). We ftnd that equity market valuation is consistent with discounting without allowing for credit risk. This differs from …

Europe's power system is still marked by a distinct national component, and despite some regions with strongly … integrated power systems, electricity supply today still has a largely national basis. Policies to decarbonise the power sector … may fundamentally alter this situation, because power generation from renewable, carbon-neutral sources may require large …

Control power (regulating power, balancing power) is used to quickly restore the supply-demand balance in power systems …. Variable renewable energy sources (VRE) such as wind and solar power are often thought to increase the reserve requirement … load, contracted control power decreased by 20%, and procurement cost fell by 50%. Today, control power adds only 0.4% to …

with two candidates. These candidates are interested in power and ideology, but their weights on these two motives are not … differentiation, respectively. Our analysis shows how these equilibrium configurations depend on the relative interests in power (resp …