Is vertical integration of mines and power plants profitable and for whom? Based on outcomes from the research of bilateral relation between lignite mines and power plant author describes several benefits from vertical integration including strategic benefits described by Porter and benefits...

In this paper we assess the short-term forecasting power of different time series models in the Nord Pool electricity spot market. We evaluate the accuracy of both point and interval predictions; the latter are specifically important for risk management purposes where one is more interested in...

Building on a framework that assesses the attractiveness of ‘political markets’ – where firms transact over public policies with government policy-makers – we develop hypotheses regarding the success or performance of firms’ nonmarket strategies. We propose that the ability of firms to...

System reliability is a key aspect of electricity supply, and the ability to maintain system reliability this is an important aspect of a liberalised electricity market. But system reliability can be ensured only if there is sufficient operating reserve capacity at all times. In a liberalised...

The process of deregulation in network industries, in particular in the electric sector, raises the problem of Þnancing the Universal Service Obligations (USO) corresponding to the production, transport and distribution operations. In this paper, we study three ways of funding for an USO of...

In this paper we analyze the time series of daily average prices generated in the Italian electricity market, which started to operate as a Pool in April 2004. The objective is to characterize the high degree of autocorrelation and multiple seasonalities in the electricity prices. We use...

Elmarknadsreformen är nu inne på sitt femte år och marknadens aktörer har, får man förmoda, hunnit anpassa sig till de nya förändrade förhållanden som råder. Inalles har det betytt att Sveriges, vid tidpunkten för avregleringen, ca 240 elleverantörer på olika sätt tvingats ta...

In recent years, the "private enforcement" of antitrust law, through the attempt by private parties (usually harmed competitors or consumers) to recover damages in court, has been increasingly gaining attention in Europe. This paper focuses on two particular regulated network industries...

Electricity regulators often mandate increasing-block pricing (IBP)—i.e., marginal price increases with the customer's average daily usage—to protect low-income households from rising costs. IBP has no cost basis, raising a classic conflict between efficiency and distributional goals....

Beginning in the late 1990s, electricity markets in many US states were deregulated, and almost half of the nation's 103 nuclear power reactors were sold to independent power producers. Deregulation has been accompanied by substantial market consolidation, and today the three largest companies...