In the context of a first Working Paper the authors argued that electricity has a number of characteristics that set it apart from other commodities. It was demonstrated that some of these characteristics might complicate the deregulation process. This paper analyses the ongoing deregulation...

In the context of a first Working Paper the authors argued that electricity has a number of characteristics that set it apart from other commodities. It was demonstrated that some of these characteristics might complicate the deregulation process. This paper analyses the ongoing deregulation...

Valuation of electricity generating assets is of central importance as utilities are forced to spin-off generators with the introduction of competitive markets. A continuous-time mean reverting price path with stochastic upward jumps is proposed as an appropriate model for long-run competitive...

Abstract The natural progression of generators and retailers, following electricity deregulation, to vertically integrate is a contentious subject involving, at one extreme, expectations that a laissez- faire market approach will deliver economic benefits to all participants, and at the other...

The introduction of scrubbers as a means of controlling sulfur dioxide pollution from stationary sources coincided with the implementation of the Clean Air Act of 1970. Since that time, there have been many policy changes affecting the electricity generation industry. These changes may be...

With the growing share of wind production, understanding its impacts on electricity price and greenhouse gas (GHG) emissions becomes increasingly relevant, especially to design better wind-supporting policies. Internal grid congestion is usually not taken into account when assessing the price...

With the growing share of wind production, understanding its impacts on electricity price and greenhouse gas (GHG) emissions becomes increasingly relevant, especially to design better wind-supporting policies. Internal grid congestion is usually not taken into account when assessing the price...

The electricity sector is the largest source of GHG emissions in the world, and reducing these emissions would often be costly. However, because electricity markets remain often only integrated at a shallow level (with different pricing regulations), many gains from deeper integration (adoption...

Transformation of energy systems is influencing economic policy agendas all over the world, particularly so in industrialized countries. In this process, Germany has taken a pioneering role. Technical innovations, institutional frameworks, and business models established there are of interest...

The jury is still out on the need for government-organized capacity markets in order to achieve efficient long-run investments in electricity generation. When new capacity markets are introduced, however, it is important that they are well designed and take account of existing experience and...