Price Spikes in Electricity Markets: A Strategic Perspective

This paper aims to analyze the issue of price spikes in electricity markets through the lens of noncooperative game theory. The case we consider is Australia’s long established National Electricity Market (NEM). Specifically, we adapt von der Fehr and Harbord’s multi-unit auction model to settings that more closely reflect the structure of the NEM, showing that price spikes can be related to a specifiable threshold in demand.

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Year of publication:	2010-12
Authors:	Mullins, Joseph ; Wagner, Liam ; Foster, John
Institutions:	Energy Economics and Management Group, School of Economics
Subject:	Electricity Markets \| Spot Price Behaviour \| Non-Cooperative Game Theory

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Extent:	application/pdf
Series:	Energy Economics and Management Group Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 05
Classification:	C72 - Noncooperative Games ; Q40 - Energy. General ; q47
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008765001