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An Assessment Of The Deregulation Of Electric Power Generation Using Network Models Of Imperfect Spatial Markets

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  • Benjamin F. Hobbs
  • Richard E. Schuler

Abstract

ABSTRACT Proposals have been made to deregulate the generation of electric power. But unregulated generators would be spatial oligopolists, because transmission costs would insulate them from competition from distant producers. The purpose of this analysis is to estimate the degree to which unregulated power generators would be able to exercise market power. This is accomplished by calculating spatial price equilibria for a hypothetical deregulated power market in New York state. Two types of equilibria arc calculated: Nash/Bertrand equilibria, representing a lower bound to unregulated prices, and limit pricing, defining an upper bound. Equilibria are obtained for the years 1980 and 2000.

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  • Benjamin F. Hobbs & Richard E. Schuler, 1985. "An Assessment Of The Deregulation Of Electric Power Generation Using Network Models Of Imperfect Spatial Markets," Papers in Regional Science, Wiley Blackwell, vol. 57(1), pages 75-89, January.
    • Handle: RePEc:bla:presci:v:57:y:1985:i:1:p:75-89
    DOI: 10.1111/j.1435-5597.1985.tb00859.x
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    Cited by:

    1. Salerian, John & Gregan, Tendai & Stevens, Ann, 2000. "Pricing in Electricity Markets," Journal of Policy Modeling, Elsevier, vol. 22(7), pages 859-893, December.
    2. Markus Ksoll, 2001. "Two stages of uniform delivered pricing and a monopolistic network in competitive electricity markets," ERSA conference papers ersa01p280, European Regional Science Association.
    3. Berry, Carolyn A. & Hobbs, Benjamin F. & Meroney, William A. & O'Neill, Richard P. & StewartJr, William R., 1999. "Understanding how market power can arise in network competition: a game theoretic approach," Utilities Policy, Elsevier, vol. 8(3), pages 139-158, September.
    4. Neuhoff, Karsten & Barquin, Julian & Boots, Maroeska G. & Ehrenmann, Andreas & Hobbs, Benjamin F. & Rijkers, Fieke A.M. & Vazquez, Miguel, 2005. "Network-constrained Cournot models of liberalized electricity markets: the devil is in the details," Energy Economics, Elsevier, vol. 27(3), pages 495-525, May.
    5. Cardell, Judith B. & Hitt, Carrie Cullen & Hogan, William W., 1997. "Market power and strategic interaction in electricity networks," Resource and Energy Economics, Elsevier, vol. 19(1-2), pages 109-137, March.
    6. William W. Hogan, 1997. "A Market Power Model with Strategic Interaction in Electricity Networks," The Energy Journal, , vol. 18(4), pages 107-141, October.

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