Allocating Transmission to Mitigate Market Power in Electricity Networks

We ask what conditions transmission contracts increase or mitigate market power. We show that the allocation process of transmission rights is crucial. In an efficient arbitraged uniform price auction, generators will only obtain contracts that mitigate their market power. However, if generators inherit transmission contracts or buy them in a ‘pay-as-bid’ auction, then these contracts can enhance market power. In the two-node network case, banning generators from holding transmission contracts that do not correspond to delivery of their own energy mitigates market power. Meshed networks differ in important ways as constrained links no longer isolate prices in competitive markets from market manipulation. The paper suggests ways of minimising market power considerations when designing transmission contracts.electricity, contracts, auction, network, transmission

Electricity transmission: an overview of the current debate

Electricity transmission has emerged as critical for successfully liberalising power markets. This paper surveys the issues currently under discussion and provides a framework for the remaining papers in this issue. We conclude that signalling the efficient location of generation investment might require even a competitive LMP system to be complemented with deep connection charges. Although a Europe-wide LMP system is desirable, it appears politically problematic, so an integrated system of market coupling, possibly evolving by voluntary participation, should have high priority. Merchant investors may be able to increase interconnector capacity, although this is not unproblematic and raises new regulatory issues. A key issue that needs further research is how to better incentivize TSOs, especially with respect to cross-border issues.Electricity, Transmission, Regulation, Prices, Merchant Investment

A Review of the Monitoring of Market Power The Possible Roles of TSOs in Monitoring for Market Power Issues in Congested Transmission Systems

The paper surveys the literature and publicly available information on market power monitoring in electricity wholesale markets. After briefly reviewing definitions, strategies and methods of mitigating market power we examine the various methods of detecting market power that have been employed by academics and market monitors/regulators. These techniques include structural and behavioural indices and analysis as well as various simulation approaches. The applications of these tools range from spot market mitigation and congestion management through to long-term market design assessment and merger decisions. Various market-power monitoring units already track market behaviour and produce indices. Our survey shows that these units collect a large amount of data from various market participants and we identify the crucial role of the transmission system operators with their access to dispatch and system information. Easily accessible and comprehensive data supports effective market power monitoring and facilitates market design evaluation. The discretion required for effective market monitoring is facilitated by institutional independence.Electricity, liberalisation, market power, regulation

A Unit Commitment and Economic Dispatch Model of the GB Electricity Market – Formulation and Application to Hydro Pumped Storage

We present a well calibrated unit commitment and economic dispatch model of the GB electricity market and applied it to the economic analysis of the four existing hydro pumped storage (PS) stations in GB. We found that with more wind on the system PS arbitrage revenue increases: with every percentage point (p.p) increase in wind capacity the total PS arbitrage profit increases by 0.21 p.p.. However, under a range of wind capacity, the PS’ modelled revenue from price arbitrage is not enough to cover their ongoing fixed costs. Analysing the 2015-18 GB balancing and ancillary services data suggests that PS stations were not active in managing transmission constraints and in fact about 60% of constraint payments went to gas-fired units. However, the PS stations are active in provision of ancillary services such as fast reserve, response and other reserve services with a combined market share of at least 30% in 2018. Stacking up the modelled revenue from price arbitrage with the 2018 balancing and ancillary services revenues against the ongoing fixed costs suggests that the four existing PS stations are profitable. Most of the revenue comes from balancing and ancillary services markets – about 75% – whereas only 25% comes from price arbitrage. However, the revenues will not be enough to cover capex and opex of a new 600 MW PS station. The gap in financing will have to come from balancing and ancillary services market opportunities and less so from purely price arbitrage. Finally, we found that the marginal contribution of most of the existing PS stations to gas and coal plant profitability is negative, while from the system point of view, PS stations do contribute to minimizing the total operating cost

Ethnic differences in success at application for consultant posts among United Kingdom physicians from 2011 to 2019: a retrospective cross-sectional observational study

