Default Service Auctions
In February 2002, New Jersey completed a market process whereby the utilities were able to purchase one-year forward contracts to ensure energy needs for their default service customers for a one-year period. The auction was the first application of the simultaneous descending clock auction to power procurement. We chose this auction format to fit the specific needs of the New Jersey Electric Discount and Energy Competition Act and the New Jersey Board of Public Utilities mandate for a competitive bidding process to procure the electricity to meet the electric utilities' default service obligations.
When requesting a correction, please mention this item's handle: RePEc:kap:regeco:v:26:y:2004:i:2:p:201-229. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.