In this paper we analyse the 2008 electricity price in the Irish All-Island Market. We test whether this price is 'efficient' by comparing it to the electricity price in Great Britain. This analysis suggests that around €16 per MWh of the difference in wholesale prices between Ireland and...

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...