Load-Following Forward Contracts

被引：2
|
作者：
Brown, David P. [1 ]
Sappington, David E. M. [2 ]
机构：
[1] Univ Alberta, Dept Econ, Edmonton, AB T6G 2H4, Canada
[2] Univ Florida, Dept Econ, Gainesville, FL 32611 USA
来源：
ENERGY JOURNAL | 2023年 / 44卷 / 03期
关键词：
Load-following forward contracts; Swap contracts; Electricity sector; ELECTRICITY MARKETS; COMPETITION; EFFICIENCY; OLIGOPOLY;
D O I：
10.5547/01956574.44.2.dbro
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Suppliers and large buyers of electricity often sign load-following forward contracts (LFFCs). A LFFC obligates an electricity supplier to deliver at a pre-specified unit price a fraction of the buyer's ultimate demand for electricity. We show that relative to more standard ("swap") forward contracts, LFFCs can reduce the variation in the wholesale price of electricity. However, LFFCs also can increase the expected wholesale price and thereby reduce expected consumer surplus and total surplus.
引用
收藏
页码：187 / 222
页数：36
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