The interdependence of electricity and natural gas is becoming a major energy policy and regulatory issue in all jurisdictions around the world. The increased role of gas fired plants in renewable-based electricity markets and the dependence on gas imports make this issue particular striking for...

Electricity markets have typically been regulated all over the world. In Europe, UK and Norway have begun to deregulate their electricity markets. Several more countries will probably join them in the near future, for example Finland, Sweden and Spain. The objectives are twofold: to increase...

In this paper, we describe the approach to, and experience of, the deregulation and liberalisation of the Norwegian electricity sector from 1991. The Norwegian electricity market was subsequently integrated with the Swedish, Finnish and Danish markets to become the Nordic electricity market: the...

We review the recent empirical research concerning market power on the Nordic wholesale market for electricity, Nord Pool. There is no evidence of blatant and systematic exploitation of system level market power on Nord Pool. However, generation companies seem from time to time able to take...

We consider the effects of vertical integration on the performance of long-term and spot markets when spot prices are uncertain and agents are risk averse. We find that vertical integration impairs market performance by increasing the gap between contract and (expected) spot prices. This holds...

Sähkömarkkinoiden osittainen avautuminen kilpailulle on merkinnyt alan toimintaympäristön perusteellista muutosta. Muutos Euroopassa alkoi 1990-luvun alussa kun Englanti ja Norja vapauttivat sähkön myynnin ja tuotannon kilpailulle. EU:n sisällä sähkömarkkinoiden uudistusta ohjaa...

This thesis analyzes the impact of specific structural breaks, e.g., product innovation, and regulatory interventions in European wholesale electricity markets. Unlike other markets such as those for convenience goods, network-bound industries, including railways, telecommunications, gas and...