Power sector reforms across Latin America in the 1990s based on privatization, liberalization, and market forces were largely unavoidable. This book argues that while there is no turning back from this process, many reforms may not prove sustainable without further efforts to build a stronger...

Power sector reforms across Latin America in the 1990s based on privatization, liberalization, and market forces were largely unavoidable. This book argues that while there is no turning back from this process, many reforms may not prove sustainable without further efforts to build a stronger...

The European Commission is introducing new regulations on submission and publication of data in electricity markets (SPDEM) and on wholesale energy market integrity and transparency (REMIT). I discuss issues relevant for undertaking an evaluation of such regulations. I argue that, for market...

We explore the efficacy of price and quantity controls in a dynamic setup in which the decisions of some agents are irreversible. The assumption of irreversibility is shown to improve the performance of a tax relative to that of a system of tradable quotas and significantly alter the equilibrium...

We analyse retailer and household behaviour on the Norwegian electricity market, based on detailed information on prices and other market characteristics. We find that there exists a competitive market segment where a number of retailers compete fiercely for customers, with small margins on all...

Motivated by the new auction format in the England and Wales electricity market, as well as the recent debate in California, we characterize bidding behavior and market outcomes in uniform and discriminatory electricity auctions. Uniform auctions result in higher average prices than...