Horizontal shifts in bid curves observed in wholesale electricity markets are consistent with Cournot competition …. Quantity competition reduces the informational requirements associated with evaluating market performance because the markups …

number of bidders are not enough warranty for fierce competition. Electricity forward-contract auctions may be uncompetitive … electricity demand, to meet supply adequacy problems. In this paper, we analyze what it requires to have a competitive auction …

marginal cost of suppliers. The leading example is the electricity industry, where there is a capacity market clearing before … the spot market. -- capacity market ; procurement auction ; electricity market ; competitive equilibrium …

One of the main elements of the current reform of electricity trading in the UK is the change from a uniform price … competitive and monopolistic supply), with demand uncertainty. We find that under perfect competition there is a direct trade …

before they buy electricity in the wholesale market, we show that welfare is highest if competition in generation and …This paper studies how competition and vertical structure jointly determine generating capacities, retail prices, and … welfare in the electricity industry. Analyzing a model in which demand is uncertain and retailers must commit to retail prices …