IDEAS home Printed from https://ideas.repec.org/a/kap/regeco/v40y2011i1p41-61.html

Towards equilibrium offers in unit commitment auctions with nonconvex costs

Author

Listed:
  • Ramteen Sioshansi

  • Emma Nicholson

Abstract

No abstract is available for this item.

Suggested Citation

  • Ramteen Sioshansi & Emma Nicholson, 2011. "Towards equilibrium offers in unit commitment auctions with nonconvex costs," Journal of Regulatory Economics, Springer, vol. 40(1), pages 41-61, August.
    • Handle: RePEc:kap:regeco:v:40:y:2011:i:1:p:41-61
    DOI: 10.1007/s11149-011-9147-2
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11149-011-9147-2
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11149-011-9147-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Natalia Fabra & Nils‐Henrik Fehr & David Harbord, 2006. "Designing electricity auctions," RAND Journal of Economics, RAND Corporation, vol. 37(1), pages 23-46, March.
    2. Natalia Fabra & Nils-Henrik M. von der Fehr & David Harbord, 2006. "Designing Electricity Auctions," RAND Journal of Economics, The RAND Corporation, vol. 37(1), pages 23-46, Spring.
    3. Johnson, Raymond B. & Oren, Shmuel S. & Svoboda, Alva J., 1997. "Equity and efficiency of unit commitment in competitive electricity markets," Utilities Policy, Elsevier, vol. 6(1), pages 9-19, March.
    4. repec:aen:journl:1999v20-04-a04 is not listed on IDEAS
    5. O'Neill, Richard P. & Sotkiewicz, Paul M. & Hobbs, Benjamin F. & Rothkopf, Michael H. & Stewart, William R., 2005. "Efficient market-clearing prices in markets with nonconvexities," European Journal of Operational Research, Elsevier, vol. 164(1), pages 269-285, July.
    6. Ruff, Larry E., 1994. "Stop wheeling and start dealing: Resolving the transmission dilemma," The Electricity Journal, Elsevier, vol. 7(5), pages 24-43, June.
    7. Sioshansi, Ramteen & Oren, Shmuel & O'Neill, Richard, 2010. "Three-part auctions versus self-commitment in day-ahead electricity markets," Utilities Policy, Elsevier, vol. 18(4), pages 165-173, December.
    8. Chao, Hung-Po & Wilson, Robert, 2002. "Multi-dimensional Procurement Auctions for Power Reserves: Robust Incentive-Compatible Scoring and Settlement Rules," Journal of Regulatory Economics, Springer, vol. 22(2), pages 161-183, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jiang, Yuzhou & Sioshansi, Ramteen, 2024. "A computationally efficient approach to optimizing offers in centrally committed electricity markets," European Journal of Operational Research, Elsevier, vol. 317(1), pages 25-42.
    2. George Liberopoulos & Panagiotis Andrianesis, 2016. "Critical Review of Pricing Schemes in Markets with Non-Convex Costs," Operations Research, INFORMS, vol. 64(1), pages 17-31, February.
    3. Luciano de Castro & Shmuel Oren & Alvaro Riascos & Miguel Bernal, 2014. "Transition to Centralized Unit Commitment: An Econometric Analysis of Colombia�s Experience," Borradores de Economia 11932, Banco de la Republica.
    4. Holmberg, Pär & Tangerås, Thomas & Ahlqvist, Victor, 2018. "Central- versus Self-Dispatch in Electricity Markets," Working Paper Series 1257, Research Institute of Industrial Economics, revised 27 Mar 2019.
    5. repec:aen:journl:ej33-4-05 is not listed on IDEAS
    6. Richstein, Jörn C. & Lorenz, Casimir & Neuhoff, Karsten, 2020. "An auction story: How simple bids struggle with uncertainty," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 89, pages 1-1.
    7. Joseph E. Duggan Jr. & Ramteen Sioshansi, 2019. "Another Step Towards Equilibrium Offers in Unit Commitment Auctions with Nonconvex Costs: Multi-Firm Oligopolies," The Energy Journal, , vol. 40(6), pages 249-282, November.
    8. Eric L. Prentis, 2014. "Deregulation & Privatization: Texas Electric Power Market Evidence," Review of Business and Finance Studies, The Institute for Business and Finance Research, vol. 5(2), pages 117-126.
    9. Camelo, Sergio & Papavasiliou, Anthony & de Castro, Luciano & Riascos, Álvaro & Oren, Shmuel, 2018. "A structural model to evaluate the transition from self-commitment to centralized unit commitment," Energy Economics, Elsevier, vol. 75(C), pages 560-572.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:aen:journl:ej33-4-05 is not listed on IDEAS
