An equilibrium model for electricity auctions
Tom 30 / 2003
Applicationes Mathematicae 30 (2003), 243-249
MSC: 91B26, 91B52, 91B70.
DOI: 10.4064/am30-2-7
Streszczenie
This work discusses the process of price formation for electrical energy within an auction-like trading environment. Calculating optimal bid strategies of power producers by equilibrium arguments, we obtain the corresponding electricity price and estimate its tail behavior.
