Designing electricity auctions
نویسندگان
چکیده
منابع مشابه
Electricity markets: Designing auctions where suppliers have uncertain costs.∗
We analyze how market design influences the bidding behavior in multiunit procurement auctions where suppliers have uncertain costs and are uncertain about the availability of production units, as in wholesale electricity markets. We find that the competitiveness of market outcomes improves with increased market transparency. We identify circumstances where the auctioneer prefers uniform to dis...
متن کاملDesigning electricity transmission auctions: an introduction to the relevant literature
The UK has ambitious plans for exploiting offshore wind for electricity production in order to meet its challenging target under the EU Renewable Energy Directive. This could involve investing up to £20bn in transmission assets to bring electricity ashore. An investment of this magnitude calls for an efficient mechanism to determine which projects get financed and ensuring that only those proje...
متن کاملEquilibrium Analysis of Electricity Auctions
This paper considers an electricity spot market consisting of a network, a set of producers located in nodes of the network, and a central agent. Production is organized by means of an auction. Once firms simultaneously bid cost functions, the central agent decides the quantity each firm produces and the flows through the network lines. The purpose of the central agent is to minimize the overal...
متن کاملOptimal bid strategies for electricity auctions
This work deals with strategy optimization for electricity producers. We consider two types of auctions used to maintain the real–time ballance for production and consumption of electricity. For both auction types, we calculate the market equilibrium and discuss its properties.
متن کاملAn equilibrium model for electricity auctions
This work discusses the process of price formation for electrical energy within an auction–like trading environment. Calculating optimal bid strategies of power producers by equilibrium arguments, we obtain the corresponding electricity price and estimate its tail behavior.
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The RAND Journal of Economics
سال: 2006
ISSN: 0741-6261,1756-2171
DOI: 10.1111/j.1756-2171.2006.tb00002.x