23 In a centralized market, the system operator has gathered the following bids and offers over the next hour. Assume this is an competitive market and all bid prices reflect true costs. Supply bids Company | Quantity MWh) Price (S/MWh) Gen A 50 20 Gen B 30 Gen C 70 27 Gen D 20 35 Gen E 50 Demand offers Company | Quantity (MWh Price S/MWh 70 Dem B 20 Dem C Dem D Dem E 10 70 Dem A 40 100 20 63 55 33 29 1. What is the market clearing price? 2. Calculate the global welfare. 3. If Gen A is able to reduce its bid quantity, how much MWh quantity should Gen A offer to maximize its profit in the next hour? Assume offers and bids from all other participants stay the Sanne. 23 In a centralized market, the system operator has gathered the following bids and offers over the next hour. Assume this is an competitive market and all bid prices reflect true costs. Supply bids Company | Quantity MWh) Price (S/MWh) Gen A 50 20 Gen B 30 Gen C 70 27 Gen D 20 35 Gen E 50 Demand offers Company | Quantity (MWh Price S/MWh 70 Dem B 20 Dem C Dem D Dem E 10 70 Dem A 40 100 20 63 55 33 29 1. What is the market clearing price? 2. Calculate the global welfare. 3. If Gen A is able to reduce its bid quantity, how much MWh quantity should Gen A offer to maximize its profit in the next hour? Assume offers and bids from all other participants stay the Sanne