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QUANTIFYING MARKET POWER IN THE GERMAN WHOLESALE ELECTRICITY MARKET USING A DYNAMIC MULTI-REGIONAL DISPATCH MODEL -super-*

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  • FELIX MÜSGENS
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    Abstract

    This paper quantifies the degree of market power in the German wholesale electricity market. A dispatch model simulates competitive marginal costs. In addition to common input factors like plant capacities, fuel prices and load structures, the model also incorporates international power exchange and dynamic effects like start-up costs and hydro storage plant dispatch. The simulated prices are subsequently used as a benchmark for observed electricity prices. The analysis reveals significant market power in the German electricity market, mainly exhibited during peak periods. Producer surplus is also increased significantly due to strategic behavior. Copyright Blackwell Publishing Ltd. 2006.

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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-6451.2006.00297.x
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    Bibliographic Info

    Article provided by Wiley Blackwell in its journal The Journal of Industrial Economics.

    Volume (Year): 54 (2006)
    Issue (Month): 4 (December)
    Pages: 471-498

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    Handle: RePEc:bla:jindec:v:54:y:2006:i:4:p:471-498

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    Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821

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    Cited by:
    1. Egil Ferkingstad & Anders L{\o}land & Mathilde Wilhelmsen, 2011. "Causal modeling and inference for electricity markets," Papers 1110.5429, arXiv.org.
    2. Paulus, Moritz & Trueby, Johannes & Growitsch, Christian, 2011. "Nations as Strategic Players in Global Commodity Markets: Evidence from World Coal Trade," EWI Working Papers 2011-4, Energiewirtschaftliches Institut an der Universitaet zu Koeln.
    3. Janssen, Matthias & Wobben, Magnus, 2008. "Electricity pricing and market power: Evidence from Germany," CAWM Discussion Papers 9, Center of Applied Economic Research Münster (CAWM), University of Münster.
    4. Richter, Jan, 2011. "A Unique Competitive Equilibrium on Interdependent Spot Electricity and Reserve Capacity Markets," EWI Working Papers 2011-9, Energiewirtschaftliches Institut an der Universitaet zu Koeln.

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