This paper investigates the determinants of the Italian electricity price (PUN) in order to determine the major challenges this market is currently facing. The results suggest that the policy maker should be aware that the importance of market expectations is increasing (captured in the model by...

This paper examines the redesign of the Irish Single Electricity Market in order to comply with the European Target Model for electricity. In particular, this work focuses on the challenges raised by the high concentration in the generation sector which exists in the Irish electricity market. We...

The benefits of smoothing demand peaks in the electricity market has been widely recognised. European countries such Spain and some of the Scandinavian countries have recently given to the consumers the possibility to face the spot prices instead of having a fixed tariffs determined by...

The European Union has set ambitious targets for emission reduction and the penetration of renewable energy, including the electricity generation sector as one of the major emitters of CO2. After a period of subsidy-driven investments, the costs of renewables decreased strongly making...

Deep decarbonization of the global electricity sector is required to meet ambitious climate change targets. This underlines the need for improved models to facilitate an understanding of the global challenges ahead, particularly on the concept of large-scale interconnection of power systems....

This paper compares retail and wholesale electricity prices in SEM, the market of the island of Ireland, and BETTA in Great Britain. Wholesale costs are much lower in BETTA. We show that this is mostly because the wholesale price in BETTA is set too low to cover generation costs, although it is...