Why have PJM capacity markets decoupled from actual capacity bids?

被引：2

作者：

McCullough R. ^{[1
]}

Shierman E. ^{[1
]}

Weisdorf M. ^{[1
]}

Howard B.M. ^{[1
]}

机构：

[1] McCullough Research, Portland, 97202, OR

来源：

Electricity Journal | 2019年 / 32卷 / 09期

关键词：

Capacity auctions; Deregulation; Hirschfield-Herfindahl Index (HHI); Market clearing prices; Market power; Minimum offer price rule (MOPR); PJM; Reliability Pricing Model (RPM);

D O I：

10.1016/j.tej.2019.106640

中图分类号：

学科分类号：

摘要：

We analyze PJM's Reliability Pricing Model auction in the context of ongoing reform proposals that seek to address the perception that state subsidies for carbon free generation are depressing capacity prices. We show how PJM's clearing algorithm deviates from economic theory, and conclude that in fact the capacity market construct has been inflating prices rather than depressing them. © 2019

引用

共 50 条

[1] Capacity Markets in PJM
Bowring, Joseph
ECONOMICS OF ENERGY & ENVIRONMENTAL POLICY, 2013, 2 (02) : 47 - 64
[2] Why do we need capacity markets?
Lyzwa, Wojciech
Olek, Blazej
Wierzbowski, Michal
Mielczarski, Wladyslaw
2014 11TH INTERNATIONAL CONFERENCE ON THE EUROPEAN ENERGY MARKET (EEM), 2014,
[3] Demand response and energy efficiency in the capacity resource procurement: Case studies of forward capacity markets in ISO New England, PJM and Great Britain
Liu, Yingqi
ENERGY POLICY, 2017, 100 : 271 - 282
[4] PJM Capacity Market: Inputs from Resource Adequacy and Transmission Planning Studies
Bhavaraju, Murty P.
2012 IEEE POWER AND ENERGY SOCIETY GENERAL MEETING, 2012,
[5] WHY RECENT RESEARCHERS HAVE NOT ASSESSED THE CAPACITY OF NEUROPSYCHOLOGISTS TO DETECT MALINGERING
SCHMIDT, JP
PROFESSIONAL PSYCHOLOGY-RESEARCH AND PRACTICE, 1989, 20 (03) : 140 - 141
[6] Should electricity markets have a capacity requirement? If so, how should it be priced?
Electricity Journal, 1996, 9 (10): : 52 - 60
[7] Capacity remuneration mechanisms on European electricity markets-legal basis and actual implementation status
Pugl-Pichler, Christian
Tyma, Franz
Sussenbacher, Wilhelm
Blume-Werry, Eike
Todem, Christian
JOURNAL OF WORLD ENERGY LAW & BUSINESS, 2020, 13 (5-6): : 498 - 517
[8] Have Irish Sovereign Bonds Decoupled from the Euro Area Periphery, and Why?
Cronin, David
Dunne, Peter
McQuinn, Kieran
ECONOMIC AND SOCIAL REVIEW, 2019, 50 (03) : 529 - 556
[9] Why do patients with McArdle's disease have decreased exercise capacity?
Ruff, RL
NEUROLOGY, 1998, 50 (01) : 6 - 7
[10] Security of supply as a political bargaining issue: Why Germany opted against capacity markets
Gawel, Erik
Lehmann, Paul
Purkus, Alexandra
Soederholm, Patrik
Strunz, Sebastian
ENERGY RESEARCH & SOCIAL SCIENCE, 2022, 86

← 1 2 3 4 5 →