    2. Holmberg, Pär & Tangerås, Thomas & Ahlqvist, Victor, 2018. "Central- versus Self-Dispatch in Electricity Markets," Working Paper Series 1257, Research Institute of Industrial Economics, revised 27 Mar 2019.
    3. George Liberopoulos & Panagiotis Andrianesis, 2016. "Critical Review of Pricing Schemes in Markets with Non-Convex Costs," Operations Research, INFORMS, vol. 64(1), pages 17-31, February.
    4. Just, Sebastian & Weber, Christoph, 2008. "Pricing of reserves: Valuing system reserve capacity against spot prices in electricity markets," Energy Economics, Elsevier, vol. 30(6), pages 3198-3221, November.
    5. Sebastian Just, 2011. "Appropriate contract durations in the German markets for on-line reserve capacity," Journal of Regulatory Economics, Springer, vol. 39(2), pages 194-220, April.
    6. Holmberg, Pär & Newbery, David & Ralph, Daniel, 2013. "Supply function equilibria: Step functions and continuous representations," Journal of Economic Theory, Elsevier, vol. 148(4), pages 1509-1551.
    7. Camelo, Sergio & Papavasiliou, Anthony & de Castro, Luciano & Riascos, Álvaro & Oren, Shmuel, 2018. "A structural model to evaluate the transition from self-commitment to centralized unit commitment," Energy Economics, Elsevier, vol. 75(C), pages 560-572.
    8. Crawford, Gregory S. & Crespo, Joseph & Tauchen, Helen, 2007. "Bidding asymmetries in multi-unit auctions: Implications of bid function equilibria in the British spot market for electricity," International Journal of Industrial Organization, Elsevier, vol. 25(6), pages 1233-1268, December.
    9. Llobet, Gerard & Fabra, Natalia, 2019. "Auctions with Unknown Capacities: Understanding Competition among Renewables," CEPR Discussion Papers 14060, C.E.P.R. Discussion Papers.
    10. Bajo-Buenestado, Raúl, 2017. "Welfare implications of capacity payments in a price-capped electricity sector: A case study of the Texas market (ERCOT)," Energy Economics, Elsevier, vol. 64(C), pages 272-285.
    11. Elberg, Christina & Kranz, Sebastian, 2013. "Capacity Mechanisms and Effects on Market Structure," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79811, Verein für Socialpolitik / German Economic Association.
    12. T. S. Genc, 2009. "Discriminatory Versus Uniform-Price Electricity Auctions with Supply Function Equilibrium," Journal of Optimization Theory and Applications, Springer, vol. 140(1), pages 9-31, January.
    13. Heikki Peura & Derek W. Bunn, 2015. "Dynamic Pricing of Peak Production," Operations Research, INFORMS, vol. 63(6), pages 1262-1279, December.
    14. Brown, David P., 2018. "The effect of subsidized entry on capacity auctions and the long-run resource adequacy of electricity markets," Energy Economics, Elsevier, vol. 70(C), pages 205-232.
    15. Willems, Bert & Pollitt, Michael & von der Fehr, Nils-Henrik & Banet, Catherine, 2022. "The European Wholesale Electricty Market: From Crisis to Net Zero," Other publications TiSEM 2f225964-853e-4d30-a46d-0, Tilburg University, School of Economics and Management.
    16. Petropoulos, Georgios & Willems, Bert, 2020. "Long-term transmission rights and dynamic efficiency," Energy Economics, Elsevier, vol. 88(C).
    17. Eiji Sawada, 2016. "Effect of electricity system reform on retail electricity price increases in Japan," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 5(1), pages 1-14, December.
    18. Brown, David P., 2018. "Capacity payment mechanisms and investment incentives in restructured electricity markets," Energy Economics, Elsevier, vol. 74(C), pages 131-142.
    19. Joseph Mullins & Liam Wagner & John Foster, 2010. "Price Spikes in Electricity Markets: A Strategic Perspective," Energy Economics and Management Group Working Papers 05, School of Economics, University of Queensland, Australia.
    20. Varawala, Lamia & Hesamzadeh, Mohammad Reza & Dán, György & Bunn, Derek & Rosellón, Juan, 2023. "A pricing mechanism to jointly mitigate market power and environmental externalities in electricity markets," Energy Economics, Elsevier, vol. 121(C).
    21. David P. Brown & Andrew Eckert & James Lin, 2018. "Information and transparency in wholesale electricity markets: evidence from Alberta," Journal of Regulatory Economics, Springer, vol. 54(3), pages 292-330, December.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:regeco:v:40:y:2011:i:1:p:41-61. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.