• A real options approach to generation capacity expansion in imperfectly competitive power markets 

      Brøndbo, Helene Kvilhaug; Storebø, Axel; Fleten, Stein-Erik; Boomsma, Trine Krogh (Journal article; Peer reviewed, 2019)
      This paper proposes a real options approach to generation capacity expansion in imperfectly competitive power markets. Our framework incorporates firms with different levels of market power; heterogeneous technologies, ...
    • A spot-forward model for electricity prices with regime shifts 

      Paraschiv, Florentina; Fleten, Stein-Erik; Schürle, Michael (Journal article; Preprint; Peer reviewed, 2014)
      We propose a novel regime-switching approach for electricity prices in which simulated and forecasted prices are consistent with currently observed forward prices. Additionally, the model is able to reproduce spikes and ...
    • A Stochastic Dynamic Programming Approach to the Bidding Problem in the Intraday Electricity Market 

      Næss, Hilde Rollefsen; Bovim, Sunniva Reiten (Master thesis, 2018)
      The purpose of this thesis is to provide flexible market participants decision support in Elbas, in such a manner that they can take advantage of energy surpluses or deficits in the market after the spot clearing. A ...
    • An Analysis of the Swedish-Norwegian Electricity Certificate Market 

      Frogner, Jens Sveen; Hustveit, Magne (Master thesis, 2015)
      This thesis explores tradable green certificate markets, a support scheme for investments in renewable electricity production. A case-study on the Swedish-Norwegian Electricity Certificate market is conducted. In this ...
    • Analyzing the Effect of Capacity Payments on Peaking Generator Operation 

      Røssum, Ola Esten; Ledsaak, Magne Eie; Mehl, Sigurd Bondahl (Master thesis, 2018)
      This thesis aims to study the effects of capacity payments on the operational decisions of plant managers for peaking units in the Pennsylvania-New Jersey-Maryland Interconnection (PJM). We achieve this through a structural ...
    • Backing out Expectations from Hydropower Release Time Series 

      Boger, Maren; Fleten, Stein-Erik; Pichler, Alois; Keppo, Jussi; Vestbøstad, Einar Midttun (Conference object; Journal article; Preprint, 2017)
      Our goal is to study how price expectations are formed in an electricity market. In the context of a single hydropower producer in the Nordic market, we expect the forward curve to have a strong influence. The alternative ...
    • Backtesting a Stochastic Coordinated Bidding Model for Sequential Electricity Markets 

      Bringedal, Amanda Sæbø; Søvikhagen, Anne-Marthe Liaklev (Master thesis, 2018)
      Mainly, the balance in the power system is secured in the day-ahead market. Other markets with closing time closer to delivery have emerged to further secure the balance between supply and demand. The question is whether ...
    • Benchmarking time series based forecasting models for electricity balancing market prices 

      Klæboe, Gro; Eriksrud, Anders Lund; Fleten, Stein-Erik (Journal article; Peer reviewed, 2013)
      In the trade-off between bidding in the day-ahead electricity market and the real time balancing market, producers need good forecasts for balancing market prices to make informed decisions. A range of earlier published ...
    • Beslutningsstøtte med kontinuerlig virkningsgradsmåling i vannkraftverk 

      Ruud, Einar Johan (Master thesis, 2017)
      Fremtidens energimiks i Nord-Europa er preget av en stadig større andel uforutsigbare fornybare energikilder som vind og sol, og dette medfører utfordringer for produksjonsplanlegging og regulering av kraftproduksjon. Det ...
    • Bidding in sequential electricity markets: The Nordic case 

      Boomsma, Trine Krogh; Juul, Nina; Fleten, Stein-Erik (Journal article; Peer reviewed, 2014)
      For electricity market participants trading in sequential markets with differences in price levels and risk exposure, it is relevant to analyze the potential of coordinated bidding. We consider a Nordic power producer who ...
    • Bidding Revealed: An Empirical Analysis of Selling Hydropower through Elspot 

      Grøndahl, Roger Blikra; Alnæs, Erik Nicholas (Master thesis, 2012)
      In the deregulated Nordic electricity market, power producers bid to sell tomorrow's power in the day-ahead auction Elspot. This thesis presents an empirical analysis of bids submitted by three medium to large sized Norwegian ...
    • Capacity Expansion in Power Markets - a Real Options Approach 

      Brøndbo, Helene Kvilhaug; Storebø, Axel (Master thesis, 2017)
      This thesis explores generation capacity expansions in power markets using a real options approach. Our framework considers several features of actual power markets, including time-varying demand and generation technologies ...
    • Coordinated Multimarket Bidding for a Hydropower Producer using Stochastic Programming 

      Kongelf, Håkon; Overrein, Kristoffer (Master thesis, 2017)
      With the connection of new regions into the Nordic power markets competition intensifies. The incentive of power producers to exploit their portfolios more effectively is increasing. Expecting a higher share of non-dispatchable ...
    • Day-ahead electricity market bidding for a cascaded reservoir system: A stochastic programming approach 

      Aasgård, Ellen Krohn; Andersen, Gørild Slettjord (Master thesis, 2013)
      In this thesis a stochastic model for bid optimization and short-term productionscheduling has been implemented and tested trough a simulationprocedure run over a longer period of time for a complex real-life river system.The ...
    • Dynamic Hedging for a Norwegian Hydropower Producer - Electricity prices, inflow and currency risk 

      Nersten, Sveinung; Dimoski, Joakim (Master thesis, 2018)
      This master's thesis consists of two articles. In the first article, we present a global, dynamic model for hedging of hydropower production. We include stochastic processes for spot and futures prices, reservoir inflow ...
    • Effektiviteten i det europeiske kraftmarkedet:: Et tiltak for å inkludere fleksibilitet fra termisk kraftproduksjon 

      Tjeransen, Carl Fredrik; Rudlang, Erik Brendbekken (Master thesis, 2014)
      De er nødvendig å redusere kraftproduksjon fra tradisjonelle energikilder som kull og gass og øke andelen ny fornybar kraftproduksjon som ikke skader miljøet. Dette skiftet skjer i flere Europeiske land. Fornybar kraftproduksjon ...
    • Electricity capacity expansion in a Cournot duopoly 

      Brøndbo, Helene Kvilhaug; Storebø, Alexander; Fleten, Stein-Erik; Boomsma, Trine Krogh (Journal article; Peer reviewed, 2017)
      This paper adopts a real options approach to analyze marginal investments in power markets with heterogeneous technologies and time-varying demand. We compare the investment behavior of two firms in a Cournot duopoly to a ...
    • Electricity futures prices: time-varying sensitivity to fundamentals 

      Fleten, Stein-Erik; Huisman, Ronald; Kilic, Mehtap; Pennings, Enrico; Westgaard, Sjur (Journal article, 2015)
      This paper provides insight into the time-varying relation between electricity futures prices and fundamentals in the form of contract prices for fossil fuels. As supply curves are not constant and different producers have ...
    • Empirical Analysis of Hydropower Scheduling 

      Lien, Morten Adrian; Brelin, Sebastian (Master thesis, 2017)
      A reservoir manager at a hydropower plant has to decide whether or not to release water in order to produce electricity, and the level at which to produce. These production levels have different related efficiencies as ...
    • Essays on electricity price modelling 

      Hagfors, Lars Ivar (Doctoral theses at NTNU;2018:302, Doctoral thesis, 2018)
      This doctoral thesis consists of 6 separate research essays. The essays all use various econometric modelling techniques to examine different aspects of the move towards cleaner energy in Europe, from an economic point of ...