Pricing in the California Power Exchange Electricity Market: Should California Switch from Uniform Pricing to Pay-as-Bid Pricing?

Alfred Kahn, Peter Cramton, Robert Porter and Richard D. Tabors ()

Papers of Peter Cramton from University of Maryland, Department of Economics - Peter Cramton

Abstract: Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial relief from soaring prices is simply mistaken. The immediate consequence of its introduction would be a radical change in bidding behavior that would introduce new inefficiencies, weaken competition in new generation, and impede expansion of capacity.

Keywords: Auctions; Electricity Auctions; Multiple Item Auctions (search for similar items in EconPapers)
JEL-codes: D44 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2001-01-27, Revised 2001-01-27
New Economics Papers: this item is included in nep-ene, nep-mic, nep-reg and nep-res
Note: Working Paper
References: Add references at CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
https://www.cramton.umd.edu/papers2000-2004/kahn-c ... -report-to-calpx.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pcc:pccumd:01calpx

Access Statistics for this paper

More papers in Papers of Peter Cramton from University of Maryland, Department of Economics - Peter Cramton Economics Department, University of Maryland, College Park, MD 20742-7211.
Bibliographic data for series maintained by Peter Cramton ().