Siting and operating incentives in electrical networks: A study of mispricing in zonal markets
研究了区域市场设计下发电商面临的错误定价问题，发现区域定价可能激励可再生能源在低效位置选址，并以澳大利亚为例展示了采用节点定价的潜在效率提升。
The incentives electricity generators face in investment and output decisions hinge on market design. Under some zonal market designs, where profit-maximizing participants face a uniform regional price, achieving lowest-cost system-wide production can be impossible. Further, zonal designs can incentivize siting of intermittent renewables in inefficient locations behind network constraints, of concern for jurisdictions undergoing a clean energy transition. We develop measures of mispricing that compare the zonal prices generators receive to locational marginal prices that value congestion externalities from generator output. We apply these measures to show wind and solar generators are increasingly siting in constrained areas of the Australian network, and highlight sources of potential efficiency gains from adopting a nodal market design with locational marginal pricing.