Auctions in the electricity market : bidding when production capacity is constrained
著者
書誌事項
Auctions in the electricity market : bidding when production capacity is constrained
（Lecture notes in economics and mathematical systems, 617）
Springer, c2009
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注記
Originally presented as the author's thesis (doctoral)--Humboldt-Universität zu Berlin, 2008
Includes bibliographical references (p. 209-212) and index
内容説明・目次
内容説明
Electricity is an essential commodity traded at power exchanges. Its price is very volatile within a day and over the year. This raises questions about the efficiency of the trading rules. The author develops a non-cooperative auction model analyzing the bidding behavior of producers at power exchanges. Producers are limited by the production capacity of their power plants. Production costs are affiliated. This allows for independence or positive correlation. The author analyzes and compares a uniform-price, a discriminatory, and a generalized second-price auction. Optimal bids, cost efficiency, profits, and consumer prices are examined. A simple probability density function of affiliated production costs is given and used for examples. Numerical results are presented. The results of the analysis can help improving the bidding strategies of producers, selecting the best auction type at power exchanges or detecting price manipulations.
目次
Literature Review.- Model.- Results.- Conclusion.
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