In electricity day-ahead markets organized as uniform price auction, a small reduction in supply in times of high demand can cause substantial increases in price. We use a unique data set of failures of generation capacity in the German-Austrian electricity market to investigate the relationship...

We analyze a drastic price increase in the German auction market for reserve power, which did not appear to be driven by increased costs. Studying the market structure and individual bidding strategies, we find evidence for collusive behavior in an environment with repeated auctions, pivotal...

Ensuring the security of stable, efficient, and reliable energy supplies has intensified the Interconnections among energy markets. Imbalances between supply and demand due to operational failures, congestions and other sources of risk faced by these connections can lead to a system that is...

In this work we are going to explore how to evaluate the cost risk related to the market-based ancillary services procurement by an electricity Transmission System Operator (TSO). Firstly the notion of Cost-at-Risk (CaR) is defined in the context of the dispatching market. Secondly, we are...