Tag Archives: wp-2003

EP 31

Andreas Ehrenmann, Karsten Neuhoff

A comparison of electricity market designs in networks

EP 31  | Non-Technical Summary | PDF

Abstract: In the real world two classes of market designs are implemented to trade electricity in transmission constrained networks. Analytical results show that in two node networks integrated
market designs reduce the ability of electricity generators to exercise market power relative to separated market designs. In multi node networks countervailing effects make an analytic analysis difficult. We present a formulation of both market designs as an equilibrium problem with equilibrium constraints. We find that in a realistic network, prices are lower with the integrated market design.

EP 29

Gert Brunekreeft Market-Based Investment in Electricity Transmission Networks: Controllable Flow EP 29  | Non-Technical Summary | PDF Abstract: This paper discusses unregulated market-based electricity transmission investment by third parties as opposed to regulated investment by designated transmission system operators. The analysis is set against a European and Australian institutional background and focuses on interconnection of… Read more

EP 28

Paul Joskow The Difficult Transition to Competitive Electricity Markets in the US EP 28 | Non-Technical Summary | PDF Abstract: This paper discusses the causes and consequences of state and federal initiatives to introduce wholesale and retail competition into the U.S. electricity sector from 1995. The development and performance of wholesale market institutions, the expansion… Read more

EP 27

M Soledad Arellano Diagnosing and Mitigating Market Power in Chile’s Electricity Industry EP 27  | Non-Technical Summary | PDF Abstract: This paper examines generators’ incentives to exercise market power and the strategies they would follow if all electricity supplies were traded in an hourly-unregulated spot market. The industry is modelled as a Cournot duopoly with… Read more

EP 26

Joanne Evans, Richard Green Why Did British Electricity Prices Fall after 1998? EP 26  | Non-Technical Summary | PDF Abstract: In an attempt to reduce high electricity prices in England and Wales the government has reduced concentration among generators and introduced New Electricity Trading Arrangements (NETA). Econometric analysis on monthly data from April 1996 to… Read more

EP 24

Paul Joskow, Jean Tirole Merchant Transmission Investment EP 24  | Non-Technical Summary | PDF Abstract: We examine the performance attributes of a merchant transmission investment framework that relies on ‘market driven’ transmission investment to provide the infrastructure to support competitive wholesale markets for electricity. Under a stringent set of  assumptions, the merchant investment model appears… Read more

EP 23

Natsuko Toba Welfare Impacts of Electricity Generation Sector Reform in the Philippines EP 23  | Non-Technical Summary | PDF Abstract: This paper reports an empirical investigation into the welfare impacts of an introduction of private sector participation into the Philippines electricity generation sector, by liberalizing the market for independent power producers (IPPs) during the power… Read more

EP 22

O Daxhelet, Y Smeers Cross-Border Trade: A Two-Stage Equilibrium Model of the Florence Regulatory Forum Proposals EP 22  | Non-Technical Summary | PDF Abstract: Journal: Published as: The EU regulation on crossnext term-border trade of electricity: A two-stage equilibrium model European Journal of Operational Research, Forthcoming Read more

EP 21

Dominique Finon Introducing Competition in the French Electricity Supply Industry: The Destablisation of a Public Hierarchy in an Open Institutional Environment EP 21  | Non-Technical Summary | PDF Abstract: The French electricity supply industry is characterized by a vertically integrated monopoly and public ownership and when the government introduced market rules, it was with the… Read more

EP 20

Jean-Michel Glachant, Virginie Pignon Nordic Electricity Congestion’s Arrangement as a Model for Europe: Physical Contraints or Operators’ Opportunity EP 20 | Non-Technical Summary | PDF Abstract: Congestion on power grids seems a physical reality, a “hard” fact easy to check. Our paper models a different idea: congestion signal may be distorted by transmission system operators… Read more

EP 19

Tooraj Jamasb, Paul Nillesen, Michael Pollitt Strategic Behaviour under Regulation Benchmarking EP 19  | Non-Technical Summary | PDF Abstract: Liberalisation of generation and supply activities in the electricity sectors is often followed by regulatory reform of distribution networks. In order to improve the efficiency of distribution utilities, some regulators have adopted incentive regulation schemes that… Read more

EP 18

Marija Ilic, Eric Hsieh, Prasad Remanan Transmission Pricing of Distributed Multilateral Energy Transactions to Ensure System Security and Guide Economic Dispatch EP 18  | Non-Technical Summary | PDF Abstract: In this paper we provide a simulations-based demonstration of a hybrid electricity market that combines the distributed competitive advantages of decentralized markets with the system security… Read more