Increasing electric market efficiency with fexible mechanisms | John Birge | Smart Grid Seminar
Channel: Stanford ENERGY
Date: 2020-10-27

Current wholesale electricity market designs of day-ahead and real-time markets have  inherent inefficiencies that are amplified with greater shares from intermittent renewable sources.  Building in flexibility through time and geographically substitutable bids and stochastic unit commitments can yield significant gains. This talk discusses how to model and assess these advantages and their implications for renewable generation.