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Market power and network constraint in a deregulated electricity market.
From:
The Energy Journal
| Date:
April 1, 2007| Author:
Cho, In-Koo; Kim, Hyunsook
| COPYRIGHT 2007 International Association for Energy Economics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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This paper investigates the market power and the welfare performance of the deregulated wholesale electricity market of California between 1998 and 2000 by incorporating the structure of the transmission network. While Wolfram (1999), Borenstein, Bushnell, and Wolak (2002) and Joskow and Kahn (2002) treat the difference between the market price and the marginal production cost of the marginal generator as the indicator for market power, we decompose the difference into the market p...
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