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) monopoly thesis. Recently, however, a trend towards deregulation of such industries has been observed. This trend started with … the economies of scale have disappeared as a result of emerging new technologies. The successful deregulation in … substantial. Moreover, in addition to the deregulation process, the electricity sector is also subject to other changes such as …
Persistent link: https://www.econbiz.de/10003285766
An important goal of the European Commission is the promotion of the internal energy market (here specifically electricity), which requires sufficient and adequate cross-border interconnector capacity. However, cross-border interconnector capacity is scarce and, more importantly, the progress of...
Persistent link: https://www.econbiz.de/10011797725
The German response to the Fukushima nuclear power plant incident was possibly the most significant change of policy towards nuclear power outside Japan, leading to a sudden and very significant shift in the underlying power generation structure in Germany. This provides a very useful natural...
Persistent link: https://www.econbiz.de/10010388537
This paper looks at the restructuring of European electricity markets that has been taking place since the 1990s. This liberalisation process, driven largely by EU legislation aiming to create a single market for electricity, has led to significant changes in how electricity markets in member...
Persistent link: https://www.econbiz.de/10011281293
The United States' greenhouse gas mitigation strategy decentralizes mitigation responsibility to the states and states have primary regulatory jurisdiction over electrical power utilities. Using the biophysical approach, this paper introduces the notion of hydrocarbon infrastructure. Focusing on...
Persistent link: https://www.econbiz.de/10011458199
The German energy transition massively alters the market structure of electricity supply and forces incumbent electric utilities to rethink their business strategies. We analyze three main developments that undermine the former market dominance of the “Big 4” incumbents in Germany. First,...
Persistent link: https://www.econbiz.de/10011450933
I extend multi-unit auction estimation techniques to a setting in which firms can express cost complementarities over time. In the context of electricity markets, I show how the auction structure and bidding data can be used to estimate these complementarities, which in these markets arise due...
Persistent link: https://www.econbiz.de/10010356362
The interdependence of electricity and natural gas is becoming a major energy policy and regulatory issue in all jurisdictions around the world. The increased role of gas fired plants in renewable-based electricity markets and the dependence on gas imports make this issue particular striking for...
Persistent link: https://www.econbiz.de/10010232414
A capacity mechanism next to the energy-only market provides necessary investment incentives that spot markets lack. The adequate capacity mix can only be achieved by accounting for the current transition phase to electricity generation with a growing share of renewables. We show that an...
Persistent link: https://www.econbiz.de/10010380586
Prices may differ between regional markets if transport capacities are limited. We develop a new approach to determine to which extent such differences stem from limited participation in cross-border trader rather than from bottlenecks. We derive a theoretical integration benchmark for the...
Persistent link: https://www.econbiz.de/10010365847