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Manipulated, Misled, Ignored, Abused: Residential Consumer Experience with Electric Deregulation in the United Kingdom
Jewell, Kevin - EconWPA - 2004
of Competition to Develop: Rather than compete for new customers, companies are relying on customer inertia to keep their … lead us to recommend against implementing plans to replace traditional regulation with “retail competition” for consumers …
Persistent link: https://www.econbiz.de/10005076594
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The Fall in British Electricity Prices: Market Rules, Market Structure, or Both?
Fabra, Natalia; Toro, Juan - EconWPA - 2003
In this paper we investigate the factors contributing to the fall in the Lerner Index (price-cost margin) in the British electricity market during the 90s. A first stage of our analysis models the number of breaks in the Lerner Index and their dating as unknowns. Our results suggest the...
Persistent link: https://www.econbiz.de/10005412900
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Price Wars and Collusion in the Spanish Electricity Market
Fabra, Natalia; Toro, Juan - EconWPA - 2002
\We analyze the time-series of prices in the Spanish electricity market by means of a time varying-transition-probability Markov switching model. Accounting for changes in demand and cost conditions (which reflect changes in input costs, capacity availability and hydro power), we show that the...
Persistent link: https://www.econbiz.de/10005412904
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Designing Electricity Auctions
Fabra, Natalia; Fehr, Nils-Henrik von der; Harbord, David - EconWPA - 2002
Motivated by the new auction format introduced in the England and Wales electricity market, as well as the recent debate in California, we characterize bidding behavior and market outcomes in uniform and discriminatory electricity auctions. We find that uniform auctions result in higher average...
Persistent link: https://www.econbiz.de/10005135073
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Modeling Electricity Auctions
Harbord, David; Fabra, Natalia; Fehr, Nils-Henrik von der - EconWPA - 2002
The recent debates over discriminatory versus uniform-price auctions in the UK and elsewhere have revealed an incomplete understanding of the limitations of some popular auction models when applied to real-world electricity markets. This has led certain regulatory authorities to prefer...
Persistent link: https://www.econbiz.de/10005407509
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Modeling highly volatile and seasonal markets: evidence from the Nord Pool electricity market
Weron, Rafal; Simonsen, Ingve; Wilman, Piotr - EconWPA - 2003
In this paper we address the issue of modeling spot electricity prices. After analyzing factors leading to the unobservable in other financial or commodity markets price dynamics we propose a mean reverting jump diffusion model. We fit the model to data from the Nord Pool power exchange and find...
Persistent link: https://www.econbiz.de/10005407920
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On detecting and modeling periodic correlation in financial data
Broszkiewicz-Suwaj, Ewa; Makagon, Andrzej; Weron, Rafal; … - EconWPA - 2005
For many economic problems standard statistical analysis, based on the notion of stationarity, is not adequate. These include modeling seasonal decisions of consumers, forecasting business cycles and - as we show in the present article - modeling wholesale power market prices. We apply standard...
Persistent link: https://www.econbiz.de/10005407946
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Vertical Restructuring of the Infrastructure Sectors of Transition Economies
Pittman, Russell - EconWPA - 2001
One important determinant of the speed and success of transition will be the efficiency of transformation and development of the infrastructure sectors. A great deal of attention has been paid to issues such as privatisation, restructuring, user prices, and terms of access in these sectors,...
Persistent link: https://www.econbiz.de/10005134435
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Deregulation, Restructuring and Changing R&D Paradigms in the US Electric Utility Industry
Sanyal, Paroma; Cohen, Linda R. - EconWPA - 2005
of selection and intensity. The primary findings are: First, greater deregulation and competition has a positive effect … competition and level and policies for stranded cost recovery do affect spending. Second, the response of R&D to financial and … effective retail competition may mitigate the problem of declining electricity R&D by the utilities. …
Persistent link: https://www.econbiz.de/10005561429
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Cournot Competition Yields Spatial Avoiding Competition in Groups
Yu, Chia-Ming; Lai, Fu-Chuan - EconWPA - 2003
the external competition effect may be exactly canceled out, or internal competition strictly dominates external … competition, or the internal competition effect is consistent with the external competition effect, therefore without any … competition inside each group. The analyses of an Anderson-Neven-Pal model are instructive in studying the conditions for a …
Persistent link: https://www.econbiz.de/10005134538