The electricity market has since 1980s been gradually evolving from a monopoly market into a liberalized one for encouraging competition and improving efficiency. This brings the …
S Stoft - Journal of Energy Literature, 2002 - ndl.ethernet.edu.et
My original purpose in writing this book was to collect and present the basic economics and engineering used to design power markets. My hope was to dispel myths and provide a …
PL Joskow - The Energy Journal, 2008 - journals.sagepub.com
This paper discusses the lessons learned from electricity sector liberalization over the last 20 years. The attributes of reform models that have exhibited good performance attributes …
We present a method for decomposing wholesale electricity payments into production costs, inframarginal competitive rents, and payments resulting from the exercise of market power …
The trend towards competition in the electricity sector has led to efforts by the research community to develop decision and analysis support models adapted to the new market …
H Allcott - Resource and energy economics, 2011 - Elsevier
Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. This paper evaluates the first …
Spot power prices are volatile and since electricity cannot be economically stored, familiar arbitrage‐based methods are not applicable for pricing power derivative contracts. This …
CD Wolfram - American Economic Review, 1999 - aeaweb.org
This article presents an empirical study of market power in the British electricity industry. Estimates of price-cost markups are derived using direct measures of marginal cost and …
BE Hobbs - IEEE Transactions on power systems, 2001 - ieeexplore.ieee.org
Two Cournot models of imperfect competition among electricity producers are formulated as mixed linear complementarity problems (LCPs), and a simple example is presented to …