This paper uses a real options approach (ROA) for analysing the effects of government climate policy uncertainty on private investors' decision-making in the power sector. It presents an analysis undertaken by the International Energy Agency (IEA) that implements ROA within a dynamic programming...

Energy policy goals frequently depend upon investment in particular technologies, or categories of technology. Whilst the British government has often espoused the virtues of technological neutrality, UK policies now seek to promote nuclear power, coal with CO2 capture and storage, and renewable...

In competitive product markets, repeated interaction among producers with similar economic characteristics would be expected to result in convergence of their behaviors. If convergence does not occur, it raises fundamental questions related to the sustainability of heterogeneous competitive...

New results are presented relating to the integration of the French, German, British, Dutch and Spanish power markets at day-ahead, week-ahead, one month-ahead and two month-ahead lead times. Overall, there is evidence of market integration, increasing over time, despite an underlying...

This paper analyses the complex, non-linear effects of spot price drivers in wholesale electricity markets: their intra-day dynamics and transient irregularities. The context is the UK market, after the reforms introduced in March 2001, analysed with an original set of price drivers reflecting...