Universität zu Köln

Müsgens, Felix, Ockenfels, Axel ORCID: 0000-0003-1456-0191 and Peek, Markus (2014). Economics and design of balancing power markets in Germany. Int. J. Electr. Power Energy Syst., 55. S. 392 - 402. OXFORD: ELSEVIER SCI LTD. ISSN 1879-3517

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Abstract

This article analyzes the economic fundamentals that govern market design and behavior in German balancing power markets. Then, partly based on theoretical work by Chao and Wilson [3], we illustrate the role of the scoring and the settlement rule as key elements of the market design. With sufficiently competitive markets, a settlement rule based on uniform pricing ensures efficient energy call in the balancing power market. A scoring rule based on capacity prices only ensures an efficient production schedule. Thus, both rules together with rational bidding ensure simultaneous efficiency on the balancing power market and the wholesale electricity market. (C) 2013 Elsevier Ltd. All rights reserved.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Müsgens, Felix UNSPECIFIED UNSPECIFIED UNSPECIFIED Ockenfels, Axel UNSPECIFIED orcid.org/0000-0003-1456-0191 UNSPECIFIED Peek, Markus UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-447940
DOI:	10.1016/j.ijepes.2013.09.020
Journal or Publication Title:	Int. J. Electr. Power Energy Syst.
Volume:	55
Page Range:	S. 392 - 402
Date:	2014
Publisher:	ELSEVIER SCI LTD
Place of Publication:	OXFORD
ISSN:	1879-3517
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Faculty of Management, Economics and Social Sciences > Economics > Macroeconomic, Financial and Economic Policy > Professur für Economics, Design and Behavior Center of Excellence C-SEB
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language Engineering, Electrical & Electronic Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/44794