Much of the discussion about new markets for electricity contracts focuses on the auction format to be used. Far less attention has been paid to the contract definition itself. An analysis of the 2006 Illinois Electricity Auction shows how a poorly formulated product definition can erode the performance of such markets. The authors propose an improved product definition to overcome the key problems they have identified.
ASJC Scopus subject areas
- Energy (miscellaneous)
- Management of Technology and Innovation
- Business and International Management