This paper presents new and updated evidence on the efficiency of the EPAD contracts in the Nordic financial electricity market, based on a long sample of 14 years, from 2000 to 2013 inclusive. The Electricity Price Area Differentials (EPADs) are used to hedge against price differences between a...

The paper looks at the development of the industry in the post-Soviet Russia, starting from the early 1990s. The main focus is on the last reform 2003-11 and the relationship of cost, prices and investment. In particular, the author examines the new designs for the electricity and capacity...

The paper examines long—run and short—run levels of market power in the liberalised Russian electricity market we observe that despite potential for market power abuse, actual exercise of market power as measured by Drice-cost markups remained low. we attribute the result to the bid-at--cost...

The paper examines the possible interactions of various policy proposals to introduce carbon taxation, adjust the domestic price of gas to export parity and build a major electricity interconnector, and their impact on carbon emissions and the fuel mix of the Russian electricity supply industry....