The liberalisation of the Hungarian electricity and natural gas markets has been completed in 2009. The liberalisation of the electricity market resulted in different competitive positions in the production, the wholesale and the retail trade. The high level of market concentration survived in...

The liberalisation of the Hungarian electricity and natural gas markets has been completed in 2009. The liberalisation of the electricity market resulted in different competitive positions in the production, the wholesale and the retail trade. The high level of market concentration survived in...

The incentives electricity generators face in investment and output decisions hinge on market design. Under zonal market designs, where profit-maximizing participants face a uniform regional price, achieving lowest-cost system-wide production can be impossible. Further, zonal designs can...

This paper examines the impact on transmission investment of the transition away from central planning by vertically integrated electric utility monopolies toward Independent System Operators (ISOs) and market incentives. After summarizing the regulatory background of the new ISOs and the...

Turkish electricity reform is entering a new phase through the Turkish Government's proposal to create 21 new distribution companies, 18 of them through merger. Two aspects of merger analysis are the operational cost savings and the potential production efficiency gains. This paper concentrates...

Non-discriminatory third-party access to transportation infrastructures in electricity - transmission and distribution networks - is essential for open and effective competition in wholesale and retail electricity markets. Competition in wholesale energy markets is possible and desirable as it...

This paper presents an approach for resilience incentives in the regulation of electricity network operators. Resilience is the ability of the power system to deal quickly and efficiently with large-scale and long-lasting power interruptions. It comprises two related aspects: minimizing the...

In this paper, we present a straightforward economic model that explains the incentives to manipulate nodal energy prices in a “Day 2” RTO market. The model distinguishes between legitimate market participation that increases overall market efficiency and manipulative behavior that distorts...

Short-term operating requirements and constraints in power systems are becoming increasingly important with the greater flexibility needed due to the integration of variable renewables. However, large problem sizes and computational barriers have limited the extent to which they are included in...

Performance-based regulation (PBR) is influenced by the Bayesian and non-Bayesian incentive mechanisms. While Bayesian incentives are impractical, the insights from their properties can be combined with practical non-ayesian mechanisms for application to transmission pricing. This combination...