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Distributed energy resources (DERs) such as solar panels have small supplycapacities and cannot be directly integrated into wholesale markets. So, thepresence of an intermediary is critical. The intermediary could be aprofit-seeking entity (called the aggregator) that buys DER supply fromprosumers, and then sells them in the wholesale electricity market. Thus, DERintegration has an influence on wholesale market prices, demand, and supply.The purpose of this article is to shed light onto the impact of efficient DERaggregation on the market power of conventional generators. Firstly, underefficient DER aggregation, we quantify the social welfare gap between twocases: when conventional generators are truthful, and when they are strategic.We also do the same when DERs are not present. Secondly, we show that the gapdue to market power of generators in the presence of DERs is smaller than theone when there is no DER participation. Finally, we provide explicitexpressions of the gaps and conduct numerical experiments to gain deeperinsights. The main message of this article is that market power of conventionalgenerators can be mitigated by adopting an efficient DER aggregation model.

Quantification of Market Power Mitigation via Efficient Aggregation of Distributed Energy Resources