marginal cost of suppliers. The leading example is the electricity industry, where there is a capacity market clearing before … the spot market. -- capacity market ; procurement auction ; electricity market ; competitive equilibrium …

on electricity markets. We extend the model of Joskow and Tirole (2007) to address the interconnected nature of the PJM …

electricity demand, to meet supply adequacy problems. In this paper, we analyze what it requires to have a competitive auction … number of bidders are not enough warranty for fierce competition. Electricity forward-contract auctions may be uncompetitive …

One of the main elements of the current reform of electricity trading in the UK is the change from a uniform price …