Upon discussion of price setting on electricity wholesale markets, many refer to the so-called merit order model. Conventional wisdom holds that during most hours of the year, coal- or natural gas-fired power plants set the price on European markets. In this context, this paper analyses price...

Short-term congestion forecasting is highlyimportant for market participants in wholesale power marketsthat use Locational Marginal Prices (LMPs) to managecongestion. Accurate congestion forecasting facilitates markettraders in bidding and trading activities and assists marketoperators in system...

I extend multi-unit auction estimation techniques to a setting in which firms can express cost complementarities over time. In the context of electricity markets, I show how the auction structure and bidding data can be used to estimate these complementarities, which in these markets arise due...