European electricity markets are geographically organized in zones, which often resemble countries. Overload of power lines within zones have to be relieved through other means than the electricity market, e.g. so-called “redispatching” of power plants. Traditionally, this has often been...

In zonal electricity markets, such as Europe's, system operators relieve congested power lines within bidding zones using out-of-market measures. One such measure is "redispatching" power plants, i.e. increasing the output of one power station while decreasing the output of another....

The original full study analyses the ongoing reform of the European electricity market. Specific design instruments proposed by the European Commission and supported by the European Parliament amendments are assessed in detail. A novel approach to modelling financial flows in electricity markets...

The proposed reform of the electricity market design maintains crucial elements of the existing system to ensure continued efficient operation. The impact that changing the rules on longer-term contracts will have on consumer prices and investment will depend on the concrete language of proposed...