Real-time Pricing in Power Markets: Who Gains?

Anette Boom*, Sebastian Schwenen

*Corresponding author af dette arbejde

Publikation: KonferencebidragPaperForskning

Abstrakt

We examine welfare effects of real-time pricing in electricity markets. Before stochastic energy demand is known, competitive retailers contract with final consumers who exogenously do not have real-time meters. After demand is realized, two electricity generators compete in a uniform price auction to satisfy demand from retailers acting on behalf of subscribed customers and from consumers with real-time meters. Increasing the number of consumers on real-time pricing does not always increase welfare since risk-averse consumers dislike uncertain and high prices arising through market power. In the Bertrand case, welfare is the same with all or no consumers on smart meters.
OriginalsprogEngelsk
Publikationsdato2018
Antal sider39
StatusUdgivet - 2018
BegivenhedVII International Academic Symposium: Smart Energy Systems from a New Energy Policy Approach - Parc Científic de Barcelona, Barcelona, Spanien
Varighed: 5 feb. 20195 feb. 2019
Konferencens nummer: 7
https://ieb.ub.edu/en/event/vii-international-academic-symposium/

Konference

KonferenceVII International Academic Symposium
Nummer7
LokationParc Científic de Barcelona
LandSpanien
ByBarcelona
Periode05/02/201905/02/2019
Internetadresse

Bibliografisk note

CBS Bibliotek har ikke adgang til materialet

Emneord

  • Electricity
  • Real-time pricing
  • Market power
  • Efficiency

Citationsformater

Boom, A., & Schwenen, S. (2018). Real-time Pricing in Power Markets: Who Gains?. Paper præsenteret på VII International Academic Symposium, Barcelona, Spanien.