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Contracting for the second best in dysfunctional electricity markets, Volume 1
Author:Nikandrova, Arina; Steinbuks, Jevgenijs; Country:World;
Date Stored:2014/06/30Document Date:2014/06/01
Document Type:Policy Research Working PaperSubTopics:Energy Production and Transportation; Political Economy; Infrastructure Economics; Energy Technology & Transmission; Power & Energy Conversion
Language:EnglishMajor Sector:Energy and mining
Rel. Proj ID:8S-South Asia Energy Security And Energy Trade -- -- P143029;Region:The World Region
Report Number:WPS6955Sub Sectors:Thermal Power Generation; General energy sector; Hydropower; Transmission and Distribution of Electricity
Collection Title:Policy Research working paper ; no. WPS 6955TF No/Name:TF015723-South Asia Energy Security and Trade; TF014678-South Asia Energy Security and Energy Trade
Volume No:1  

Summary: Power 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.

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