Modeling Electricity Auctions
نویسندگان
چکیده
منابع مشابه
Equilibrium 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...
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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.
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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.
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The purpose of this paper is to analyze the real–time trading of electricity. We address a model for an auction–like trading which captures key features of the real–world electricity markets. Our main result establishes that, under certain conditions, the expected total payment to the electricity producers is independent on particular auction type. This result is analogous to the revenue equiva...
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In a number of jurisdictions, deregulation has led to the establishment of auction spot markets for electricity supply. Short run demand for electricity is almost totally inelastic, and in most situations economically significant amounts of electricity cannot be stored. During periods when demand is relatively high, suppliers with what, in other markets, would be regarded as a relatively small ...
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ژورنال
عنوان ژورنال: The Electricity Journal
سال: 2002
ISSN: 1040-6190
DOI: 10.1016/s1040-6190(02)00347-0