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Full-Text Articles in Business
An Overview Of Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
An Overview Of Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
Peter Cramton
No abstract provided.
Colombia’S Forward Energy Market, Peter Cramton
Colombia’S Forward Energy Market, Peter Cramton
Peter Cramton
This paper presents a market design for Colombia’s forward energy market, which is scheduled to began in 2008. The forward energy market is an organized market to procure energy for electricity customers on a forward basis. It includes both the regulated market (residential and other small customers) and the nonregulated market (large customers). Currently, regulated customers represent 68% of the total electricity demand and nonregulated customers represent the remaining 32%. The proposed design is novel in that it integrates both the regulated and nonregulated customers into a single organized market. Although the regulated and nonregulated energy products remain distinct, their …
Affidavit Of Peter Cramton, Peter Cramton
Affidavit Of Peter Cramton, Peter Cramton
Peter Cramton
Affidavit arguing that HQ manipulated the NYISO TCC and day-ahead energy markets. On behalf of DC Energy, LLC.
Affidavit Of Peter Cramton, Peter Cramton
Affidavit Of Peter Cramton, Peter Cramton
Peter Cramton
Affidavit arguing that the Illinois auction for energy for small customers was a competitive auction. On behalf of J. Aron & Company and Morgan Stanley Capital Group Inc.
Product Design For Colombia’S Regulated Market, Peter Cramton
Product Design For Colombia’S Regulated Market, Peter Cramton
Peter Cramton
This paper presents a product design for Colombia’s regulated market (MOR), which is scheduled to began in 2008. The regulated market consists of residential and other small customers. Currently, regulated customers represent 69% of the total load. I propose a market based on a single load-following product in which each supplier bids to serve its desired share of the Colombia regulated load. Thus, a supplier that wins a 10% share at auction has an obligation to serve 10% of the actual regulated load in every hour of the commitment period. The supplier is paid the MOR clearing price for every …
Affidavit Of Peter Cramton, Peter Cramton
Affidavit Of Peter Cramton, Peter Cramton
Peter Cramton
Affidavit identifying manipulation of New York's capacity market by KeySpan and the need for market monitoring and mitigation. On behalf of Consolidated Edison Company of New York.
Why We Need To Stick With Uniform-Price Auctions In Electricity Markets, Peter Cramton, Steven Stoft
Why We Need To Stick With Uniform-Price Auctions In Electricity Markets, Peter Cramton, Steven Stoft
Peter Cramton
Wholesale electricity markets are commonly organized around a spot energy market. Buyers and suppliers submit bids and offers for each hour and the market is cleared at the price that balances supply and demand. Buyers with bids above the clearing price pay that price, and suppliers with offers below the clearing price are paid that same price. This uniform-price auction, which occurs both daily and throughout the day, is complemented by forward energy markets. In practice, between 80 and 95 percent of wholesale electricity is traded in forward energy markets, often a month, or a year, and sometimes many years …
Colombia Firm Energy Market, Peter Cramton, Steven Stoft
Colombia Firm Energy Market, Peter Cramton, Steven Stoft
Peter Cramton
A firm energy market for Colombia is presented. Firm energy—the ability to provide energy in a dry period—is the product needed for reliability in Colombia’s hydro-dominated electricity market. The firm energy market coordinates investment in new resources to assure that sufficient firm energy is available in dry periods. Load procures in an annual auction enough firm energy to cover its needs. The firm energy product includes both a financial call option and the physical capability to supply firm energy. The call option protects load from high spot prices and improves the performance of the spot market during scarcity. The market …