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dc.contributor.advisorFleten, Stein-Eriknb_NO
dc.contributor.authorGrøndahl, Roger Blikranb_NO
dc.contributor.authorAlnæs, Erik Nicholasnb_NO
dc.date.accessioned2014-12-19T14:28:28Z
dc.date.available2014-12-19T14:28:28Z
dc.date.created2013-06-09nb_NO
dc.date.issued2012nb_NO
dc.identifier626518nb_NO
dc.identifierntnudaim:7450nb_NO
dc.identifier.urihttp://hdl.handle.net/11250/266227
dc.description.abstractIn the deregulated Nordic electricity market, power producers bid to sell tomorrow's power in the day-ahead auction Elspot. This thesis presents an empirical analysis of bids submitted by three medium to large sized Norwegian reservoir hydropower producers over four two-week periods in 2011. Being price takers, the producers maximize their profits by bidding their marginal cost, which is dependent on both known and unknown variables. Additionally, producers must abide by both external market restrictions and internal technical and hydrological restrictions when bidding. Patterns in the submitted bids are found and explanations for the bidding behavior are given. Furthermore, suboptimalities and potential irrationalities in the bidding are revealed. A two-stage stochastic mixed-integer linear program generating optimal bids is developed to assist in the analysis. The hydropower producers do not optimize their bidding, yet often come close to the optimal result.nb_NO
dc.languageengnb_NO
dc.publisherInstitutt for industriell økonomi og teknologiledelsenb_NO
dc.titleBidding Revealed: An Empirical Analysis of Selling Hydropower through Elspotnb_NO
dc.typeMaster thesisnb_NO
dc.source.pagenumber62nb_NO
dc.contributor.departmentNorges teknisk-naturvitenskapelige universitet, Fakultet for samfunnsvitenskap og teknologiledelse, Institutt for industriell økonomi og teknologiledelsenb_NO


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