OBJECTIVES: To identify associations between success following application for consultant physician posts and demographic factors. DESIGN: Logistic regression analysis of nationwide survey data. SETTING: United Kingdom (UK) physicians with a recent certificate of completion of training (CCT). PARTICIPANTS: All UK trainee physicians who received a CCT between 2010 and 2019 were surveyed. Respondents were excluded if they had not applied for a consultant post or if application data were incomplete. MAIN OUTCOME MEASURES: The primary outcome measure was success over the entire consultant application process, i.e. shortlisted and offered the post following the first application. Secondary outcomes were: shortlisted following first application and offered a consultant post at first interview. RESULTS: From 7037 CCT holders surveyed, 50.7% responded. While 1198 (59.7%) respondents were white, 760 (37.9%) were from minority ethnic groups and 50 (3.5%) were of unknown ethnicity. Primary medical qualification (PMQ) country was the UK in 75.3% (n = 1512). On multivariable logistic regression analysis the independent negative associations with success were: minority ethnicity (odds ratio [OR] 0.55, 95% confidence interval [CI] 0.43-0.71); p < 0.001) vs. white; PMQ from Europe (OR 0.47, 95% CI 0.28-0.79; p = 0.004) or Asia (OR 0.68, 95% CI 0.49-0.96; p = 0.027) vs. UK PMQ; year of CCT 2012 (OR 0.40, 95% CI 0.24-0.68; p = 0.001), 2013 (OR 0.39, 95% CI 0.23-0.65; p < 0.001), and 2014 (OR 0.26, 95% CI 0.15-0.43; p < 0.001) vs. 2019. Specialties associated with lower success rates included Cardiology, Endocrinology, Genitourinary medicine, Palliative care, Renal and Respiratory, compared to Acute medicine. CONCLUSIONS: Minority ethnic group candidates for consultant physician posts had lower success rates compared to white candidates after correction for important variables including specialty, time from and country of PMQ. This finding requires further evaluation to identify the causes for this variation

Bodies, building and bricks: Women architects and builders in eight eco-communities in Argentina, Britain, Spain, Thailand and USA

Eco-building is a male domain where men are presumed to be better builders and designers, more men than women build and women find their design ideas and contributions to eco-building are belittled. This article suggests that a focus on bodies, embodiment and the ‘doing’ of building is a potentially productive way to move beyond current gender discrimination. This article makes three key interventions using empirical material from eight case studies of eco-communities in Britain, Thailand, Spain, the USA and Argentina. First, it uses a focus on eco-communities to illustrate the enduring persistence of gender divisions in architecture and building. Second, by using multi-site examples of eco-communities from diverse countries this article finds more commonalities than differences in gender discrimination across cultures and nationalities. Third, it outlines three spaces of opportunity through which more gender-neutral approaches are being developed in eco-building: (1) in challenging the need for ‘strong’ bodies, (2) by practising more embodied ways of building and (3) by making visible women's bodies in building. The ‘doing’ and manual aspect of eco-building is unfamiliar for many (not just women) and interviewees commented on the need to (re)learn how to be practical and to understand the physical possibilities (and limitations) of their bodies

Post-materialistic values and entrepreneurial intention-The Case of Saudi Arabia

Purpose: The purpose of this paper is to investigate how cultural values influence the entrepreneurial process. It conceptualises the relationship between post-materialistic values and entrepreneurial intention to explain low entrepreneurial activity. Design/methodology/approach: The study was conducted in Saudi Arabia with non-entrepreneurs. An online survey returned 405 valid questionnaires, representing a 27 per cent response rate. The data were analysed using partial least structural equation modelling. Findings: The paper identifies key factors that explain the influence of changing cultural values on entrepreneurial activity. The results show that post-materialistic values influence entrepreneurial intention by decreasing desirability and entrepreneurial self-efficacy. Research limitations/implications: The study conceptualises the interplay between cultural values and entrepreneurial intention in Saudi Arabia. Further insights can be developed by comparing Saudi Arabia with other countries. The study was conducted as a “snapshot” of the current situation of entrepreneurship in Saudi Arabia with a cross-sectional survey design. Practical implications: The paper holds important implications for entrepreneurship educators when addressing unsupportive cultures for entrepreneurial activity. Cultural and motivational approaches are suggested. While the former focuses on aspects that encourage the desire and confidence to start a business, the latter involves encouraging setting venture creation as a goal. Originality/value: Previous studies indicated that post-materialistic values negatively influence entrepreneurship; this paper contributes further by exploring how this relationship manifests by exploring the intervening factors between post-materialistic values and entrepreneurial intention. It advances entrepreneurship research by investigating deep assumptions underlying the formulation of entrepreneurial intentions. It also responds to the need to understand the difference in the levels of entrepreneurial activity across countries

Antarctic pack ice algal distribution: Floe-scale spatial variability and predictability from physical parameters

©2017. Commonwealth of Australia. Antarctic pack ice serves as habitat for microalgae which contribute to Southern Ocean primary production and serve as important food source for pelagic herbivores. Ice algal biomass is highly patchy and remains severely undersampled by classical methods such as spatially restricted ice coring surveys. Here we provide an unprecedented view of ice algal biomass distribution, mapped (as chlorophyll a) in a 100 m by 100 m area of a Weddell Sea pack ice floe, using under-ice irradiance measurements taken with an instrumented remotely operated vehicle. We identified significant correlations (p &lt; 0.001) between algal biomass and concomitant in situ surface measurements of snow depth, ice thickness, and estimated sea ice freeboard levels using a statistical model. The model's explanatory power (r2 = 0.30) indicates that these parameters alone may provide a first basis for spatial prediction of ice algal biomass, but parameterization of additional determinants is needed to inform more robust upscaling efforts