Measuring Efficiency in Wholesale Electricity Markets

Nicholas S. Bowden

The Electricity Journal, 2009, vol. 22, issue 5, 34-38

Abstract: The mechanisms of the bid-based economic dispatch and market power mitigation algorithms which result in the market clearing price epitomize the complexity of the new regulatory regime. The augmented Lerner Index presented here offers a method to objectively assess the efficiency of the new structure.

Date: 2009
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