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Two prices fix all? : on the robustness of a German bidding zone split
Zinke, Jonas - 2023
As redispatch costs and their associated distributional impacts continue to rise, the discussion on reconfiguring bidding zones in European power markets persists. However, determining an appropriate bidding zone configuration is a non-trivial task, as it must prove beneficial under varying...
Persistent link: https://www.econbiz.de/10014485600
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The role of expectations for market design : on structural regulatory uncertainty in electricity markets
Ambrosius, Mirjam; Egerer, Jonas; Grimm, Veronika; … - 2019
Persistent link: https://www.econbiz.de/10012703106
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Auction design for a strategic reserve market for generation adequacy : on the incentives under different auction scoring rules
Brunekreeft, Gert; Meyer, Roland; Rammerstorfer, Margarethe - 2013
How should we select winning bids of generation units for strategic reserves that consist of capacity bids and energy bids? In this paper, we analyze two selecting mechanisms (scoring rules): "simultaneous" and "sequential". In case of a simultaneous scoring rule, capacity and energy bids are...
Persistent link: https://www.econbiz.de/10010423667
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An auction story : how simple bids struggle with uncertainty
Richstein, Jörn C.; Lorenz, Casimir; Neuhoff, Karsten - 2018
Short-term electricity markets are key to an efficient production by generation units. We develop a two-period model to assess different bidding formats to determine for each bidding format the optimal bidding strategy of competitive generators facing price-uncertainty. We compare the results...
Persistent link: https://www.econbiz.de/10011916928
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Institutional and macroeconomic stability mediate the effect of auctions on renewable energy capacity
Mac Clay, Pablo; Börner, Jan; Sellare, Jorge Luis - 2022
Decarbonizing the global energy matrix through investments in renewable energy (RE) is considered a pathway to mitigate the effects of global climate change. Auctions have become an increasingly popular policy instrument for this purpose. In the last few years, auctions have been rapidly adopted...
Persistent link: https://www.econbiz.de/10013465383
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Market design, bidding rules, and long memory in electricity prices
Sapio, Sandro - 2005
In uniform price, sealed-bid day-ahead electricity auctions, the market price is set at the intersection between aggregate demand and supply functions built by a market operator. Each day, just one agent - the marginal generator - owns the market-clearing plant. Day-ahead auctions are moreover...
Persistent link: https://www.econbiz.de/10010328513
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Electricity markets : designing auctions where suppliers have uncertain costs
Holmberg, Pär; Wolak, Frank A. - 2015
We analyse how the market design influences the bidding behaviour in multi-unit auctions, such as wholesale electricity markets. It is shown that competition improves for increased market transparency and we identify circumstances where the auctioneer prefers uniform to discriminatory pricing....
Persistent link: https://www.econbiz.de/10011410462
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Auction performance on wholesale electricity markets in the presence of transmission constraints and transmission costs
Blazquez de Paz, Mario - 2015 - This version: December 15, 2015
auction formats on suppliers' strategies in the presence of transmission constraints and transmission costs is still very … limited. In this paper, I analyze the performance of uniform and discriminatory price auctions in the presence of transmission … constraints and transmission costs. When the transmission capacity is binding, the discriminatory price auction could outperform …
Persistent link: https://www.econbiz.de/10011404744
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Electricity Markets : Designing Auctions Where Suppliers Have Uncertain Costs
Holmberg, Par - 2016
We analyze how market design influences the bidding behavior in multi-unit procurement auctions where suppliers have uncertain costs and are uncertain about the availability of production units, as in wholesale electricity markets. We find that the competitiveness of market outcomes improves...
Persistent link: https://www.econbiz.de/10013002591
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Electricity Markets : Designing Auctions Where Suppliers Have Uncertain Costs
Holmberg, Par - 2016
We analyse how the market design influences the bidding behavior in multi-unit auctions, such as wholesale electricity markets. It is shown that competition improves for increased market transparency and we identify circumstances where the auctioneer prefers uniform to discriminatory pricing. We...
Persistent link: https://www.econbiz.de/10012996150