๐”– Bobbio Scriptorium
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Market Power in California: Misunderstanding the Opportunities

โœ Scribed by Robert J. Michaels; Nguyen T. Quan


Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
301 KB
Volume
15
Category
Article
ISSN
1040-6190

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๐Ÿ“œ SIMILAR VOLUMES


Games or Opportunities: Bidding in the C
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In California, generators bid hourly supply schedules with up to 15 segments in many markets, amounting to potential price decisions over a day running into the thousands. In this environment, analyses of market power are so complex as to be, for all practical purposes, impossible to perform.

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## SMK," July 2000) assessed the first year of experience with ancillary service (AS) auctions in the California markets, coming to the conclusion that "the evidence suggests that the price volatility in the AS markets resulted from a withholding of capacity by suppliers who were exercising market

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The price elasticity of demand in the California PX is significantly greater than what theory might predict. A structurally induced elasticity in the day-ahead market limits the degree to which a supplier can profitably withhold within that market. ## Robert L. Earle he responsiveness of demand to