presented and the diversity of implied price and income elasticities is emphasized. Both gas and electricity are found to be …, electricity and a composite good, "other fuels". This composite good is subject to such large measurement errors in the data set … and electricity consumption and it is shown how the model's structural parameters, i.e. those of household preferences …

Motivated by the regulatory debate in electricity markets, we seek to understand how market design affects market … elements, including (i) two commonly used auction formats, the uniform-price and discriminatory auctions, (ii) price-caps and … discriminatory auction induces (weakly) stronger investment incentives than the uniform-price format. …

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 …

price-insensitive retail consumers, but when their load serving entities can choose any level of rationing they prefer … achieve this optimal price and investment program. The paper analyses the implications of relaxing several of these … assumptions. First, it analyzes the interrelationships between regulator-imposed price caps and capacity obligations. It goes on …

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

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 … uniform-price multi-unit auction model with complete information. We find that forward contracts are pro-competitive when …