The EU Water Framework Directive stipulates the principle of cost recovery, including environmental and resource costs, for European water services. Yet a definition of member states' precise obligations is highly controversial. This particularly holds true for the question whether the request...

We study the strategic utilization of storage in imperfect electricity markets. We apply a game-theoretic Cournot model to the German power market and analyze different counterfactual and realistic cases of pumped hydro storage. Our main finding is that both storage utilization and...