Lessons from the 2006 Illinois Electricity Auction

Matias Negrete-Pincetic, George Gross

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

The high prices of the outcomes of the 2006 Illinois Electricity Auction have generated considerably controversy because of their impacts in increasing retail electricity prices in Illinois. In this work, we present a review and a critical analysis of the design of, and the results obtained in, the reverse auction performed in September of 2006 for the two major distribution companies, ComEd and Ameren. Our work is from the vantage point of power system operations and economics, and aims to assess how well the auction process was designed, putting special emphasis in the consequences of the definition of the products.

Original languageEnglish (US)
Title of host publication2007 iREP Symposium- Bulk Power System Dynamics and Control - VII, Revitalizing Operational Reliability
DOIs
StatePublished - Dec 1 2007
Event2007 iREP Symposium- Bulk Power System Dynamics and Control - VII, Revitalizing Operational Reliability - Charleston, SC, United States
Duration: Aug 19 2007Aug 24 2007

Publication series

Name2007 iREP Symposium- Bulk Power System Dynamics and Control - VII, Revitalizing Operational Reliability

Other

Other2007 iREP Symposium- Bulk Power System Dynamics and Control - VII, Revitalizing Operational Reliability
CountryUnited States
CityCharleston, SC
Period8/19/078/24/07

Keywords

  • Customer demand
  • Electricity markets
  • Load shape
  • Power system economics
  • Reverse auctions in electricity
  • Risk management
  • Sources of uncertainty

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Control and Systems Engineering

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    Negrete-Pincetic, M., & Gross, G. (2007). Lessons from the 2006 Illinois Electricity Auction. In 2007 iREP Symposium- Bulk Power System Dynamics and Control - VII, Revitalizing Operational Reliability [4410562] (2007 iREP Symposium- Bulk Power System Dynamics and Control - VII, Revitalizing Operational Reliability). https://doi.org/10.1109/IREP.2007.4410562