marginal cost and capacity. Increasing industry concentration by reallocating non-efficient capacity to the largest and most … reallocations, the standard monotonic relationship between concentration and prices re-emerges as competition weakens due to the … rival's lower capacity. Thus, we demonstrate a U-shaped relationship between market prices and industry concentration when …

The transformation of the electricity sector is a main element of the transition to a decarbonized economy … electricity storage and other options for providing temporal flexibility. We discuss the market dynamics of increasing VRE … penetration and their integration in the electricity system. We describe the merit-order effect (decline of wholesale electricity …