Sioshansi, Ramteen; Oren, Shmuel; O'Neill, Richard - In: Utilities Policy 18 (2010) 4, pp. 165-173
We examine the economic consequences of a bid-based security-constrained centralized unit commitment paradigm based on three-part offers, which is the prevalent day-ahead market-clearing mechanism in restructured electricity markets in the United States. We then compare this approach with an...