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The Electricity Market Game

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Author Info
Stephen Spear

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Abstract

This paper examines the effects of imperfect competition in unregulated electricity markets from a general equilibrium perspective, and demonstrates that horizontal market power can explain both the large peak-period price spikes observed recently in California and elsewhere, and the marked reduction in additions to capacity that have also occurred during the transition to competitive markets.

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File URL: http://littlehurt.gsia.cmu.edu/gsiadoc/wp/2003-E17.pdf
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Paper provided by Carnegie Mellon University, Tepper School of Business in its series GSIA Working Papers with number 2003-E17.

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Handle: RePEc:cmu:gsiawp:182825725

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Postal: Tepper School of Business, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh, PA 15213-3890
Web page: http://www.tepper.cmu.edu/

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Web: http://server1.tepper.cmu.edu/gsiadoc/GSIA_WP.asp

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  1. Bertrand Crettez & Marie-Cécile Fagart, 2008. "Does entry improve welfare? A general equilibrium approach to competition policy," EconomiX Working Papers 2008-14, University of Paris West - Nanterre la Défense, EconomiX. [Downloadable!]
  2. Nicholas Shunda, 2005. "Strategic Behavior in Day-Ahead and Real-Time Markets for Electricity: Offer Cost or Payment Cost Minimization?," Working papers 2005-48, University of Connecticut, Department of Economics. [Downloadable!]
  3. repec:mop:credwp:04.10.51 is not listed on IDEAS
  4. Aitor Ciarreta & Maria Paz Espinosa, 2005. "A Supply Function Competition Model for the Spanish Wholesale Electricity Market," DFAEII Working Papers 200518, University of the Basque Country - Department of Foundations of Economic Analysis II. [Downloadable!]
  5. Aitor Ciarreta & María Paz Espinosa, 2003. "Market Power In The Spanish Wholesale Electricity Market," Working Papers. Serie AD 2003-22, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  6. Hoel, Michael, 2004. "Electricity prices in a mixed thermal and hydropower system," Memorandum 28/2004, Oslo University, Department of Economics. [Downloadable!]
  7. Aitor Ciarreta & Mari Paz Espinosa, 2005. "Market Power in the Spanish Electricity Auction," DFAEII Working Papers 200504, University of the Basque Country - Department of Foundations of Economic Analysis II. [Downloadable!]
  8. Vicki Knoblauch, 2004. "Can a Newly Proposed Mechanism for Allocating Contracts in U.S. Electricity Wholesale Markets Lead to Lower Prices? A Game Theoretic Analysis," Working papers 2004-41, University of Connecticut, Department of Economics, revised Mar 2006. [Downloadable!]
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This page was last updated on 2009-11-24.

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