Optimal bid strategies for electricity auctions (Q1395152)
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scientific article; zbMATH DE number 1940562
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| English | Optimal bid strategies for electricity auctions |
scientific article; zbMATH DE number 1940562 |
Statements
Optimal bid strategies for electricity auctions (English)
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26 June 2003
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The author considers the pay-as-bid and the system-marginal price auctions at the real-time markets. Two different procedures are derived for price settlement by calculating the market equilibrium which is based on the notion of the saturated installed capacity. The method incorporates the different production technologies, the uncertainty of the electricity demand and the risk aversion of power producers.
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electricity auction
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equilibrium
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0.8667212724685669
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0.821808397769928
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0.7998293042182922
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0.7931976914405823
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0.7916721701622009
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