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.
Market Power in California: Misunderstanding the Opportunities
โ 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
No coin nor oath required. For personal study only.
๐ SIMILAR VOLUMES
## 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
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