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Market Power in the Nordic Wholesale Electricity Market: A Survey of the Empirical Evidence

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Author Info

  • Fridolfsson, Sven-Olof

    ()
    (Research Institute of Industrial Economics (IFN))

  • Tangerås, Thomas

    ()
    (Research Institute of Industrial Economics (IFN))

Abstract

We review the recent empirical research concerning market power on the Nordic wholesale market for electricity, Nord Pool. There is no evidence of blatant and systematic exploitation of system level market power on Nord Pool. However, generation companies seem from time to time able to take advantage of capacity constraints in transmission to wield regional market power. Market power can manifest itself in a number of ways which have so far escaped empirical scrutiny. We discuss investment incentives, vertical integration and buyer power, as well as withholding of base-load (nuclear) capacity.

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Bibliographic Info

Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 773.

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Length: 31 pages
Date of creation: 22 Oct 2008
Date of revision:
Handle: RePEc:hhs:iuiwop:0773

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Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
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Fax: +46 8 665 4599
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Related research

Keywords: Electricity Markets; Deregulation; Market Power; Hydro Power; Transmission Constraints;

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Cited by:
  1. Edquist, Harald & Henrekson, Magnus, 2013. "Product Market Reforms and Incentives to Innovate in Sweden," Working Paper Series 986, Research Institute of Industrial Economics.

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