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Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:51:10am WEST

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Daily Overview

Session

Electricity Markets and Regulation: The Case of Renewables
Location: B010
Session Chair: Xingchi Shen, Shanghai Jiao Tong University

Presentation 2

Bid Timing and Market Efficiency in the Energy Transition

Hunt Allcott¹, Luming Chen², Julia Park³

1: Stanford University and NBER; 2: University of Michigan; 3: Stanford University

Discussant: Ibrahim Abada (Grenoble Ecole de Management)

Abstract Utility-scale batteries play an increasingly active role in electricity markets by arbitraging energy across time, yet their efficiency depends critically on market design. This paper studies a prevalent feature of real-time electricity auctions: bid lead time, which requires batteries to commit bids in advance of dispatch. Using comprehensive 15-minute bidding and settlement data for all utility-scale batteries in ERCOT from 2018–2025, we document active dynamic bidding, rapid responses to price shocks, and the importance of recent price information for forecasting. We develop an equilibrium model of electricity markets with dynamic battery bidding and show that longer bid lead times substantially reduce operational efficiency and profits, and dampen complementarity between batteries and renewable energy. Allowing bids to depend on state of charge significantly mitigates these losses. Our results highlight bid lead time as a key determinant of battery performance and market outcomes.