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).
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Daily Overview |
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Renewable Energy 2 Location: B133 Session Chair: Zohreh Salimian, University of Auckland | |
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How day-ahead market power distorts incentive-based demand response 1: Kanazawa Seiryo University, Japan; 2: National Graduate Institute for Policy Studies, Japan This study investigates how firms' market power in the day-ahead electricity market influences the performance of incentive-based demand response (DR) programs during the balancing period. We demonstrate that market power in the day ahead increases the marginal cost of DR, thereby reallocating resources from DR to thermal generation in the balancing market. The distortions in the day-ahead market spill over into the balancing market, creating additional social costs. We further investigate the case where some firms in the day-ahead market own thermal generation resources that can be used during the balancing period. The results indicate that strategic firms have the incentive to manipulate the baseline consumption level downward in the day ahead to increase their integrated profits across markets, which contrasts with consumers' incentive to inflate the baseline to gain more revenue. Procompetitive policies in the day-ahead market alleviate the distortions caused by firms' strategic behavior across markets. | |