An ACE wholesale electricity market frameworkwith bilateral trading

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In this paper, an agent-based simulation model for a hybrid power market structure is presented. A bilateral transaction mechanism is combined with auniform-pricing auction settlement in order to isolate the impact of medium-termbilateral contracts on market power and spot prices in a competitive wholesale market setting. First we describe the negotiation method for bilateral trading of energyand then introduce a new approach for bidding in the DA market based on the loadduration curve. We find that, despite the conventional concerns, the foreclosure effect produced by the bilateral agreement between a generation and a retail businesswill not necessarily lead to higher prices, and will be manifested only according tothe specific market characteristics.
Lingua originaleEnglish
Titolo della pubblicazione ospiteEmergent results of artificial economics
Numero di pagine12
Stato di pubblicazionePublished - 2011

Serie di pubblicazioni


All Science Journal Classification (ASJC) codes

  • Mathematics (miscellaneous)
  • Economics, Econometrics and Finance (miscellaneous)

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