We develop an analytical model to derive the competitive market equilibrium for electricity spot and reserve markets … under stochastic demand and uncertain renewable electricity generation. We then derive the welfare-optimal provision of … growing share of renewable generation decreases the level of reliability as measured in energy not served. Additionally …

electricity market considering thermal generation costs, wholesale electricity prices and wind generation subsidies. A Monte Carlo …. Our results indicate that NAO phases can affect thermal generation costs by up to 8%, wholesale electricity prices by as …-western Europe. As the deployment of wind-powered generation expands on electricity networks across Europe the impacts of the NAO on …

tradeoff. Market-based prices can provide incentives to allocate resources more efficiently and reduce costs, but the presence … of market power may lead to increased markups. We use a detailed dataset on electricity transactions to investigate the … impact of market-based deregulation in the context of the U.S. electricity sector. We find that the increase in markups …