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SUMMARY:Competition among Renewables - Natalia Fabra (Universidad Carlos I
 II de Madrid)
DTSTART:20190318T111500Z
DTEND:20190318T120000Z
UID:TALK121144@talks.cam.ac.uk
CONTACT:INI IT
DESCRIPTION:We model strategic behavior of renewable suppliers when compet
 ing in electricity auctions. We introduce renewables&#39\; intermittency b
 y assuming that firms&#39\; available capacities are random and private in
 formation. In equilibrium\, bid functions are a smooth decreasing function
  of firms&#39\; realized capacities. Thus\, at times when there is more re
 newables&#39\; availability\, supply functions shift outwards and downward
 s\, leading to reductions in the market price. An increase in correlation 
 between firms&#39\; available capacities strengthens competition non-monot
 onically. Keywords: electricity\, competition\, auctions.Natalia Fabra and
  Gerard Llobet (CEMFi)
LOCATION:Seminar Room 1\, Newton Institute
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