We examine the effects of reorganizing electricity markets on ca- pacity investments, retail prices and welfare when … wholesale trade, and (iii) sep- arated duopoly with wholesale trade. Assuming that wholesale prices can react to changes in … retail prices (but not vice versa), we find that generators install sufficient capacity to serve retail demand in each market …

We study the role of vertical structure in determining generating capacities and retail prices in the electricity … prices are such that welfare is highest (lowest) under separated (integrated) duopoly. The driving force behind this result … that vertical structure plays an important role in determining generating capacities and retail prices. …

welfare in the electricity industry. Analyzing a model in which demand is uncertain and retailers must commit to retail prices …This paper studies how competition and vertical structure jointly determine generating capacities, retail prices, and … before they buy electricity in the wholesale market, we show that welfare is highest if competition in generation and …

choose between fixed tariffs and the wholesale prices. The model is calibrated on a real market case - Spain - where since …The benefits of smoothing demand peaks in the electricity market has been widely recognised. European countries such … Spain and some of the Scandinavian countries have recently given to the consumers the possibility to face the spot prices …

the electricity generation sector as one of the major emitters of CO2. After a period of subsidy-driven investments, the … use a power systems model to simulate the whole European electricity market in 2030. Using the renewable revenues …