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Focuses on a study that developed a regulatory framework to address the issue of long-term guarantee of supply in deregulated power systems. Discussion on electricity supply problems experienced by generators and consumers; Details on the appropriate format of a reliability contract; Results and implications.

Studies the production cost minimization approach in electricity pools, including the long-term economic signals it provides and their impact on future investments. Significance of auction design for microeconomic theory; Effect of the payment minimization strategy on final dispatches; Interdependence between short-term price determination and long-term decisions.

An unprecedented process of reforms has shaken the power industry during the last two decades. In order to sell the energy produced by their plants, many generation companies are now forced to prepare and submit daily offers to an electricity market under uncertainty about the offers submitted by their rivals. In this paper, we describe a methodology to prepare optimal offers for a generation company operating in a day-ahead market organized as a series of 24 hourly uniform-price multiunit double auctions. We explicitly consider the ability of the company to affect the price of electricity as well as the company's uncertainty about rival's behavior. [ABSTRACT FROM AUTHOR]