Transparency in Electricity Markets
The European Commission is introducing new regulations on submission and publication of data in electricity markets (SPDEM) and on wholesale energy market integrity and transparency (REMIT). I discuss issues relevant for undertaking an evaluation such regulations. I argue that, for market performance, more information is not always better; indeed, more information may undermine market performance by facilitating behaviour that is either not cost efficient or aims at exercising market power or establishing and maintaining collusion. Moreover, ensuring rational economic behaviour and an efficient and competitive market outcome does not require general access to information at a very detailed level or with a high degree of immediacy. I conclude that to achieve the aims of efficiently functioning wholesale electricity markets, fair and non-discriminatory access to data and a coherent and consistent view of the European wholesale electricity market, it does not seem advisable to go quite so far with respect to immediacy and detail as intended by the new regulations.
|Date of creation:||22 May 2013|
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- Per Baltzer Overgaard & Peter Møllgaard, 2005.
"Information Exchange, Market Transparency and Dynamic Oligopoly,"
CIE Discussion Papers
2005-11, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
- Overgaard, Per Baltzer & Møllgaard, Peter, 2006. "Information Exchange, Market Transparency and Dynamic Oligopoly," Working Papers 13-2005, Copenhagen Business School, Department of Economics.
- Per Baltzer Overgaard & H. Peter Møllgaard, 2007. "Information Exchange, Market Transparency and Dynamic Oligopoly," Economics Working Papers 2007-03, School of Economics and Management, University of Aarhus.
- Robert H. Porter, 1983. "A Study of Cartel Stability: The Joint Executive Committee, 1880-1886," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 301-314, Autumn.
- H. Peter Møllgaard & Per Baltzer Overgaard, 2001.
"Market Transparency and Competition Policy,"
Rivista di Politica Economica,
SIPI Spa, vol. 91(4), pages 11-64, April-May.
- Møllgaard, H. Peter & Overgaard, Per Baltzer, 2001. "Market Transparency And Competition Policy," Working Papers 06-2001, Copenhagen Business School, Department of Economics.
- H. Peter Møllgaard & Per Baltzer Overgaard, 2001. "Market Transparency and Competition Policy," CIE Discussion Papers 2001-03, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
- Fuller, Stephen W. & Ruppel, Fred J. & Bessler, David A., 1990. "Effect Of Contract Disclosure On Price: Railroad Grain Contracting In The Plains," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(02), December.
- Albaek, Svend & Mollgaard, Peter & Overgaard, Per B, 1997.
"Government-Assisted Oligopoly Coordination? A Concrete Case,"
Journal of Industrial Economics,
Wiley Blackwell, vol. 45(4), pages 429-43, December.
- Svend Albæk & Peter Møllgaard & Per Baltzer Overgaard, 1997. "Government-Assisted Oligopoly Coordination? A Concrete Case," CIE Discussion Papers 1997-03, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
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