Electricity Market Design: The Good, the Bad, and the Ugly
Abstract
This paper examines principles of market design as applied to electricity markets. I illustrate the principles with examples of both good and bad designs. I discuss one of the main design challenges—dealing with market power. I then discuss FERC’s choice of a standard market design.
Suggested Citation
Peter Cramton. "Electricity Market Design: The Good, the Bad, and the Ugly" Proceedings of the Hawaii International Conference on System Sciences. , 2003.
Available at: http://works.bepress.com/cramton/48
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