electricity market considering thermal generation costs, wholesale electricity prices and wind generation subsidies. A Monte Carlo …. Our results indicate that NAO phases can affect thermal generation costs by up to 8%, wholesale electricity prices by as …

tradeoff. Market-based prices can provide incentives to allocate resources more efficiently and reduce costs, but the presence … dominates despite modest efficiency gains, leading to higher consumer prices. Deregulation does not necessarily reduce prices … and improve consumer welfare. Thus, regulated prices may be preferred to market-based prices when firms are capable of …