Title :
Self-regulating markets for electricity: letting customers into the game
Author :
Schuler, Richard E.
Author_Institution :
Cornell Univ., Ithaca, NY, USA
Abstract :
This article presents an analytic model of electricity supply and demand, developed to understand which components might be solved in theory by markets, and which would have to rely upon regulatory oversight. Three demand-side market structures were evaluated: (1) fixed price (FP), (2) a demand response feature (DRP) and (3) real time pricing (RTP). Experimental results show that RTP leads to a redistribution of market power with great market efficiency.
Keywords :
power markets; pricing; supply and demand; demand response feature; electricity market; electricity supply and demand; fixed price; real time pricing; self-regulating market; Costs; Credit cards; Electricity supply industry; Environmental economics; Home computing; Insurance; Medical services; Optimized production technology; Resistance heating; Wires;
Conference_Titel :
Power Systems Conference and Exposition, 2004. IEEE PES
Print_ISBN :
0-7803-8718-X
DOI :
10.1109/PSCE.2004.1397586
