Abstract: In competitive electricity markets, markets designs based on power exchanges where supply bidding (barring demand-side bidding) is at the sole short run marginal cost may not guarantee resource adequacy. As alternative ways to remedy the resource adequacy problem, we focus on three...

Abstract: We analyze a two-stage game of strategic firms facing uncertain demand and exerting market power in decentralized electricity markets. These firms choose their generation capacities at the first stage while anticipating a perfectly competitive future electricity spot market outcome at...

We consider the effects of penetration of heat storage for space heating on the balance of payments. Although electric heating has low thermodynamic efficiency, it may be economically attractive because of the use of cheap fuels. Two operating modes are considered for controlling the heat...