Earlier literature clearly shows potential for, and realized abuses of, market power in deregulated electricity markets. Markets with a significant role of hydropower stations are susceptible to the abuse of market power. In this paper we utilize a long-run oriented Real-Time Price based...

In this paper we study the potential effects of Real Time Pricing (RTP) of electricity to the need of long-run capacities in the Nordic power markets. A characteristic of the Nordic power market is the large variety of production technologies of which hydro and nuclear power are capacity...

Power systems with high shares of wind and solar power have to balance their intermittent nature. Pumpedâ€hydro storage plants can provide the required flexibility, while thermal backup plants offer an alternative. This paper proposes a model based on peakâ€loadâ€pricing theory to...

We investigate price responsiveness of wholesale electricity customers in the hourly Ontario wholesale electricity market. We use detailed generator and market level data to calculate market power measures such as the Lerner Index, Residual Supplier Index, and Pivotal Supplier Index which are...

Market prices make it possible to realise returns on capital investments in the electricity sector, but these prices may not necessarily be politically or socially acceptable. As a result, explicit or implicit price caps may be established. If these caps are effective, they may result in loss of...

We estimate the effects of electricity shortages on Indian manufacturers, instrumenting with supply shifts from hydroelectric power availability and power plant construction. We estimate that India’s average reported level of shortages reduces the average plant’s revenues and producer...

Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. The Smart Grid is a set of emerging technologies that, among other effects, will facilitate "real-time pricing" for electricity and increase price...

The application of Nash bargaining solution to profit division in negotiation between opencast lignite mine and power plant has been discussed. Different proposals of status quo point usage and ways of its determination for profit sharing both in strategic and tactical/operational negotiation...

With the ongoing liberalization and integration of European energy markets and the increasing worries about security of supply, the need for thorough economic analysis of electricity markets is growing. Elmar is a model for the European electricity market, taking into account imperfect...

Electricity from renewable sources often cannot be generated when and where it is needed. To deal with these temporal and spatial discrepancies, one frequently proposed approach is to expand storage capacities and transmission grids. It is often argued that the two technologies substitute each...