Increased competition in bulk power and retail electricity markets is likely to lower electricity prices, but will also result in greater price volatility as the industry moves away from administratively determined, cost-based rates and encourages market-driven prices. Price volatility...

Does the project of acquisition of Endesa, one of the two largest Spanish electricity producers, by Gas Natural, the natural gas Spanish incumbent, raise risks of anticompetitive effects? What remedies may eliminate them, if any? Spanish Authorities have to give answer to both questions to clear...

A firm energy market for Colombia is presented. Firm energy—the ability to provideenergy in a dry period—is the product needed for reliability in Colombia’s hydrodominatedelectricity market. The firm energy market coordinates investment in newresources to assure that sufficient firm energy...

We present a simulation analysis of the proposed Colombian firm energy market. The mainpurpose of the simulation is to assess the risk to suppliers of participation in the market. We alsoare able to consider variations in the market design, and assess the impact of alternative...

Wholesale electricity markets are commonly organized around a spot energy market.Buyers and suppliers submit bids and offers for each hour and the market is cleared atthe price that balances supply and demand. Buyers with bids above the clearing pricepay that price, and suppliers with offers...

We argue that a capacity market is needed in most restructured electricitymarkets, and present a design that avoids problems found in the early capacitymarkets. The proposed market only rewards capacity that contributes toreliability as demonstrated by its performance during hours in which there...

"Instead of outbidding each other and driving prices up," on 25 March, the 27 EU nations decided to "pool [their] purchasing power" for the "voluntary common purchase of gas". In short, they decided to form a buyers' cartel. So far, difficulties have been identified, but what is needed is a...

Evaluations of renewable fuel standards typically compute the reduction in global greenhouse gas emissions based on the amount of fossil fuel “displaced.” However they universally fail to provide any explanation of how displaced fuel stops the production of fossil fuel. In spite of this,...