We analyse in a theoretical framework the link between real-time and day-ahead market performance in a hydro-based and imperfectly competitive wholesale electricity market. Theoretical predictions of the model are tested on data from the Nordic power exchange, Nord Pool Spot (NPS).We reject the...

We analyze the pass-through of cost changes to retail tariffs in the German electricity market over the 2007 to 2014 period. We find an average pass-through rate of around 60%, which significantly varies with demand factors: while the pass-through rate to baseline tariffs, where firms have...

Analyzing commodity market dynamics, we observe that price volatility increases with reduced contract duration. In this paper, we derive a theoretical model depicting the price formation in two markets with altering product granularity. Supplemented by empirical evidence from German electricity...

We study the effects of different information structures (full information, supply uncertainty and demand uncertainty) on equilibrium prices, allocative efficiency and bidding behavior in a (supply-side) uniform-price multi-unit auction, using supply function competition and a novel experimental...

We have hypothesized that nuclear risk is significantly inversely related to the distance from residences to nuclear power plants and that the level of life satisfaction of residents therefore increases with the distance. We empirically explore the relationship between Ulsan citizens' life...

Since 2009, electricity consumption has developed a unique seasonal pattern in South Korea. Winter loads have sharply increased, and they eventually exceeded summer peaks. This trend reversal distinguishes these load patterns from those in the USA and the EU, where annual peaks are observed...

Hydro electricity generation is of great importance for the current and the future electricity system since it provides electricity without emitting CO2 and moreover hydro reservoirs offer high operational flexibility. With increasing shares of fluctuating renewable energies, their value is even...

We report results from a large field experiment that with a few hours prior notice provided Danish residential consumers with dynamic price and environmental signals aimed at causing them to shift their consumption either into or away from certain hours of the day. The same marginal price signal...

In theory real time pricing ensures more efficient electricity markets than time of use pricing. However, people are prone to habits and regularity, so real time pricing may impose a greater cost of reacting on consumers. In a randomized field experiment we compared the cost of reacting to...

Are nuclear power plant outages in France contagious to the German electricity price? In the case of the extensive inspections from October 2016 to February 2017 in 12 French nuclear power plants: Yes. This capacity shock increased the French electricity spot market price by 14.15 Euros per MWh....