written Essays - 1500 Words)
Power Markets Coursework Example | Topics and Well Written Essays - 1500 Words. https://studentshare.org/miscellaneous/1601380-power-markets.
“Power Markets Coursework Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.org/miscellaneous/1601380-power-markets.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Power markets

Markets

...?Finance Questions Question When we talk about capital markets, the firms and individuals present there usually borrow on a long-term basis. This means that there are either people who want to spend more than they presently earn (deficit units) or those who spend lesser than their current income, namely surplus units. Hence, there has to be some sort of connection or link between these individuals or firms in order to achieve their goals and make sure money is utilized in the most effective way possible. Defined simply, ‘financial intermediation is a process which involves surplus units depositing funds with financial institutions who then lend to deficit units.’ (Gwilym, 2011) There is a clear difference between banks...
6 Pages(1500 words)Coursework

Segmenting markets

...manageable than previously dealing with the individual variable. Similar to factor analysis, it is used to determine the relationship of variables between other variables. The first step involved in cluster analysis is the assigning of similar variables to their respective clusters (Stahl, Leese, Landau, & Everitt, 2011). Variables that have a similar patter or homogenous characteristics will be assigned to particular clusters. The cluster will determine that the variables that are inside a particular cluster will have similar characteristics. This process is also considered as a marketing strategy in which market segmentation is carried out that has similar needs and wants (Romesburg, 1984). In the next...
5 Pages(1250 words)Essay

Power

...and capital flight which can destroy a market. This was seen in Latin America in the 1990's and also in the Asian currency disaster that began in Thailand. The European Union's distinct separation of powers may seem haphazard in some areas, but thus far it has proven a successful economic venture for all involved. References: Bergsten, C. Fred, ed. (2006) , "China: The Balance Sheet" Center for Strategic and International Studies, 2006 Clift, Jeremy. (2003). "Beyond the Washington Consensus" Finance and Development, September 2003 Council of the European Union Press Release, May 18, 2006, accessed online http://www.consilium.europa.eu/ueDocs/cms_Data/docs/pressData/en/misc/89641 .pdf Council of...
12 Pages(3000 words)Essay

Mortgage markets

...Mortgage Markets Prepared by Submitted to Word count 1485 (excluding contents, references and appendices) Contents Introduction 3 2. Trends in Financial Markets 3 3. Historical values of Markets and Metrics 5 4. Conclusions 7 1. Introduction In general the beliefs of the people on the mortgage bonds may affected by the interest rate shock. The interest rate shock can be absorbed when the bonds are backed by Government. The size of the GSE mortgage portfolios coupled with discipline in the market helped by interconnectivity of the international financial institutions, led to the possibility of a result that...
4 Pages(1000 words)Essay

Markets

...When we're not busy being your "target market," many of us are your people. We'd rather be talking to friends online than watching the clock. That would get your name around better than your entire million dollar web site. But you tell us speaking to the market is Marketing's job. Demographically speaking, those that do not want to be a target market are an excellent target market. Remember there are wolves out here. There is always a predator lurking in your shadow, waiting for you to relax, looking for the most opportune moment to pounce. And the effective predator will come prepared. Don't be shy about peering into hidden corners. You might see my friends there and my friends have the power. We have purchasing power and our... ...
3 Pages(750 words)Essay

Explain the Structure-Conduct-Performance paradigm in Banking and the implications of the Efficient Structure Hypothesis and Relative Market Power Hypothesis for empirical studies of the structure and performance of banking markets

...Structure Conduct Performance Paradigm is widely used in assessing the performance of the banking industry. This research paper attempted to study and explain the SCP in banking by discussing some of the available literature on the subject besides analyzing the possibility of using efficient structure hypothesis and relative market power hypothesis for future empirical studies to be conducted on assessing the performance of the banks. Results suggest that the SCP may not be the valid empirical construct for assessing the firm performance in banking industry as the empirical studies conducted across the different geographical locations suggest that the despite structural changes into the banking...
12 Pages(3000 words)Essay

Analytical book review comparing the (Rivoli, Pietra. 2005. The Travels of a T-Shirt in the Global Economy: An Economist Examines the Markets, Power and Politics of World Trade) with Naomi Klein, The Shock Doctrine: The Rise of Disaster Capitalism

...Finance ‘runs’ our world in many ways, both directly and indirectly. From giving all the comforts, to being the bone of contention, it is having an effect on all aspects of our lives. Finance or economy continues to play an important role in the lives of individuals, or even societies and also countries. Since ‘origination’, humans have been showing activeness both mentally and physically, which have transformed our world from a primitive one to an advanced one. The activities are normally carried out by the humans, organizing themselves into different countries or nations. When one looks at the annals of history, it is a clearly proven that for a nation to reach the top echelons, mainly in the aspect of providing its people... ‘runs’ our...
5 Pages(1250 words)Admission/Application Essay

Emerging Markets

...low and inflation is under control too. The US is bordered by the Pacific and Atlantic Oceans making it a favorable site for water travel. Also, it has sufficient nuclear weaponry and a strong army to ensure its defense against the worldly enemies. The US also enjoys fairly good relations with most economies of the world and it stands as a much unbiased nation with a lot of political autonomy globally. Most countries respect the decisions made by US in their political matters and they do not consider suggestions by US as intrusions to the political policies. The US is thus one of the most powerful nations today and if it continues to work as hard economically, it will enjoy its position for a long time. Emerging...
8 Pages(2000 words)Essay

Power

...in the organization. For example, the marketing manager uses his position to reward employees who earn a superior rating on their yearly performance evaluation. However, Robbins (2009) notes that the reward must be valued by the employees otherwise the leader would lose reward power. In this case, employee 1 values the reward as he could use it for a vacation which he would otherwise not afford without the bonus. As such, he works very hard and above the 40 working hours and this help in improving sales. Coercive power also arises from the position one holds in the organization. To achieve the set goals, a leader has to use necessary tactics to make the employees improve their work....
2 Pages(500 words)Essay

Power

...Power POWER Introduction Power is the ity given to an individual or a certain body to control over others. It is a phrase used widely in the day to day activities, for instance, power trip, power politics and many more others. However, very few connotations of power have positivity in its sense. According to Max Weber’s definition about power, he insinuates that with power any individual or social group can easily access an opportunity despite resistance from others regardless of where the opportunity lies. Due to this, power has been regarded to have innate features hence people have developed a notion that power is a leeway for privileges, wealth and even considering themselves to be of a superior race. Individuals have got... the...
4 Pages(1000 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Coursework on topic Power markets for FREE!

Contact Us