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 … as the number of steps increases, reconciling the apparently very disparate approaches to modelling electricity markets …

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 … as the number of steps increases, reconciling the apparently very disparate approaches to modelling electricity markets …

Given the agreed urgency of decarbonizing electricity and the need to guide decentralized private decisions, an …-even carbon price for mature zerocarbon electricity investments. It appears an attractive alternative given the difficulty of … justifies combining a carbon price floor with suitable long-term contracts for electricity investments. …