We develop a theoretical model of long-run investment decisions on capacity in the context of a liberalized electricity …

Motivated by the regulatory debate in electricity markets, we seek to understand how market design affects market …

The EU faces challenges in reforming the Gas and Electricity Directives to implement the single market in electricity …

Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers … will be allowed to choose their electricity supplier. This promises to result in lower prices, but there will be additional … are likely to be large transfers from electricity companies (and the coal industry) to consumers, but the companies lose …

Several regulatory authorities worldwide have recently imposed forward contract obligations on electricity producers as … bidding in electricity markets, or in any other auction-based market. For this purpose, we introduce forward contracts in a …

electricity pool and show that price-cost margins substantially increased with the 1996 merger that took the industry from a six …

This Paper discusses the electricity reforms in California and in England and Wales. In both cases, a centralized spot … evidence that future electricity restructuring should avoid the use of spot markets. Instead, the problems in England and Wales …

behavior of electricity generators and electricity consumers with market power in the electricity market. The paper extends the …