This report provides an overview of the main competition and regulatory issues in the Spanish gas and electricity markets, setting them in the broader context of the liberalisation of the European energy market. Public policy in energy markets needs to reconcile a number of different objectives,...

An imperfectly-informed regulator needs to procure multiple units of some good (e.g., green energy, market liquidity, pollution reduction, land conservation) that can be produced with heterogeneous technologies at various costs. How should she optimally procure these units? Should she run...