The Magic of the Markets
Politicians promised renewable energy would pollute less and it would help the nation achieve energy independence. Nobody promised it would be cheap, but the big surprise is renewable energy actually lowers power prices.
The magic is in the markets. In most regions of the country, power prices are established by auctions. Generators bid their selling prices. The cheapest bids that collectively meet the forecasted demand win. The highest bid that clears the auction sets the market-clearing price for all generators....679 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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