干旱区生态环境知识资源中心(Arid): A Regional Approach to Market Monitoring in the West

Arid

DOI	10.2172/900946
报告编号	LBNL--61313
来源ID	OSTI_ID: 900946
	A Regional Approach to Market Monitoring in the West
	Barmack, Matthew; Kahn, Edward; Tierney, Susan; Goldman, Charles
英文摘要	Market monitoring involves the systematic analysis of pricesand behavior in wholesale power markets to determine when and whetherpotentially anti-competitive behavior is occurring. Regional TransmissionOrganizations (RTOs) typically have a market monitoring function. Becausethe West does not have active RTOs outside of California, it does nothave the market monitoring that RTOs have. In addition, because the Westoutside of California does not have RTOs that perform centralized unitcommitment and dispatch, the rich data that are typically available tomarket monitors in RTO markets are not available in the West outside ofCalifornia. This paper examines the feasibility of market monitoring inthe West outside of California given readily available data. We developsimple econometric models of wholesale power prices in the West thatmight be used for market monitoring. In addition, we examine whetherproduction cost simulations that have been developed for long-runplanning might be useful for market monitoring. We find that simpleeconometric models go a long ways towards explaining wholesale powerprices in the West and might be used to identify potentially anomalousprices. In contrast, we find that the simulated prices from a specificset of production cost simulations exhibit characteristics that aresufficiently different from observed prices that we question theirusefulness for explaining price formation in the West and hence theirusefulness as a market monitoring tool.
出版年	2006
报告类型	Technical Report
语种	英语
国家	美国
来源学科分类	29 ; ECONOMETRICS ; MARKET ; MONITORING ; MONITORS ; PLANNING ; PRICES ; PRODUCTION
URL	http://www.osti.gov/scitech/servlets/purl/900946
资源类型	科技报告
条目标识符	http://119.78.100.177/qdio/handle/2XILL650/269282
推荐引用方式 GB/T 7714	Barmack, Matthew,Kahn, Edward,Tierney, Susan,et al. A Regional Approach to Market Monitoring in the West,2006.