Tools for assessment of transmission-constrained market power in electricity markets

评估电力市场中输电受限市场力量的工具

基本信息

批准号：
0801511
负责人：
Ross Baldick
金额：
$ 20万
依托单位：
University of Texas at Austin
依托单位国家：
美国
项目类别：
Standard Grant
财政年份：
2008
资助国家：
美国
起止时间：
2008-08-01 至 2011-07-31
项目状态：
已结题

来源：
https://www.nsf.gov/awardsearch/showAward?AWD_ID=0801511&HistoricalAwards=false
关键词：
Tools assessment transmission constrained market

项目摘要

The objective of this research is to develop better understanding of market power in electricity markets when there are tight supply conditions and when transmission limits bind. The approach involves the combination of fundamental economics principles with a new sensitivity analysis of the results of electricity market clearing to assess the incentives for a market participant to mark-up their prices in an electricity market. This approach directly addresses the determinants of market power and avoids ad hoc indices of market power.The intellectual merit of this approach stems from two factors. The first is that market power continues to be a problematic issue in restructured electricity markets, so that understanding and analyzing market power is an important topic. The second is that the approach begins with basic economics principles and combines them rigorously with analysis of the clearing of electricity markets to establish an index of market power. This strongly contrasts with existing ad hoc approaches to assessment of market power in the presence of transmission constraints. Such approaches utilize indices, such as the Herfindahl-Hirschman Index (HHI) that, at best, have only an indirect relationship with market power in the presence of transmission constraints.The broader impact of this project includes the integration of results into an existing graduate class on market that is taught at The University of Texas at Austin. Moreover, understanding and quantifying the structural drivers of market power in electricity markets enables a better approach to mitigating market power by market power monitors and regulatory agencies. Given that market power remains pervasive in electricity markets, it is extremely important to correctly identify and diagnose market power in electricity markets.

本研究的目的是在供应紧张和输电限制受到约束时更好地了解电力市场的市场力量。该方法涉及将基本经济学原理与电力市场清算结果的新敏感性分析相结合，以评估市场参与者在电力市场上提高价格的动机。这种方法直接解决了市场力量的决定因素，并避免了市场力量的临时指数。这种方法的智力优点源于两个因素。首先，市场力仍然是重组电力市场中的一个难题，因此理解和分析市场力是一个重要课题。二是从基本经济学原理出发，与电力市场出清分析严格结合，建立市场势力指数。这与现有的在存在传输限制的情况下评估市场力量的临时方法形成鲜明对比。此类方法利用赫芬达尔-赫希曼指数（HHI）等指数，在存在传输限制的情况下，该指数充其量仅与市场力量有间接关系。该项目的更广泛影响包括将结果整合到现有的毕业生中德克萨斯大学奥斯汀分校教授的市场课程。此外，了解和量化电力市场中市场力量的结构性驱动因素可以让市场力量监管机构和监管机构更好地减轻市场力量。鉴于市场力在电力市场中仍然普遍存在，正确识别和诊断电力市场中的市场力极其重要。