In this paper, we analyse if experiencing a supply interruption affects the valuation of security of supply of electricity. To do so, we utilised a blackout in Munich, Germany, in November 2012 as a natural experiment by conducting a Contingent Valuation survey around two months after the event....

Liberalisation, climate policy and promotion of renewable energy are challenges to players of the electricity sector in many countries. Policy makers have to consider issues like market power, bounded rationality of players and the appearance of fluctuating energy sources in order to provide...

In Europe, the ongoing renewable expansion and delays in the planned grid extension have intensified the discussion about an adequate electricity market design. Against this background, we jointly apply an agent-based electricity market model and an optimal power flow model to investigate the...