market. -- Electricity market ; balancing power ; uniform-price auction ; pay-as-bid auction …From auction theory we know that multi-unit, pay-as-bid auctions in general lead to bid shading and thus to an … inefficient allocation. This result is supported by historical data from the German market for balancing power, which show that …

case for possible application to the electricity market and discusses the implications of the results. In the literature … and demand response in the power market and their relationships. It enhances demand response in the electricity market …The increasing use of demand-side management as a tool to reliably meet electricity demand at peak time has stimulated …