eprintid: 26431
rev_number: 28
eprint_status: archive
userid: 1482
importid: 105
dir: disk0/00/02/64/31
datestamp: 2018-11-19 11:37:04
lastmod: 2021-11-09 16:42:32
status_changed: 2021-11-09 16:42:32
type: monograph
metadata_visibility: no_search
creators_name: Crampes, Claude
creators_name: Renault, Jérôme
creators_idrefppn: 026804484
creators_idrefppn: 112479952
title: Supply flexibility in electricity markets
ispublished: pub
subjects: subjects_ECO
abstract: The development of non-dispatchable renewable sources of energy requires more flexible reliable thermal equipment to match residual demand. We analyze the advantages of delaying production decisions to benefit from more precise information on states of the world, at the expense of higher production costs in a two-period framework where two technologies with different flexibility characteristics are available. We determine firstbest production levels ex ante and ex post, that is, when demand is still random and is known with certainty respectively. We then show that, under perfect competition, first best can be implemented indifferently either by means of ex post state-contingent markets or by means of a day-ahead market followed by adjustment markets. By contrast, when the industry is imperfectly competitive, the two market designs are not equivalent.
date: 2018-07
date_type: published
publisher: TSE Working Paper
official_url: http://tse-fr.eu/pub/33094
faculty: tse
divisions: tse
language: en
has_fulltext: TRUE
subjectsJEL: JEL_C72
subjectsJEL: JEL_D24
subjectsJEL: JEL_L23
subjectsJEL: JEL_L94
view_date_year: 2018
full_text_status: public
monograph_type: working_paper
series: TSE Working Paper
volume: 18-964
place_of_pub: Toulouse
pages: 31
institution: Toulouse Capitole University
department: Toulouse School of Economics
book_title: TSE Working Paper
oai_identifier: oai:tse-fr.eu:33094
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oai_lastmod: 2021-11-03T08:46:08Z
oai_set: tse
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citation:   Crampes, Claude <https://www.idref.fr/026804484> and Renault, Jérôme <https://www.idref.fr/112479952>  (2018) Supply flexibility in electricity markets.  TSE Working Paper, n. 18-964, Toulouse     
document_url: https://publications.ut-capitole.fr/id/eprint/26431/1/wp_tse_964.pdf