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...

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 article presents an integrated electricity dispatch and load flow model with endogenous electricity generation capacity expansion. The target is to quantify generation capacity requirements for 2030 and where within Central Europe it shall be ideally placed when taking into account the...

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...