In April 2003 the U.S. Federal Energy Regulatory Commission proposed a complicated marketdesign – the Wholesale Power Market Platform (WPMP) – for common adoption byall U.S. wholesale power markets. Versions of the WPMP have been implemented in NewEngland, New York, the mid-Atlantic states,...

In einer im Mai 2010 von der WirtschaftsfördergesellschaftVorpommern mbH (WFG) in Zusammenarbeit mit kreislichen undstädtischen Wirtschaftsförderern sowie der Fachhochschule Stralsund, FachbereichWirtschaft, durchgeführten branchenübergreifenden Unternehmensbefragungzur Zufriedenheit mit...

This paper contributes to the ongoing discussion on price formation in electricity markets. For this, we conduct an analysis of the German electricity wholesale spot market which is located at the European Energy Exchange (EEX). Our dataset covers three spot market segments, namely the intraday...

The mechanism behind price formation in electricity futures markets is still under discussion. Theory suggests that hedging pressure caused by deviating risk preferences is the most promising approach. This paper contributes to this discussion through an empirical investigation of electricity...

The literature shows that for most UK industries privatization might be necessary but is not sufficient to produce economic benefits. Often prior changes in management or later changes in market structure and regulation have larger impacts than privatization itself. We ask what changes around...

This paper analyzes the eects of the New Source Review (NSR) environmental regula-tions on coal-red electric power plants. Regulations that grew out of the Clean Air Actof 1970 required new electric generating plants to install costly pollution control equipmentbut exempted existing plants....

This study uses an agent-based test bed (“AMES”)to investigate separation and volatility of locational marginalprices (LMPs) in an ISO-managed restructured wholesale powermarket operating over an AC transmission grid. Particular attentionis focused on the dynamic and cross-sectional response...

The EU Directive 2003/87/EC for the introduction of a European emission trading system has leftthe task of allocating the emission allowances mainly to the member states. In Germany the details of theallocation method are laid down in the Allocation Act (ZuG 2007). One central element of the...

This paper measures the extent to which prices exceed marginal costs in the U.S. natural gas distributionmarket during the period 1991-2007. We find large departures from marginal cost pricing in all 50states, with residential and commercial customers facing average markups of over 40%. Based...

A longstanding theoretical discussion on the merits of prices vs.quantities for regulating emissions under uncertainty exists in environmentalpolicy literature. However, empirical evidence w.r.t. instrumentchoice has not been put forward so far. In particular, verylittle is known about...