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Redesigning automated market power mitigation in electricity markets

Adelowo, Jacqueline; Bohland, Moritz - 2022

Electricity markets are prone to the abuse of market power. Several US markets employ algorithms to monitor and mitigate market power abuse in real time. The performance of automated mitigation procedures is contingent on precise estimates of firms' marginal production costs. Currently, marginal...

Persistent link: https://www.econbiz.de/10013460907

An Extended Multi-Factor Structural Model for the Electricity Market

Wottka, Thomas - 2017

This paper proposes an extended version of the analytical structural model for the electricity market developed in a previous paper. The presented electricity price process is driven by stochastic load and random plant availability as well as stochastic marginal generation cost factors embedded...

Persistent link: https://www.econbiz.de/10012970389

A Multi-Fuel Structural Model for the Electricity Market Applied to CHP Generation

Wottka, Thomas - 2017

This paper presents an analytical structural model for the electricity price process driven by stochastic load as well as stochastic marginal generation costs in a multi-fuel stack framework covering the entire fuel switch dynamics. Moreover, the random character of available generation capacity...

Persistent link: https://www.econbiz.de/10012972150

Deregulated Wholesale Electricity Prices in Italy

Bosco, Bruno; Parisio, Lucia; Pelagatti, Matteo M. - 2013

In this paper we analyze the time series of daily mean 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 periodic...

Persistent link: https://www.econbiz.de/10014059389

Mergers in Innovative Industries : The Role of Product Market Competition

Marshall, Guillermo - 2016

&D and consumer welfare in the long run, which is in contrast to arguments provided by antitrust agencies in recent merger … cases. We provide conditions for when a merger increases industry innovation and when evaluating mergers based on static … price effects is aligned with a fully dynamic merger evaluation. These conditions are based on properties of the product …

Persistent link: https://www.econbiz.de/10012985316

Market power in the England and Wales wholesale electricity market, 1995 - 2000

Sweeting, Andrew (contributor) - 2004

This paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second half of the 1990s despite declining market concentration. It examines whether this was consistent with static, non-cooperative oligopoly models, which are widely...

Persistent link: https://www.econbiz.de/10003231380

Using Virtual Bids to Manipulate the Value of Financial Transmission Rights

Ledgerwood, Shaun D. - 2012

In this paper, we present a straightforward economic model that explains the incentives to manipulate nodal energy prices in a “Day 2” RTO market. The model distinguishes between legitimate market participation that increases overall market efficiency and manipulative behavior that distorts...

Persistent link: https://www.econbiz.de/10013106996

Financial Arbitrage and Efficient Dispatch in Wholesale Electricity Markets

Parsons, John E. - 2015

Virtual bidding is a type of transaction introduced into wholesale electricity markets to improve competition and pricing. This paper analyzes the theory behind virtual bidding and describes circumstances under which it does not work as advertised. The case for virtual bidding is predicated on...

Persistent link: https://www.econbiz.de/10013026977

The impact of the regulatory reform process on R&D investment of European electricity utilities : conference paper

Schmitt, Stephan; Kucsera, Denes - 2013 - This version: 25.10.2012

The aim of this paper is to give deeper insights into the impact of regulatory reforms and privatization on R&D spending of electricity utilities. Building on a panel data set including the biggest European utilities from eight EU-countries over a period from 1985 until 2010, we find a strong...

Persistent link: https://www.econbiz.de/10010337284

Network unbundling and flawed coordination : lessons from electricity and railways

Brunekreeft, Gert - 2014

What is a good balance between competition and coordination in network industries? Network unbundling aims to promote competition, but this has to be balanced against the downside of unbundling: firm-internal coordination falls away and must be replaced by external market mechanisms. This is a...

Persistent link: https://www.econbiz.de/10010423547