Uniform Pricing or Pay-as-Bid Pricing: A Dilemma for California and Beyond

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  • 1 January 2001
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      • Published in RePEc
Abstract
Any belief that a shift from uniform to as-bid pricing would provide power purchasers substantial relief from soaring prices is simply mistaken. The immediate consequence of its introduction would be a radical change in bidding behavior that would introduce new inefficiencies, weaken competition in new generation, and impede expansion of capacity.
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