@misc{MuesgensOckenfelsPeek, author = {M{\"u}sgens, Felix and Ockenfels, Axel and Peek, Markus}, title = {Balancing Power Markets in Germany: Timing Matters}, series = {Zeitschrift f{\"u}r Energiewirtschaft}, volume = {36}, journal = {Zeitschrift f{\"u}r Energiewirtschaft}, number = {1}, issn = {1866-2765}, pages = {1 -- 7}, abstract = {This paper analyzes timing issues on the German balancing power market. We focus the analysis on the length of the bidding period, i.e. the length of the time period a supplier has to provide balancing power capacities, and the question of how far before the beginning of a bidding period the auction should be carried out. We show that different load levels require different plants for the optimal provision of balancing power. In a longer bidding period, the power plants that have the lowest average cost in the bidding period are unlikely to be efficient in all hours of the bidding period. Hence, shortening bidding periods can increase efficiency. Furthermore, we show that an early commitment on a power plant's mode of operation (when uncertainty about resulting spot prices is still relatively high) also reduces efficiency. This suggests that the auction should be held relatively close to the beginning of the bidding period. Furthermore, we discuss some advantages of a liquid real time market.}, language = {en} } @incollection{MuesgensOckenfels, author = {M{\"u}sgens, Felix and Ockenfels, Axel}, title = {Marktdesign in der Energiewirtschaft}, series = {Umwelt und Energie : Wirtschaftswissenschaftliches Seminar Ottobeuren}, booktitle = {Umwelt und Energie : Wirtschaftswissenschaftliches Seminar Ottobeuren}, editor = {Franz, Wolfgang and Ramser, Hans-J{\"u}rgen and Stadler, Manfred}, publisher = {Mohr Siebeck}, address = {T{\"u}bingen}, isbn = {978-3-16-149104-7}, pages = {247 -- 272}, language = {de} } @misc{MuesgensOckenfels, author = {M{\"u}sgens, Felix and Ockenfels, Axel}, title = {Design von Informationsfeedback in Regelenergiem{\"a}rkten}, series = {Zeitschrift f{\"u}r Energiewirtschaft}, volume = {35}, journal = {Zeitschrift f{\"u}r Energiewirtschaft}, number = {4}, issn = {1866-2765}, doi = {10.1007/s12398-011-0062-0}, pages = {249 -- 256}, abstract = {Auf vielen kontinentaleurop{\"a}ischen Energiem{\"a}rkten werden derzeit die Regeln f{\"u}r das Feedback auf Regelenergiem{\"a}rkten diskutiert: welche Informationen zu vergangenen Auktionen sollen wann ver{\"o}ffentlicht werden? Dieser Artikel beleuchtet Vor- und Nachteile verschiedener Feedbackpolitiken am Beispiel der Schweizer Regelenergiem{\"a}rkte. Die Ver{\"o}ffentlichung des Grenzleistungspreises ist in der Regel zu empfehlen. Dies gilt jedoch nicht f{\"u}r weitere Informationen (insbesondere extramarginale Gebote). Die optimale Feedbackpolitik h{\"a}ngt allerdings vom jeweiligen Marktdesign und von der Marktstruktur ab}, language = {de} }