The process of electricity production, distribution, and consumption represents a complex system with many heterogeneous characteristics. Physical constraints of the electricity, especially the difficulties with its storage, pose specific challenges on the structure of the power network and the...

One of the major changes in european electricity markets is - besides the increasing share of renewable infeed - the fact that previously independent market areas have been connected. Day-Ahead auctions are no longer done separately and available interconnector capacity are not always auctioned...

In electricity markets globally, market participants and policymakers increasingly focus on integrating adjacent, yet separate market areas via cross-border trade in electricity. Based on a discussion of the institutional framework for organizing cross-border trade, this paper analyzes how spot...

Electricity system operations are often affected by energy policies, but spatial differences in policy impacts are difficult to model. We develop a method for estimating zonal supply curves in transmission-constrained electricity markets that can be implemented quickly by policy analysts with...

By studying average variable costs, researchers examining the California energy crisis were sure to find examples of market power - even if that power may not have existed. By studying average variable costs, researchers examining the California energy crisis were sure to find examples of market...

This paper examines the time and frequency dynamics of connectedness between oil price shocks (demand and supply), and energy, electricity, carbon and clean energy markets using the methodology developed by Diebold and Yilmaz (2012) and Barunik and Krehlik (2018). The empirical findings show...

The European power grid can be divided into several market areas where the price of electricity is determined in a day-ahead auction. Market participants can provide continuous hourly bid curves and combinatorial bids with associated quantities given the prices. The goal of the auction is to...

This paper proposes a game-theoretic model to analyze the strategic behavior of inc-dec gaming in market-based congestion management (redispatch). We extend existing models by considering incomplete information about competitors’ costs and a finite set of providers. We find that these...

This paper proposes a game-theoretic model to analyze the strategic behavior of inc-dec gaming in market-based congestion management (redispatch). We extend existing models by considering incomplete information about competitors’ costs and a finite set of providers. We find that these...

In the wake of recent energy crisis, the importance of stable prices from long-term cross-border markets for consumers and instruments for market players to hedge against spot market volatility is greater still. This research proposes the Joint Energy and Transmission Right Auction (JETRA)...