A Study of Central Auction Based Wholesale Electricity Markets

Sofia Ceppi, Nicola Gatti

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

The deregulation of electricity markets produced significant economic benefits, reducing prices to customers and opening several opportunities for new actors, e.g., new generators and distributors. A prominent scientific and technological challenge is the automation of such markets. In particular, we focus our attention on wholesale electricity markets based on a central auction. In these markets, generators sell electricity by means of a central auction to a public authority. Instead, the distribution of electricity to customers takes part in retail markets. The main works presented in the literature model wholesale markets as oligopolies, neglecting thus the specific auction mechanism. In this paper, we enrich these models by introducing an auction mechanism shaped on that used in the Italian wholesale electricity market, we solve the winner determination problem, and we preliminarily study the problem of searching for equilibria.
Original languageEnglish
Title of host publicationAgent-Mediated Electronic Commerce. Designing Trading Strategies and Mechanisms for Electronic Markets
Subtitle of host publicationAAMAS Workshop, AMEC 2009, Budapest, Hungary, May 12, 2009, and IJCAI Workshop, TADA 2009, Pasadena, CA, USA, July 13, 2009, Selected and Revised Papers
EditorsEsther David, Enrico Gerding, David Sarne, Onn Shehory
PublisherSpringer Berlin Heidelberg
Pages1-14
Number of pages14
ISBN (Electronic)978-3-642-15117-0
ISBN (Print)978-3-642-15116-3
DOIs
Publication statusPublished - 2010

Publication series

NameLecture Notes in Business Information Processing
PublisherSpringer Berlin Heidelberg
Volume59
ISSN (Print)1865-1348

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