Strategic Price Risk in the Wholesale Power Markets

Content

• Preface VII
• Executive Summary IX
• 1: Electricity Markets are Different
• 2: The Persistence of Market Power
  • Introduction
  • Latent market power and market concentration
  • Latent market power in the UK duopoly
  • Comments on latent market power analysis
• 3: Simulating Dynamic Market Behaviour
  • Introduction
  • Computational details of the agent-based simulation model
  • Application to the England and Wales Pool
• 4: New Models for New Markets
  • Introduction
  • The agent-based simulation model
  • Simulation insights
  • Explaining the results
  • Conclusions
• 5: Market Structure Is Fundamental
  • Introduction
  • Using agent-based simulation
  • Analysis of the 1999 plant divestment issue in England and Wales
  • Summary and conclusions
• 6: Market Power in European Electricity
  • Lessons from the UK market
  • Development of EU electricity market legislation
  • Background to the liberalisation of the EU electricity market
  • Potential sources of residual market power
  • Mitigating the effects of market power
  • Conclusion
• Appendix 1: Main Sources of Statistics1 Prices and Legislation
  • Appendix 2: Abbreviations and Acronyms