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| Author: | Denton, M.J. Rassenti, S.J. Smith, V.L. |
| Title: | Spot market mechanism design and competivity issues in electric power |
| Journal: | Journal of Economic Behavior and Organization
2001 : APR, VOL. 44:4, p. 435-453 |
| Index terms: | COMPETITIVENESS ELECTRICITY INDUSTRY |
| Freeterms: | MARKET POWER |
| Language: | eng |
| Abstract: | The performance of a sealed bid-offer and an open display real time uniform price double auction in a three-node network and compared in terms of efficiency, price competivity and the distribution of surplus over a demand cycle. The authors also compare three versus six independent generation companies who own the same aggregate portfolio assets. The environment provides a stressful market for wholesale buyers on-peak (the competitive price is above resale value) and for baseload generator generator units off-peak (the competitive price is less than cost). |
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