Coutinho, Paulo Cesar; Oliveira, Andre Rossi de - In: International Journal of Energy Economics and Policy 3 (2013) 3, pp. 272-287
We study the interaction between forward and spot electricity markets in a scenario where buyers and sellers are price takers in the forward market and trade through marketers, who play a Cournot game. Our model’s main features come from the Brazilian electricity market, where a free contract...