Pay-as-bid auction & uniform price auction in electricity markets
This paper suggests that if the commodity space and price on the market non-convexity factors are expanded, the uniform price auction and pay-as-bid auction would be equivalent. This paper also demonstrates that the 'uplift' payment is originated from the generalized 'startup' co...
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| Hauptverfasser: | , |
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| Format: | Tagungsbericht |
| Sprache: | eng |
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| Online-Zugang: | Volltext |
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| Zusammenfassung: | This paper suggests that if the commodity space and price on the market non-convexity factors are expanded, the uniform price auction and pay-as-bid auction would be equivalent. This paper also demonstrates that the 'uplift' payment is originated from the generalized 'startup' cost which is based on a special commodity (i.e. the unit commitment decision). Numerical examples are given to illustrate the above analysis. (6 pages) |
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| DOI: | 10.1049/cp:20061990 |