Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1001146 | Utilities Policy | 2010 | 9 Pages |
Abstract
We examine the economic consequences of a bid-based security-constrained centralized unit commitment paradigm based on three-part offers, which is the prevalent day-ahead market-clearing mechanism in restructured electricity markets in the United States. We then compare this approach with an energy-only auction with self-commitment (such as in Australia) addressing efficiency and pricing as well as the tradeoff between coordination losses and incentives to bid truthfully.
Related Topics
Physical Sciences and Engineering
Energy
Energy (General)
Authors
Ramteen Sioshansi, Shmuel Oren, Richard O’Neill,