%0 Journal Article
%T Multi-unit auctions in the procurement of electricity
%A Trifunovi£¿ Dejan
%A Risti£¿ Bojan
%J Economic Annals
%D 2013
%I Faculty of Economics, Belgrade
%R 10.2298/eka1397047t
%X This paper reviews some multi-unit auction mechanisms that are used in the procurement of electricity. In ordinary multi-unit auctions bidders compete to buy several units of the same object from the seller, while in procurement or reverse auctions suppliers of electricity compete to sell a certain number of units. Reverse electricity auctions are used in numerous countries and they create a competitive market for electricity, instead of state-owned monopolies providing electricity at administratively set prices. In this paper we will present the most commonly used multi-unit auction forms in electricity markets. Auctions for electricity from renewable energy sources deserve special attention, since these suppliers cannot compete with large-scale producers at the present state of technology.
%K electricity auctions
%K uniform-price auction
%K discriminatory auction
%K descending clock auction
%K hybrid auctions
%K sequential auctions
%K combinatorial auctions
%U http://www.doiserbia.nb.rs/img/doi/0013-3264/2013/0013-32641397047T.pdf