producers send less detailed cost information to the operator of the day-ahead market. Ideally centralized electricity markets … electricity markets, while most of Europe has decentralized wholesale electricity markets. The main problem with centralized … markets in US is that they do not provide intra-day prices which can be used to continuously up-date the dispatch when the …

We analyse how the market design influences the bidding behaviour in multi-unit auctions, such as wholesale electricity …

in a supplier.s cost sometimes result in a major change in the market price. In wholesale electricity markets, we predict … that the bid price of the most expensive production unit can change by 1-10% due to price instability. The price … instability is reduced when suppliers have more steps in their supply functions for a given production technology. In the limit …