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《Electric Power》 2001-08
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Mechanism of Price Spiking in Electric Power Market

:This situation is concerned by the power industry in the world and reported by New York Times in January 2 2001. In this paper, the price spikes caused by gaming focused on withholding and high price strategies by suppliers. Through analysis and simulation it is shown that both withholding and high prices can result in price spikes. The actual revenue of a supply may increase although the award may decrease when it take the above two strategies. This type of gaming behaviors has low risk and high profit potential. To stabilize the price, the measures are needed to prevent withholding and limit the shape of bid curves.
【Fund】: 国家杰出青年科学基金项目(6970025);; 国家自然科学基金重点项目(59937150)
【CateGory Index】: F416.61
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