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, 01:52:53am WEST
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Daily Overview |
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Egg-Timer: Energy Markets and the Low-Carbon Transition Location: D-112 Session Chair: Yoonha Lee, Seoul National University | |
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Short-Run Market Power in Wholesale Electricity Markets: Evidence from ERCOT University of Maryland, College Park, United States of America This paper studies the short-run effects of wind energy integration on market power in wholesale electricity markets using data from the ERCOT real-time market. A semi-structural framework decomposes bid–cost markups into static market power and dynamic operating cost components. Preliminary results suggest that higher wind generation is associated with lower markups on average, consistent with wind flattening residual demand. However, transmission congestion amplifies local market power. In particular, markups are higher during periods of low wind availability and binding transmission congestion, when residual demand becomes steeper and local market power can emerge. These findings suggest that the competitive effects of renewable integration depend critically on short-run transmission conditions, highlighting the importance of congestion management in wholesale electricity markets. | |