Article ID Journal Published Year Pages File Type
1001146 Utilities Policy 2010 9 Pages PDF
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)
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