PI:
Project Status:
Completed
This project was designed to investigate how the presence of forward contracts affects the behavior of suppliers in real-time markets, how suppliers and buyers determine an equilibrium between forward and real-time sales, how the volatility of spot prices affects the levels of investment in new generation capacity and demand-side response, and how to provide incentives for transmission, generation and distributed energy resources (including load response) to maintain acceptable standards of reliability in the supply system (i.e. maintain system adequacy).