Hadley, S.; Hirst, E. - 2009
clearing prices are determined based on marginal costs. The authors used this model, ORCED, to evaluate the market price of … price to 3.02 {cents}/kWh as the competitive price. If regulators use transition charges and price caps, then customers in … the Pacific Northwest need not be penalized by the change to marginal-cost pricing. Customer responses to price changes …