Deregulation or Governmental Intervention?A Counterfactual Perspective on China's Electricity Market Reform

The long-standing severe power shortage in China has provoked much debate on whether China should further promote market-oriented electricity reform. The present paper addresses this issue by analyzing the impacts of deregulation of the electricity generation sector and retailing activities on other sectors, the macroeconomy and electricity users. A countetfactual scenario analysis is used based on a simplified computable general equilibrium framework. We find that deregulation can significantly improve the efficiency of electricity production, increase employment and enhance household welfare. These nontrivial findings can help to resolve many controversies about governmental intervention during China＇s economic transition. Our findings have two implications relating to policy feasibility and applicability; that is, competition in the electricity retail market shouM be phased in, and the necessary arrangements for unemployment in incumbent firms shouM be considered.

Banking deregulation and corporate tax avoidance

We investigate whether tax avoidance substitutes for external financing. We exploit interstate banking deregulation as a quasi-external shock to examine whether firms engage in less tax avoidance after banking deregulation, because of cheaper and easier access to credit from banks. We find no empirical evidence to support this substitutive relation, even for firms with higher financial constraints or firms with higher external financing dependence.

A Generation Pricing Method with Capacity Bidding

Due to historic reasons China encounters some special difficulties in ESI (electricity system industry) restructuring. An easy and simple electricity value equivalent (es EVE) method for day ahead pool purchase pricing of China is therefore presented in this paper. The es EVE method is different from two part and one part tariffs. It is more like the UK's method in form, but revised for China with some new concepts and procedure. The main contributions of it include: (1) Find two kinds of eigenvalue, namely EVEs, in an optimization model, (2) Define new concepts of virtual units and feasible region, (3) Twice merit orderings are employed successively to find marginal price. They are simple maximum and minimum comparison procedures and so on. The special economic significance of the method for China is discussed, and some suggestion for ESI restructuring based on es EVE method are provided. A case study is offered at the end of the paper.

Vulnerable Consumers in the Deregulated Dutch Health System

Public service deregulation is favoured for motivating providers to offer consumers better price-quality services. Consequently, consumers are enabled to make informed choices and choose for the best service provider. However, recent publications reveal that consumers are not capable of exercising optimal choice behaviour. Despite these concerns, evidence is lacking on the extent to which potentially vulnerable consumers make use of the core element of deregulation—switching health plans. This article is meant to study whether potentially vulnerable consumers do indeed switch less health plans in the deregulated Dutch health insurance market than regular consumers. In order to answer this question, we extract questionnaire data from the LISS panel, covering the years 2009-2012. A total of 16,779 health insurance consumers were included in the sample. The average response rate was 78%. Logistic regression results show that consumers being chronically ill, 60 and older, and without Internet access, do indeed switch less often. Intriguingly, non-working consumers and those living equal to or below the poverty line, turn out to switch more often than regular consumers. As a result, we conclude that the vulnerable consumer in the Dutch health insurance market is described by the following characteristics: chronically ill, 60 and older, and without Internet access. This specific group tends to get locked-in and suffers disproportion- ately from suboptimal choice behaviour.

Power Quality Regulation Using Free Market Oriented Approach

Power quality is a compatibility issue between the supply systems and the connected loads. It is often considered as a customer-side problem as its significance depends primarily on the sensitivity of the affected equipment and its function. Improvement solutions are implemented by or on behalf of the customers only if the negative impact is causing great financial losses. However, as the reliance on electronic devices continues to increase unabatedly, the percentage of equipment being affected is expected to grow appreciably. In due course, the number of affected equipment could be so large that it is only practical and economical to implement universal solutions instead of individual solutions. This paper provides an early view of this scenario and explores the various elements necessary for reining in the poor power quality, widely expected to deteriorate further following deregulation of power industry. It attempts to use the free market oriented approach so that solutions implemented are justified on economical basis.

An Efficient Hybrid TLBO-PSO Approach for Congestion Management Employing Real Power Generation Rescheduling

In the present deregulated electricity market, power system congestion is the main complication that an independent system operator (ISO) faces on a regular basis. Transmission line congestion trigger serious problems for smooth functioning in restructured power system causing an increase in the cost of transmission hence affecting market efficiency. Thus, it is of utmost importance for the investigation of various techniques in order to relieve congestion in the transmission network. Generation rescheduling is one of the most efficacious techniques to do away with the problem of congestion. For optimizing the congestion cost, this work suggests a hybrid optimization based on two effective algorithms viz Teaching learning-based optimization (TLBO) algorithm and Particle swarm optimization (PSO) algorithm. For binding the constraints, the traditional penalty function technique is incorporated. Modified IEEE 30-bus test system and modified IEEE 57-bus test system are used to inspect the usefulness of the suggested methodology.

