The integration of electricity markets around the world has increased the importance of congestion between countries/states and has initiated a discussion of how to harmonize network tariffs. This paper analyzes how the transmission capacity and the transmission cost, such as a transmission...

We measure the degree of market power execution and inefficiencies in Alberta's restructured electricity market. Using hourly wholesale market data from 2008 to 2014, we find that firms exercise substantial market power in the highest demand hours with limited excess production capacity. The...

We analyse how the market design influences the bidding behavior in multi-unit auctions, such as wholesale electricity markets. It is shown that competition improves for increased market transparency and we identify circumstances where the auctioneer prefers uniform to discriminatory pricing. We...

This paper examines the efficiency of the arbitrages performed between two regional markets for wholesale natural gas linked by a capacity-constrained pipeline system. We develop a switching regime specification to (i) detect if the observed spatial arbitrages satisfy the integration notion that...

This study examines a field experiment in Texas that includes pricing and informational interventions to encourage energy conservation during summer peak load days when the social cost of generation is the highest. We estimate that our critical peak pricing intervention reduces electricity...

Research on electricity futures markets has to date not explored the role that market liquidity may play in determining risk premia. Further, no detailed empirical examination of both liquidity and risk premia in the New Zealand electricity futures market are discernible. Using data from October...

This article explores key market design issues to be addressed in future electricity markets dominated by intermittent renewable generation with near zero private marginal costs for generating electricity. Changing technology mixes will change market outcomes, but they do not change the...

The seminal studies by Allcott and Mullainathan (2010), Allcott (2011), and Allcott and Rogers (2014) show that social comparison-based home energy reports (HER) are a cost-effective climate policy intervention in the US. Our paper demonstrates the context-dependency of this result. In most...

The paper makes an original contribution to the electricity market literature by using an international sample to explore the efficiency of electricity futures across different markets. We focus on the efficiency of five futures markets (Australia, Germany, New Zealand, Nord Pool and the PJM...

In Germany, substantial drops in wholesale power prices have become a regular phenomenon. While such price drops have far-reaching implications for the functioning of the power market, their underlying determinants remain poorly understood. To fill this gap, we propose a Markov regime-switching...