Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers … will be allowed to choose their electricity supplier. This promises to result in lower prices, but there will be additional … transactions costs exceeding £100 million a year for the first five years. Relative to a counterfactual without competition, there …

The EU faces challenges in reforming the Gas and Electricity Directives to implement the single market in electricity … risk management through contracting, and designing markets and regulation to ensure effective and sustainable competition …. Restructuring is problematic, requiring forceful competition authorities with a clear agenda to achieve desirable structural reforms …

Several regulatory authorities worldwide have recently imposed forward contract obligations on electricity producers as … bidding in electricity markets, or in any other auction-based market. For this purpose, we introduce forward contracts in a …

, electricity and a composite good, "other fuels". This composite good is subject to such large measurement errors in the data set … and electricity consumption and it is shown how the model's structural parameters, i.e. those of household preferences … presented and the diversity of implied price and income elasticities is emphasized. Both gas and electricity are found to be …

The most important issues in auction design are the traditional concerns of competition policy-preventing collusive … discuss radiospectrum and football TV-rights auctions, electricity markets, and takeover battles), and the Anglo-Dutch auction …

these changes are: what should be the Government's policy on competition in the energy sector; how the privatised industries …

We develop a theoretical model of long-run investment decisions on capacity in the context of a liberalized electricity …