Pricing in the California Power Exchange Electricity Market: Should California Switch from Uniform Pricing to Pay-as-Bid Pricing?
AbstractAny belief that a shift from uniform to as-bid pricing would provide power purchasers substantial relief from soaring prices is simply mistaken. The immediate consequence of its introduction would be a radical change in bidding behavior that would introduce new inefficiencies, weaken competition in new generation, and impede expansion of capacity.
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Bibliographic InfoPaper provided by University of Maryland, Department of Economics - Peter Cramton in its series Papers of Peter Cramton with number 01calpx.
Length: 20 pages
Date of creation: 27 Jan 2001
Date of revision: 27 Jan 2001
Note: Working Paper
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Auctions; Electricity Auctions; Multiple Item Auctions;
Find related papers by JEL classification:
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
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- NEP-ALL-2002-04-15 (All new papers)
- NEP-ENE-2002-04-15 (Energy Economics)
- NEP-MIC-2002-04-15 (Microeconomics)
- NEP-REG-2002-04-15 (Regulation)
- NEP-RES-2002-04-15 (Resource Economics)
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