R. Thomas, T. Mount, R. Zimmerman, W. Schulze, R. Schuler, L. Chapman
{"title":"Testing the effects of price responsive demand on uniform price and soft-cap electricity auctions","authors":"R. Thomas, T. Mount, R. Zimmerman, W. Schulze, R. Schuler, L. Chapman","doi":"10.1109/HICSS.2002.993958","DOIUrl":null,"url":null,"abstract":"Testing auction mechanisms experimentally in a controlled environment provides an inexpensive means for evaluating their relative merits. This paper describes a framework for testing the efficacy of a price-responsive load on a uniform-price last-accepted offer and a soft-cap market. Experimental evidence to date, based on uniform-price market testing has shown an ability of price-responsive load to mitigate high volatility and average price. The paper addresses a process to validate these results as well as our hypothesis that price-responsive load mitigates high soft-cap market price behavior, such as that observed in California.","PeriodicalId":366006,"journal":{"name":"Proceedings of the 35th Annual Hawaii International Conference on System Sciences","volume":"16 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2002-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"13","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Proceedings of the 35th Annual Hawaii International Conference on System Sciences","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/HICSS.2002.993958","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 13
Abstract
Testing auction mechanisms experimentally in a controlled environment provides an inexpensive means for evaluating their relative merits. This paper describes a framework for testing the efficacy of a price-responsive load on a uniform-price last-accepted offer and a soft-cap market. Experimental evidence to date, based on uniform-price market testing has shown an ability of price-responsive load to mitigate high volatility and average price. The paper addresses a process to validate these results as well as our hypothesis that price-responsive load mitigates high soft-cap market price behavior, such as that observed in California.
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