Upstream producers that possess market power, sell forwards with a lengthy duration to regional electricity companies (REC). As part of the liberalization of the electricity market, RECs have been privatized and exposed to a possible bankruptcy threat if spot prices have fallen below their...

A fully unbundled, regulated network firm of unknown efficiency level can untertake unobservable effort to increase the likelihood of low downstream prices, e.g. by facilitating downstream competition. To incentivize such effort, the regulator can use an incentive scheme paying transfers to the...

In the process of regulatory reform in the electric power industry, the mitigation of market power is one of the basic problems regulators have to deal with. We use experimental data to study the sources of market power with supply function competition, akin to the competition in wholesale...

Seit der Deregulierung des deutschen Strommarktes im Jahre 1998 werden die Netznutzungsentgelte durch Verhandlungen zwischen den Energieerzeugern und den industriellen Nutzern festgelegt. Da die Stromnetze als nicht-bestreitbare natürliche Monopolisten anzusehen sind, können die Netzbetreiber...