Question: 2 . The table below shows the bids from three buyers and the offers from three sellers in a centralized electricity market. Apply the High

2. The table below shows the bids from three buyers and the offers from three sellers in a centralized electricity market. Apply the High-Low Matching mechanism as described in the lecture to determine which transactions will be executed. Then, calculate the execution price for each matched pair (as the average of the buyer's bid and the seller's offer), and finally compute the overall weighted average execution price for all successful trades.
\begin{tabular}{|l|l|l|l|l|l|}
\hline Buyer ID & Bid Price (\$/MWh) & Bid Quantity (MWh) & Seller ID & Offer price (\$/MWh) & Bid Quantity (MWh)\\
\hline 1 & 55 & 100 & 1 & 45 & 60\\
\hline 2 & 52 & 80 & 2 & 47 & 80\\
\hline 3 & 50 & 60 & 3 & 50 & 100\\
\hline
\end{tabular}
2 . The table below shows the bids from three

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!