By Topic

Wholesale marginal prices in competitive generation markets

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$33 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

2 Author(s)
I. J. Perez-Arriaga ; Nat. Electr. Regulatory Comm., Madrid, Spain ; C. Meseguer

Wholesale marginal electricity prices are being used in several actual competitive generation markets worldwide, both to remunerate generators and to charge consumption. These prices must account not only for energy, but also for guarantee of supply in the long and the short term. This paper: (a) provides a sound conceptual and quantitative foundation for wholesale pricing based on generation services, where any existing restrictions in operation or planning in real power markets are accounted for; (b) clearly establishes the relationship between short term marginal costs, long term marginal costs and optimal wholesale electricity prices; and (c) identifies the reasons for mismatches in cost recovery with marginal generation prices. The theoretical results are verified with a detailed realistic power system model

Published in:

IEEE Transactions on Power Systems  (Volume:12 ,  Issue: 2 )