GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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00:10 Jan 28, 2019 |
English to Polish translations [PRO] Tech/Engineering - Energy / Power Generation | |||||||
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| Selected response from: Frank Szmulowicz, Ph. D. United States Local time: 05:07 | ||||||
Grading comment
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Summary of answers provided | ||||
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3 | możliwości manipulacji/manipulowania |
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Discussion entries: 2 | |
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możliwości manipulacji/manipulowania Explanation: gaming the system Posted by: Margaret Rouse WhatIs.com Contributor(s): Ivy Wigmore Gaming the system is manipulation or exploitation of the rules designed to govern a given system in an attempt to gain an advantage over other users. https://whatis.techtarget.com/definition/gaming-the-system ccccccc There may be gaming opportunities in the energy-only market. In particular, generators may withhold energy in order to drive up wholesale prices. A Capacity Market has potential to reduce these gaming opportunities by increasing penalties on generators that are unavailable at times of system stress. The third problem is exacerbated if there are significant barriers to entry, effectively restricting the number of participants in the wholesale electricity market. As margins become tighter and prices more volatile in the future, market participants may have more opportunities to withhold supply to drive up prices – particularly so as demand is inelastic in response to short-term shocks and so there are potentially significant gains from withholding at times of scarcity. This could result in a greater likelihood of gaming in the energy market and difficulties in differentiating such gaming from legitimate market-driven prices, which would increase the risk that the Government may want to intervene in the wholesale market to cap prices. However, we recognise that there are gaming risks whereby parties may attempt to exercise market power to raise the clearing price. Gaming risk 7.4 One of the principal risks identified in previous Capacity Market IAs is that of gaming. Capacity Markets are significant interventions in the market, adding complexity to the market and so creating potential for unintended consequences and for market participants to exploit arrangements to be able to earn undue profits. This means that plant will not be able to game the auction by withholding plant. https://assets.publishing.service.gov.uk/government/uploads/... |
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