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We describe a Vickrey-Clarke-Groves auction of supply and demand bidding in the face of market power and nonconcave benefits in which bidders are motivated to bid truthfully, and evaluate its use for power and gas pipeline auctions. The auction efficiently allocates resources if firms maximize...
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, though not necessarily in the same way, on existing energy networks, for example, electricity and natural gas grids, and …As infrastructures that connect the energy source with the energy use, energy networks constitute a crucial element of … national and global energy systems. They also play a key role in helping with balancing supply and demand, thus ensuring that …
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The interdependence of electricity and natural gas is becoming a major energy policy and regulatory issue in all … jurisdictions around the world. The increased role of gas fired plants in renewable-based electricity markets and the dependence on … gas imports make this issue particular striking for the European energy market. In this paper we provide a comprehensive …
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