Resolving the resource adequacy problem has been usually entrusted to the imposition of some kind of long-term capacity requirements or to forward markets. The Operating Reserve Demand Curve (ORDC), which is linked to short-term market conditions and does not require central planning, has been...

The purpose of the present paper is to explore the existing literature on auctions in the energy markets, and to investigate whether the most recent developments in the auction literature can help us to identify issues related with market power, collusion, efficiency and consumer welfare, all of...