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...

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 the drivers of European Power Exchange (EPEX) wholesale electricity prices between 2012 and early 2022 using machine learning. The agnostic random forest approach that we use is able to reduce in-sample root mean square errors (RMSEs) by around 50% when compared to a standard linear...

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 pandemic's impacts on European electricity markets have been enormous, especially in countries with abundant low marginal costs of production like France. This article provides an in-depth quantitative study of the impacts of the crisis on the French electricity sector. During the first...

Some restructured power systems rely on audited cost information instead of competitive bids for the dispatch and pricing of electricity in real time, particularly in hydro systems in Latin America. Audited costs are also substituted for bids in US markets when local market power is demonstrated...

This report investigates the effect of increasing the number of wind turbine generators on wholesale spot prices in the Australian National Electricity Market’s (NEM) existing transmission grid from 2014 to 2025. This reports answers urgent questions concerning the capability of the existing...

This report investigates the effect of increasing the number of wind turbine generators on energy generation in the Australian National Electricity Market’s (NEM) existing transmission grid from 2014 to 2025. This report answers urgent questions concerning the capability of the existing...

European electricity markets are geographically organized in zones, which often resemble countries. Overload of power lines within zones have to be relieved through other means than the electricity market, e.g. so-called “redispatching” of power plants. Traditionally, this has often been...

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...