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Liberalised Electricity Markets - Strengths and Weaknesses in Finland and Nordpool

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  • Heikki Kemppi
  • Adriaan Perrels

Abstract

This report gives an overview of the implications of electricity market liberalisation, with special reference to the Nordic market and Finland. The principal focus is on the functioning of the wholesale (generation) and retail (endusers) markets. Furthermore, the handling of risks and the interaction with various environmental policies receive special attention. Essentially the Nordic and Finnish electricity markets have been functioning reasonably well. Yet, under the pressure of the tight market in the winter of 2002, various shortcomings became more obvious. The re-attachment of the wholesale and retail market, inter alia through the (re)introduction of DSM, should be a prime concern. Other points of attention are - among others - the surveillance of the monopolistic services in the market and tendencies for vertical integration.

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Bibliographic Info

Paper provided by Government Institute for Economic Research Finland (VATT) in its series Research Reports with number 97.

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Date of creation: 23 Apr 2003
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Handle: RePEc:fer:resrep:97

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Keywords: Liberalisation; electricity market; Nordic; regulation;

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References

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  1. Joseph Eto & Suzie Kito & Leslie Shown & Richard Sonnenblick, 2000. "Where Did the Money Go? The Cost and Performance of the Largest Commercial Sector DSM Programs," The Energy Journal, International Association for Energy Economics, International Association for Energy Economics, vol. 0(Number 2), pages 23-49.
  2. Joskow, P.L. & Marron, D.B., 1991. "What does a Negawatt Really Cost?," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 596, Massachusetts Institute of Technology (MIT), Department of Economics.
  3. Andrew A. Goett & Kathleen Hudson & Kenneth E. Train, 2000. "Customers' Choice Among Retail Energy Suppliers: The Willingness-to-Pay for Service Attributes," The Energy Journal, International Association for Energy Economics, International Association for Energy Economics, vol. 0(Number 4), pages 1-28.
  4. de Jong, C.M. & Huisman, R., 2002. "Option Formulas for Mean-Reverting Power Prices with Spikes," ERIM Report Series Research in Management, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasm ERS-2002-96-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
  5. Amundsen, Eirik S. & Nesse, Arvid & Tjotta, Sigve, 1999. "Deregulation of the Nordic power market and environmental policy," Energy Economics, Elsevier, Elsevier, vol. 21(5), pages 417-434, October.
  6. Ramanathan, R, 2001. "Comparative Risk Assessment of energy supply technologies: a Data Envelopment Analysis approach," Energy, Elsevier, Elsevier, vol. 26(2), pages 197-203.
  7. John Bower & Derek W. Bunn, 2000. "Model-Based Comparisons of Pool and Bilateral Markets for Electricity," The Energy Journal, International Association for Energy Economics, International Association for Energy Economics, vol. 0(Number 3), pages 1-29.
  8. Pineau, Pierre-Olivier & Hamalainen, Raimo P., 2000. "A perspective on the restructuring of the Finnish electricity market," Energy Policy, Elsevier, Elsevier, vol. 28(3), pages 181-192, March.
  9. Thomas E. Hoff, 1997. "Using Distributed Resources to Manage Risks Caused by Demand Uncertainty," The Energy Journal, International Association for Energy Economics, International Association for Energy Economics, vol. 0(Special I), pages 63-84.
  10. Deepak Sharma and Robert Bartels, 1997. "Distributed Electricity Generation in Competitive Energy Markets: A Case Study in Australia," The Energy Journal, International Association for Energy Economics, International Association for Energy Economics, vol. 0(Special I), pages 17-40.
  11. Timothy J. Considine, 2000. "Cost Structures for Fossil Fuel-Fired Electric Power Generation," The Energy Journal, International Association for Energy Economics, International Association for Energy Economics, vol. 0(Number 2), pages 83-104.
  12. Salerian, John & Gregan, Tendai & Stevens, Ann, 2000. "Pricing in Electricity Markets," Journal of Policy Modeling, Elsevier, Elsevier, vol. 22(7), pages 859-893, December.
  13. Sulamaa, Pekka, . "Essays in Deregulated Finnish and Nordic Electricity Markets," ETLA A, The Research Institute of the Finnish Economy, The Research Institute of the Finnish Economy, number 34.
  14. Giulietti, Monica & Otero, Jesus, 2002. "The timing of tariff structure changes in regulated industries: evidence from England and Wales," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 13(1), pages 71-99, March.
  15. Mark Lijesen, 2002. "Welfare effects of vertical integration in energy distribution," CPB Memorandum, CPB Netherlands Bureau for Economic Policy Analysis 43, CPB Netherlands Bureau for Economic Policy Analysis.
  16. Vine, Edward & Hamrin, Jan & Eyre, Nick & Crossley, David & Maloney, Michelle & Watt, Greg, 2003. "Public policy analysis of energy efficiency and load management in changing electricity businesses," Energy Policy, Elsevier, Elsevier, vol. 31(5), pages 405-430, April.
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Cited by:
  1. Kinnunen, Kaisa, 2006. "Investment incentives: regulation of the Finnish electricity distribution," Energy Policy, Elsevier, Elsevier, vol. 34(7), pages 853-862, May.
  2. Lehto, Eero, 2011. "Electricity prices in the Finnish retail market," Energy Policy, Elsevier, Elsevier, vol. 39(4), pages 2179-2192, April.

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