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Forward contracts for the operation of an electricity industry under spot pricing

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3 Author(s)
R. J. Kaye ; New South Wales Univ., Kensington, NSW, Australia ; H. R. Outhred ; C. H. Bannister

A study is reported of the use of forward contracts as risk instruments for electricity industries operating under spot pricing. Forward contracts involve financial transactions or commitments which relate to a physical trade at a later time instance. Price setting and appropriate participant responses are discussed. Simulation studies are used to demonstrate that forward contracts offer participants an opportunity to reduce their risk exposure without removing the incentive to respond to higher spot prices

Published in:

IEEE Transactions on Power Systems  (Volume:5 ,  Issue: 1 )