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Pay-as-bid pricing in combined pool / bilateral electricity markets

Kockar, I. and Cuervo Franco, P. and Galiana, F. (2002) Pay-as-bid pricing in combined pool / bilateral electricity markets. In: 14th Power Systems Computation Conference, 2002-06-24 - 2002-06-28.

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In the context of combined pool/bilateral operation of electricity markets, this paper compares two pricing strategies; pay-as-bid strategy defines three types of services: bilateral contract generation, transmission loss and congestion management required by the bilateral contracts, and pool demand generation including associated transmission loss and congestion