Virtual Power Plant Auctions
Lawrence M. Ausubel () and
Peter Cramton ()
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Lawrence M. Ausubel: Economics Department, University of Maryland, http://www.econ.umd.edu
Papers of Peter Cramton from University of Maryland, Department of Economics - Peter Cramton
Since their advent in 2001, virtual power plant (VPP) auctions have been implemented widely. In this paper, we describe the simultaneous ascending-clock auction format that has been used for virtually all VPP auctions to date, elaborating on other design choices that most VPP auctions have had in common as well as discussing a few aspects that have varied significantly among VPP auctions. We then evaluate the various objectives of regulators in requiring VPP auctions, concluding that the auctions have been effective devices for facilitating new entry into electricity markets and for developing wholesale power markets.
Keywords: Auctions; electricity auctions; market design; virtual power plant auctions; clock auction; combinatorial auction (search for similar items in EconPapers)
JEL-codes: D44 C78 L96 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2009, Revised 2009
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Published in Utilities Policy, 18, 201-208, 2010
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Journal Article: Virtual power plant auctions (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pcc:pccumd:09vpp
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