Behaviour of Market Players in the Dutch Power Market How to Quantify Gaming Potentials?

摘要

The truth will probably be a combination of both aspects (unexpected supply shortages and intentional bidding behaviour). Market players will of course "game" the market. But what is "gaming"? Nobody will claim, that generators are only allowed to offer their capacity up to the highest variable cost of their marginal power plant. Mark-ups (an adder to the marginal cost) are normal occurrence in power markets. So far, the observers of the Dutch power market do not explain the theoretical backgrounds of such bidding behaviour.