The European Directive on common rules for the internal market in electricity (2009/72/EC) requires all member states to 'ensure the implementation of intelligent metering systems' in order to foster a more active involvement of customers in the electricity market. Such intelligent metering...

We extend the theory of peak-load pricing by considering that the production with different technologies can be adjusted within their capacity at different speeds. In the established analysis, all production decisions can be made after the random variables realize. In our setting, in contrast,...

Most electricity systems face contractual fixed consumer prices in the short term, that is, load and price are fixed before the random supply of renewables like wind or solar realizes. Steam power plants also make production decisions before such a random supply realizes. These capacities cannot...

Increasing shares of intermittent renewable energies challenge the classical way to trade electricity ex-ante: Coal power plants and consumers cannot react to the stochastic element of renewables, whereas gas turbines can. We use a theoretical model to analyze consumer behavior and incentives of...

The energy transition brings various challenges of technical, economic and organizational nature. One major topic, especially in zonal electricity systems, is the organization of future congestion management. Local flexibility market (LFM) is an often discussed concept of market-based congestion...

Increasing shares of intermittent renewable energies challenge the dominant way to trade electricity ex-ante in forward, day-ahead, and intraday markets: Coal power plants and consumers cannot react to the stochastic element of renewables, whereas gas turbines can. We use a theoretical model to...

The case for regulating the Internet has not been made. Proposed rules mandating network neutrality are not in response to evidence of market failure or widespread consumer harm, could deter investment in broadband deployment, and raise First Amendment concerns. Regulatory advocates' assertions...

This paper extends a basic 'common agency' model of policy determination to a case of a policy vector where lobbies have oppposed interests in one of the instruments. Liberalisation takes the form of an entrant that has to access the incumbent's network, while the incumbent remains vertically...

The choice of infrastructure delivery through public versus private provision is driven by investment and operational efficiency, and cost of capital differentials. While the first two factors are measurable --- albeit with mixed results --- the appropriate discount rate instigates...

While the link between the ownership and productive efficiency of firms has been discussed extensively, no consensus exists regarding the superiority of one or the other in non-competitive, regulated environments. This paper applies a flexible production model to test for efficiency differences...