Competition among Renewables

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• Natalia Fabra (Universidad Carlos III de Madrid)
• Monday 18 March 2019, 11:15-12:00
• Seminar Room 1, Newton Institute.

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MESW02 - Electricity systems of the future: incentives, regulation and analysis for efficient investment

We model strategic behavior of renewable suppliers when competing in electricity auctions. We introduce renewables' intermittency by assuming that firms' available capacities are random and private information. In equilibrium, bid functions are a smooth decreasing function of firms' realized capacities. Thus, at times when there is more renewables' availability, supply functions shift outwards and downwards, leading to reductions in the market price. An increase in correlation between firms' available capacities strengthens competition non-monotonically. Keywords: electricity, competition, auctions.Natalia Fabra and Gerard Llobet (CEMFi)

This talk is part of the Isaac Newton Institute Seminar Series series.

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