Pay-as-bid auction & uniform price auction in electricity markets

This paper suggests that if the commodity space and price on the market non-convexity factors are expanded, the uniform price auction and pay-as-bid auction would be equivalent. This paper also demonstrates that the 'uplift' payment is originated from the generalized 'startup' cost which is based on a special commodity (i.e. the unit commitment decision). Numerical examples are given to illustrate the above analysis. (6 pages)