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from the wholesale electricity market, we also show that retail electricity liberalization does not always increase …
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This paper examines retail competition in a liberalized gas market. Vertically integrated firms run both wholesale … new competitors occurs. The development of wholesale trade, instead, may induce generalized entry and retail competition …. This equilibrium outcome is obtained if a compulsory wholesale market is introduced, even when firms are vertically …
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We examine electricity market reform in Brazil: from the 1990s till 2004 the largely hydro-powered market cleared using a market mechanism, and in March 2004 reformed to a single buyer structure. We model monthly log price differences using a two-state Markov Switching model, allowing water...
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