Electricity Market Design: The Good, the Bad, and the Ugly
Electricity Market Design: The Good, the Bad, and the Ugly
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Publication or External Link
Date
2003-01
Authors
Cramton, Peter
Advisor
Citation
"Electricity Market Design: The Good, the Bad, and the Ugly," Proceedings of the Hawaii International Conference on System Sciences, January, 2003.
DRUM DOI
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.