Analytical Framework for Market-oriented DSR Flexibility Integration and Management

Integration and management of the flexibility of Demand Side Resources (DSR) in today’s energy systems plays a significant role in building up a sustainable society. However, the challenges of understanding, predicating and handling the uncertainties associated this subject to a great extent hamper its development. In this paper, an analytical framework based on a multi-portfolio setup in presence of a deregulated power market is proposed to address such challenges by adopting the thinking in modern portfolio theory (MPT). A Numerical example that targets on analyzing the risk and return for various flexibility pricing strategies are presented to illustrate some features of the framework.

Carbon Tax and Renewable Energy Diffusion in the Deregulated Texas Electricity Market: An Agent-Based Analysis

In the United States, emission regulations are enacted at a state level;individual states are allowed to define what methods they will use to mitigate their carbon emissions. The consequence of this is especially interesting in the state of Texas where new legislation has created a “deregulated” electricity market in which end-users are capable of choosing their electricity provider and subsequently the type of electricity they wish to consume (generated by fossil fuels or renewable sources). In this paper we analyze the effects of carbon tax on the development of renewable generation capacity at the utility level while taking into account expected adoption of rooftop PV systems by individual consumers using agent based modeling techniques. Monte Carlo simulations show carbon abatement trends and proffer updated renewable portfolio standards at various levels of likelihood.

Optimal Unit Commitment with Renewable Energy in Regulated and Deregulated Systems

In this paper, the impact of the wind power generation system on the total cost and profit of the system is studied by using the proposed procedure of binary Sine Cosine (BSC) optimization algorithm with optimal priority list (OPL) algorithm. As well, investigate the advantages of system transformation from a regulated system to a deregulated system and the difference in the objective functions of the two systems. The suggested procedure is carried out in two parallel algorithms;The goal of the first algorithm is to reduce the space of searching by using OPL, while the second algorithm adjusts BSC to get the optimal economic dispatch with minimum operation cost of the unit commitment (UCP) problem in the regulated system. But, in the deregulated system, the second algorithm adopts the BSC technique to find the optimal solution to the profit-based unit commitment problem (PBUCP), through the fast of researching the BSC technique. The proposed procedure is applied to IEEE 10-unit test system integrated with the wind generator system. While the second is an actual system in the Egyptian site at Hurghada. The results of this algorithm are compared with previous literature to illustrate the efficiency and capability of this algorithm. Based on the results obtained in the regulated system, the suggested procedure gives better results than the algorithm in previous literature, saves computational efforts, and increases the efficiency of the output power of each unit in the system and lowers the price of kWh. Besides, in the deregulated system the profit is high and the system is more reliable.

Assessment of Available Transfer Capability for Congestion Management in Restructured Electrical Power Network for Competent Operation

Congestion is the prime cause of problems, due to open access of power system. The AC Power Transmission Congestion Distribution factor (PTCDF) is suitable for computing change in any line quantity for a change in MW bilateral transaction. The proposed PTCDF method is more accurate as compared to the DC power distribution factor. With PTCDF ATC can be calculated. After calculating ATC it is possible to know the valid multiple transaction on power system. With the help of ATC calculations congestion problem can be solved in restructured electrical power network. The paper presents the method for calculating ATC using PTCDF.

Review of Methods to Calculate Congestion Cost Allocation in Deregulated Electricity Market

With maturing deregulated environment for electricity market, cost of transmission congestion becomes a major issue for power system operation. Uniform Marginal Price and Locational Marginal Price (LMP) are the two practical pricing schemes on energy pricing and congestion cost allocation, which are based on different mechanisms. In this paper, these two pricing schemes are introduced in detail respectively. Also, the modified IEEE-14-bus system is used as a test system to calculate the allocated congestion cost by using these two pricing schemes.

China's Oil Market to be Deregulated Slowly

Nowadaysitismoreandmoredifficulttofindarapidmoney-makingmarket,butChina's1.2-billion-peoplemarketisnodoubtanattractivecaketoforeigninvestorstointroducecapitalandtechnology.Manymajorinternationaloilfirmshavemadeanattemptforthecountry'soilmarket.Inther...

Hybrid Neuro Fuzzy Controller for Automatic Generation Control of Multi Area Deregulated Power System

This paper is intended in investigating the Automatic Generation Control (AGC) problem of a deregulated power system using Adaptive Neuro Fuzzy controller. Here, three area control structure of Hydro-Thermal generation has been considered for different contracted scenarios under diverse operating conditions with non-linearities such as Generation Rate Constraint (GRC) and Backlash. In each control area, the effects of the feasible contracts are treated as a set of new input signals in a modified traditional dynamical model. The key benefit of this strategy is its high insensitivity to large load changes and disturbances in the presence of plant parameter discrepancy and system nonlinearities. This newly developed scheme leads to a flexible controller with a simple structure that is easy to realize and consequently it can be constructive for the real world power system. The results of the proposed controller are evaluated with the Hybrid Particle Swarm Optimisation (HCPSO), Real Coded Genetic Algorithm (RCGA) and Artificial Neural Network (ANN) controllers to illustrate its robustness.

