The economics of electricity is shaped by its physics. A well know example is the non-storability of electricity that causes its price to fluctuate widely. More generally, physical constraints cause electricity to be a heterogeneous good along three dimensions - time, space, and lead-time....

Wind power is the largest renewable energy source which produces a negligible amount of greenhouse gas (GHG) emissions, has gained enormous attention in the electricity generation sector over the past decade in the United States. In this study, a Data Envelopment Analysis (DEA) is implemented to...

EU Member States increase deployment of intermittent renewable energy sources to deliver the 20% renewable target formulated in the European Renewables Directive of 2008. To incorporate these intermittent sources, a power market needs to be flexible enough to accommodate short-term forecasts and...