The Electricity Market Game
AbstractThis 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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Bibliographic InfoPaper provided by Carnegie Mellon University, Tepper School of Business in its series GSIA Working Papers with number 2003-E17.
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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/
Other versions of this item:
- NEP-ALL-2004-12-12 (All new papers)
- NEP-COM-2004-12-12 (Industrial Competition)
- NEP-ENE-2004-12-12 (Energy Economics)
- NEP-IND-2004-12-12 (Industrial Organization)
- NEP-MIC-2004-12-12 (Microeconomics)
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- Nasiri, Fuzhan & Zaccour, Georges, 2009. "An exploratory game-theoretic analysis of biomass electricity generation supply chain," Energy Policy, Elsevier, vol. 37(11), pages 4514-4522, November.
- Balasko, Yves, 2008. "On the satisfaction of peak demand in the certainty case," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 569-574, July.
- 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).
- Hoel, Michael, 2004. "Electricity prices in a mixed thermal and hydropower system," Memorandum 28/2004, Oslo University, Department of Economics.
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