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Demande active sur les marchés électriques : une analyse expérimentale de l'efficacité du mécanisme de retrait de capacités demandées

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  • Abel Winn
  • Stephen Rassenti
  • Céline Jullien

Abstract

[eng] This paper presents an experimental investigation of the effects of a demand-response mechanism on the efficiency of competitive wholesale electric-power markets. Under most electricity deregulation , attention has initially and exclusively been placed on the supply side of the industry. Demand has been assumed to be largely inelastic and therefore not calling for specific incentive mechanisms. As a consequence, many power markets turned out to be organized using one-sided auctions – with diverse and sometimes embarrassing market performances a decade after the first deregulation. This suggests that the foundations of power-market designs should be re-examined. Many regulators are now integrating the demand side of the industry into their power markets , searching for efficient demand-response mechanisms. Earlier experimental studies have shown the significance of demand-side bidding in electric-power markets. Our article presents a series of experiments designed to test a simple demand-response mechanism in the form of demand withdrawals, as proposed by the Australian authorities. The results show that although the mechanism leads to significant reductions in market prices in peak-demand periods, it fosters gaming strategies that suggest it might perform poorly in the field. [fre] Cet article traite de l’effet des mécanismes de réponse de la demande sur l’efficacité des marchés de gros d’électricité. Dans le cadre des réformes de libéralisation des marchés de l’énergie, l’attention a initialement porté sur le seul coté offre du marché, supposant implicitement que l’inélasticité de la demande d’électricité n’appelait pas à la formulation de mécanisme incitatif. En conséquence, ce sont des mécanismes d’enchère d’offre de vente qui ont vu le jour, conduisant plus de dix ans après les premières dérégulations à des performances de marché parfois très médiocres. Les (re-) réformes actuelles comptent en partie sur la réactivité de la demande du marché pour améliorer l’efficacité. Des travaux récents en économie expérimentale ont montré l’effet essentiel de la participation de la demande. Dans cet article nous présentons une série d’expériences visant à tester un mécanisme simple de réponse de la demande, sous forme de retrait de capacités, tel qu’il est proposé par les autorités australiennes. Les résultats montrent que si un tel mécanisme conduit à une réduction significative des prix de marché en période de forte demande, il génère pour autant des comportements stratégiques qui suggèrent de faibles performances du mécanisme une fois transposé dans la réalité.

Suggested Citation

  • Abel Winn & Stephen Rassenti & Céline Jullien, 2008. "Demande active sur les marchés électriques : une analyse expérimentale de l'efficacité du mécanisme de retrait de capacités demandées," Économie et Prévision, Programme National Persée, vol. 182(1), pages 61-76.
  • Handle: RePEc:prs:ecoprv:ecop_0249-4744_2008_num_182_1_7752
    Note: DOI:10.3406/ecop.2008.7752
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    References listed on IDEAS

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    1. Davis, Douglas D. & Holt, Charles A., 2008. "The Exercise of Market Power in Laboratory Experiments," Handbook of Experimental Economics Results, Elsevier.
    2. Milgrom,Paul, 2004. "Putting Auction Theory to Work," Cambridge Books, Cambridge University Press, number 9780521536721, December.
    3. repec:cto:journl:v:21:y:2002:i:3:p:515-544 is not listed on IDEAS
    4. Green, Richard J & Newbery, David M, 1992. "Competition in the British Electricity Spot Market," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 929-953, October.
    5. Abbink, Klaus & Brandts, Jordi & McDaniel, Tanga, 2003. "Asymmetric Demand Information in Uniform and Discriminatory Call Auctions: An Experimental Analysis Motivated by Electricity Markets," Journal of Regulatory Economics, Springer, vol. 23(2), pages 125-144, March.
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