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Application of auctions as a pricing mechanism for the interchange of electric power

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3 Author(s)
Post, D.L. ; Interstates Electric & Eng. Co. Inc., Sioux Center, IN, USA ; Coppinger, S.S. ; Sheble, G.B.

The expected move to a market-based electric power industry will significantly change electric utility operations. These changes will fundamentally alter the pricing of electric power. How this pricing will be accomplished is a key issue. Traditionally, embedded cost based methods have been used. Spot-pricing has received attention as a possible approach in a market-based electric power environment. Another market-based approach is the use of auctions. This paper presents the application of a sequential sealed-bid and sealed-offer auction to the pricing of electric power by using linear programming

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Power Systems, IEEE Transactions on  (Volume:10 ,  Issue: 3 )