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The Case for a Discriminatory Pricing Rule in Competitive Electricity Pools

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  • Ahmed Anwar

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Abstract

We present a multi-unit common value auction model with capacity constraints which ensure the participants face a residual market. We show that a discriminatory auction performs better than a uniform one when such constraints are present. We then look at a more explicit model of electricity pools and show that the preferred uniform pricing rule can lead to equilibria that are even worse than the basic model suggests. We show that a discriminatory auction would lead to relatively more competitive prices.

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Bibliographic Info

Paper provided by Edinburgh School of Economics, University of Edinburgh in its series ESE Discussion Papers with number 39.

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Length: 36
Date of creation: Apr 2004
Date of revision:
Handle: RePEc:edn:esedps:39

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Keywords: Electricity Pool; Multi-Unit Auction;

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Cited by:
  1. Talat S. Genc & Stanley S. Reynolds, 2010. "Supply Function Equilibria with Capacity Constraints and Pivotal Suppliers," Working Papers 1007, University of Guelph, Department of Economics and Finance.

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