A Novel Approach for a Two Area Load Frequency Control in a Competitive Electricity Market Adopting Unscheduled Interchange Price

This paper proposes a novel price based load frequency control scheme for a two area system, using an Unscheduled Interchange (UI) price signal, which is ideal and suitable for electricity market. The Government of India has introduced Availability Based Tariff (ABT) structure with an intention of ensuring grid security and to regulate grid indiscipline through Central Electricity Regulatory Commission Regulation. After the introduction of this regulation, the over or under injection by the generating companies (GENCOs) during off peak or peak hours are demoralized and the frequency is maintained at the nominal value. In this paper, the GENCOs instead of reacting to this price signal manually, an automated mode of frequency control is deployed in each area using UI price signal to achieve fast response to load change. The Distribution Company (DISCO) Participation Matrix (DPM) has also been employed in this work to relate the scenario under deregulation of electricity market. The proposed scheme has been verified for different cases by simulating it on a two area system, each having four GENCOs and one DISCO in MATLAB/SIMULINK environment. From the results, it is clearly observed that if the proposed method is employed by all GENCOs, it will certainly enhance the control of system frequency and at the same time throw down the UI liability of market participants. It also ensures that the GENCOs and DISCOs strictly adhere to the bilateral contract following the DISCO participation matrix.

Can the improvement of competitive adequacy and fairness reduce discriminatory M&A behavior?Evidence from the market access negative list pilot in China

Corporate mergers and acquisitions(M&As)are subject to skewed logic due to excessive government regulation.China is progressively adopting the Market Access Negative List(MANL)pilot to transfer the power of resource allocation from the government to the market.Using the DID method,we examine the impact of relaxing market access regulation on firms’M&A behavior against China’s institutional background and the M&A events of listed companies from 2012 to 2019.The MANL significantly increases firms’M&A tendency and amount and strengthens the competitive adequacy and fairness of market-oriented M&A decisions.Post-M&A financial performance does not increase,but human capital productivity,innovation effectiveness and total factor productivity do,demonstrating the dynamic balance of profit and efficiency in M&As.

Achievements and Challenges in European Energy Markets

The European electricity and gas markets have been deregulated more than two decades before.From rather diverse starting points,they have continuously evolved over the years to accommodate with new challenges and to improve integration.Since 2005,these markets have been complemented by the market for emission certificates established by the European Union(EU)emission trading system.Three partly competing paradigms have thereby shaped the markets and continue to drive their on-going transformation:effective competition,subsidiarity and sustainability.

Integrated transmission and generation planning model in a leregulated environment

After the deregulation of the Power Sector in the U.S., planning for generation and transmission capacities is decentralized. There is, however, still need for the long term integrated planning of generation and transmission capacities at the macro level, since these two sectors must operate in a coordinated manner. This paper presents a model for integrating generation and transmission expansion planning to identify an indicative expansion plan for the total sector at the macro level. The argument for an integrated model is supported using evidence from integrated planning efforts in real life systems. The application of the proposed model is illustrated using an example that requires expansion of generation and transmission capacities over three regions in a deregulated power system. The example considers that addition of generating capacity should come from renewable sources. The test results show the potential cost saving from integrated planning.

An Old Story Retold: Loss of G1 Control Defines A Distinct Genomic Subtype of Esophageal Squamous Cell Carcinoma

Esophageal squamous cell carcinoma （ESCC） has a high mortality rate. To determine the molecular basis of ESCC development, this study sought to identify characteristic genome-wide alterations in ESCC, including exonic mutations and structural alterations. The clinical implications of these genetic alterations were also analyzed. Exome sequencing and verification were performed for nine pairs of ESCC and the matched blood samples, followed by validation with additional sam- ples using Sanger sequencing. Whole-genomc SNP arrays were employed to detect copy number alteration （CNA） and loss of heterozygosity （LOH） in 55 cases, including the nine ESCC samples subjected to exome sequencing. A total of 108 non-synonymous somatic mutations （NSSMs） in 102 genes were verified in nine patients. The chromatin modification process was found to be enriched in our gene ontology （GO） analysis. Tumor genomes with TP53 mutations were signifi- cantly more unstable than those without TP53 mutations. In terms of the landscape of genomic alterations, deletion of 9p21.3 covering CDKN2A/2B （30.9%）, amplification of 1 1q13.3 covering CCND1 （30.9%）, and TP53 point mutation （50.9%） occurred in two-thirds of the cases. These results suggest that the deregulation of the G1 phase during the cell cycle is a key event in ESCC. Furthermore, six minimal common regions were found to be significantly altered in ESCC samples and three of them, 9p21.3, 7p 11.2, and 3p 12.1, were associated with lymph node metastasis. With the high correlation of TP53 mutation and genomic instability in ESCC, the amplification of CCND1, the deletion of CDKN2A/2B, and the somatic mutation of TP53 appear to play pivotal roles via G1 deregulation and therefore helps to classify this cancer into different genomic subtypes. These findings provide clinical significance that could be useful in future molecular diagnoses and therapeutic targeting.