-ups of the derived equilibrium are compared to results for the SFE of a uniform-price auction. -- supply function equilibrium …. Demand by the auctioneer is uncertain as in the supply function equilibrium model. A closed form expression is derived …

In most wholesale electricity markets generators must submit step-function offers of supply to a uniform price auction …, and the market is cleared at the price of the most expensive offer needed to meet realised demand. Such markets can most … elegantly be modelled as the pure-strategy, Nash Equilibrium of continuous supply functions, in which each supplier has a unique …