in the contract prices. We consider and test a wide-ranging set of propositions, involving fundamental, behavioural …, dynamic, market conduct and shock components, on a long data set from the most liquid of European electricity forward markets …, the EEX. We show that part of what is conventionally regarded as the market price of risk in electricity is actually that …

During the Summer of 2000, wholesale electricity prices in California were nearly 500% higher than they were during the … explain this increase in wholesale electricity prices. We simulate competitive benchmark prices for Summer of 2000 taking … same months in 1998 or 1999. This price explosion was unexpected and has called into question whether electricity …

markups and entry observed in the data while at the same time reproducing empirically plausible moments for key macroeconomic … variables. Sticky prices are essential for these results. …

markups and entry observed in the data while at the same time reproducing empirically plausible moments for key macroeconomic … variables. Sticky prices are essential for these results. …

This paper proposes an explanation for mixed evidence on the behaviors of markups. The key mechanism consists of two … passive risk consideration, through which firms raise prices to abide by riskier business thereby associating higher … production with higher prices. The other channel is based on active risk management, through which firms lower prices to handle …

facilitate fuel and electricity subsidy reform, food subsidy reform should be undertaken. …

raising their average prices by contracting exports to lower value destinations? If the difference in value reflects different … prices because producers have market power, the answer will be ―yes‖. If the difference in value reflects differences in the …

collaboration. Paper [II] analyse how the deregulation of the Swedish electricity market has affected the price of electric power …This thesis consists of four self-contained papers related to the Nordic electricity market. Paper [I] examine how the … reform of the Nordic electricity markets has affected competition in the electric power supply market, Nord Pool. The …