Exercise of market power by dominant generators is recognized as a serious issue in restructured wholesale electricity markets. Oligopolistic generators that participate in the electricity market on a nationwide scale could act strategically by taking into account the limited capacity of...

In studies on the liberalization of Japanese electricity markets, simulations targeting whole areas of liberalization have been conducted. However, new entries have been very rare except in the area of commercial demand for extra-high voltage supply. In this paper we conduct a simulation...

In recent years there has been growing discussion regarding market designs of emissions trading. This paper examines a model in which emissions trading is introduced in the oligopolistic electricity market, which comprises both forward contracts and spot transactions. In particular we...