Publication:
Contracting for the Second Best in Dysfunctional Electricity Markets

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dc.contributor.authorNikandrova, Arina
dc.contributor.authorSteinbuks, Jevgenijs
dc.date.accessioned2014-08-15T17:08:42Z
dc.date.available2014-08-15T17:08:42Z
dc.date.issued2014-06
dc.description.abstractPower pools constitute a set of sometimes complex institutional arrangements for efficiency-enhancing coordination among power systems. Where such institutional arrangements do not exist, there still can be scope for voluntary electricity-sharing agreements among power systems. This paper uses a particular type of efficient risk-sharing model with limited commitment to demonstrate that second-best coordination improvements can be achieved with low to moderate risks of participants leaving the agreement. In the absence of an impartial market operator who can observe fluctuations in connected power systems, establishing quasi-markets for trading excess electricity through the kind of mechanism described here helps achieve sustainable cooperation in mutually beneficial electricity sharing.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/06/19747558/contracting-second-best-dysfunctional-electricity-markets
dc.identifier.doi10.1596/1813-9450-6955
dc.identifier.urihttps://hdl.handle.net/10986/19369
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 6955
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectADVERSE SELECTION
dc.subjectAGGREGATE SUPPLY
dc.subjectAPPROACH
dc.subjectASYMMETRIC INFORMATION
dc.subjectAVAILABILITY
dc.subjectBALANCE
dc.subjectBARTER
dc.subjectCOAL
dc.subjectCONSUMPTION OF ELECTRICITY
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCONTRACTUAL AGREEMENTS
dc.subjectDEMAND FOR ELECTRICITY
dc.subjectDEREGULATION
dc.subjectDISCOUNT RATE
dc.subjectECONOMIC BEHAVIOR
dc.subjectECONOMIC BENEFITS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIES OF SCALE
dc.subjectEFFICIENT ALLOCATION
dc.subjectEFFICIENT ALLOCATIONS
dc.subjectELECTRIC GRID
dc.subjectELECTRIC POWER
dc.subjectELECTRIC POWER GENERATION
dc.subjectELECTRIC POWER SYSTEMS
dc.subjectELECTRIC SYSTEM
dc.subjectELECTRIC SYSTEMS
dc.subjectELECTRICITY
dc.subjectELECTRICITY CONSUMPTION
dc.subjectELECTRICITY EXCHANGE
dc.subjectELECTRICITY GENERATION
dc.subjectELECTRICITY GENERATION CAPACITY
dc.subjectELECTRICITY MARKET
dc.subjectELECTRICITY PRODUCTION
dc.subjectELECTRICITY SECTOR
dc.subjectELECTRICITY SUPPLY
dc.subjectELECTRICITY SYSTEMS
dc.subjectELECTRICITY TRADE
dc.subjectELECTRIFICATION
dc.subjectENERGY DEMAND
dc.subjectENERGY ECONOMICS
dc.subjectENERGY MARKETS
dc.subjectENERGY POLICY
dc.subjectENERGY REGULATORY COMMISSION
dc.subjectENERGY SECTOR
dc.subjectENERGY TRANSMISSION
dc.subjectEXCESS ELECTRICITY
dc.subjectFIRST ORDER CONDITION
dc.subjectFIXED COSTS
dc.subjectFOSSIL
dc.subjectFOSSIL FUEL
dc.subjectGENERATION
dc.subjectGENERATION ASSETS
dc.subjectGENERATION CAPACITY
dc.subjectGENERATION OF ELECTRICITY
dc.subjectGENERATORS
dc.subjectGRIDS
dc.subjectINFRASTRUCTURE SERVICES
dc.subjectMARGINAL COSTS
dc.subjectMARKET DISTORTIONS
dc.subjectMICROECONOMICS
dc.subjectNUCLEAR POWER
dc.subjectNUCLEAR POWER PLANTS
dc.subjectOPEN ACCESS
dc.subjectPEAK DEMAND
dc.subjectPEAK DEMAND PERIODS
dc.subjectPOLITICAL ECONOMY
dc.subjectPOSITIVE PRODUCTION
dc.subjectPOWER
dc.subjectPOWER FLOWS
dc.subjectPOWER MARKETS
dc.subjectPOWER PLANT
dc.subjectPOWER PLANTS
dc.subjectPOWER POOLS
dc.subjectPOWER SECTOR
dc.subjectPOWER SECTOR REFORM
dc.subjectPOWER SHORTAGES
dc.subjectPOWER SUPPLIES
dc.subjectPOWER SUPPLY
dc.subjectPOWER SYSTEM
dc.subjectPOWER SYSTEMS
dc.subjectPRESENT VALUE
dc.subjectPRICE ADJUSTMENTS
dc.subjectPRODUCTION OF ELECTRICITY
dc.subjectPRODUCTIVITY
dc.subjectPUBLIC SECTOR
dc.subjectRENEWABLE GENERATION
dc.subjectRETAIL ELECTRICITY
dc.subjectRISK SHARING
dc.subjectSOCIAL SURPLUS
dc.subjectSUNK COSTS
dc.subjectSUPPLY OF ELECTRICITY
dc.subjectTRANSMISSION CAPACITY
dc.subjectTRANSMISSION CONSTRAINTS
dc.subjectTRANSMISSION GRID
dc.subjectTRANSMISSION LINES
dc.subjectTRANSMISSION ORGANIZATION
dc.subjectTRANSMISSION SYSTEM
dc.subjectUTILITIES
dc.subjectWIND
dc.titleContracting for the Second Best in Dysfunctional Electricity Marketsen
dspace.entity.typePublication
okr.associatedcontenthttps://openknowledge.worldbank.org/handle/10986/25837 Accepted journal manuscript
okr.crossref.titleContracting for the Second Best in Dysfunctional Electricity Markets
okr.date.disclosure2014-07-01
okr.date.doiregistration2025-04-10T11:14:25.830073Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2014/06/19747558/contracting-second-best-dysfunctional-electricity-markets
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeTransport and ICT
okr.globalpracticeEnergy and Extractives
okr.guid411711468327386437
okr.identifier.doi10.1596/1813-9450-6955
okr.identifier.externaldocumentum000158349_20140630083239
okr.identifier.internaldocumentum19747558
okr.identifier.reportWPS6955
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/06/30/000158349_20140630083239/Rendered/PDF/WPS6955.pdfen
okr.sectorEnergy and mining :: Power
okr.sectorEnergy and mining :: General energy sector
okr.themeFinancial and private sector development :: Infrastructure services for private sector development
okr.themeFinancial and private sector development :: Regulation and competition policy
okr.themeTrade and integration :: Regional integration
okr.themeEnvironment and natural resources management :: Environmental policies and institutions
okr.topicEnergy Technology and Transmission
okr.topicEnergy::Energy Production and Transportation
okr.topicMacroeconomics and Economic Growth::Political Economy
okr.topicPower and Energy Conversion
okr.topicInfrastructure Economics and Finance::Infrastructure Economics
okr.unitEnvironment and Energy Team, Development Research Group
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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