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Markets for Electricity in Europe

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  • Richard Green

Abstract

Competition in the electricity industry requires properly functioning wholesale markets. This paper discusses the better-established electricity markets of Europe, in the Nordic countries, England and Wales, and Spain. The different market designs can all produce efficient outcomes, if not hindered by market power. Long-term contracts provide some defence against market power, and give price stability to promote investment. Competition in electricity retailing may discourage retailers from signing long-term contracts in future. Copyright 2001, Oxford University Press.

Suggested Citation

  • Richard Green, 2001. "Markets for Electricity in Europe," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 17(3), pages 329-345.
    • Handle: RePEc:oup:oxford:v:17:y:2001:i:3:p:329-345
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    Cited by:

    1. Ioannidis, Filippos & Kosmidou, Kyriaki & Makridou, Georgia & Andriosopoulos, Kostas, 2019. "Market design of an energy exchange: The case of Greece," Energy Policy, Elsevier, vol. 133(C).
    2. Heim, Sven & Götz, Georg, 2021. "Do Pay-As-Bid Auctions Favor Collusion? Evidence from Germany's market for reserve power," Energy Policy, Elsevier, vol. 155(C).
    3. Machiel Mulder & S. Speck, 2003. "Competition on European energy markets: between policy ambitions and practical restrictions," CPB Document 33.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    4. Al-Sunaidy, A. & Green, R., 2006. "Electricity deregulation in OECD (Organization for Economic Cooperation and Development) countries," Energy, Elsevier, vol. 31(6), pages 769-787.
    5. Raúl Bajo-Buenestado & Dodge Cahan, 2015. "Unification of Oligopolistic Markets for a Homogeneous Good in the Presence of an Antitrust Commission," Journal of Industry, Competition and Trade, Springer, vol. 15(3), pages 239-256, September.
    6. Graziella Marzi, 2003. "Luci ed ombre: concorrenza e regolazione nel settore elettrico. Gli orientamenti europei e nazionali," Working Papers 69, University of Milano-Bicocca, Department of Economics, revised Dec 2003.
    7. Xinmin Hu & Daniel Ralph & Eric K. Ralph & Peter Bardsley & Michael C. Ferris, 2004. "Electricity Generation with Looped Transmission Networks: Bidding to an ISO," Working Papers EP65, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    8. Chun Chun Ni, 2005. "Analysis of Applicable Liberalisation Models in China's Electric Power Market," Energy Working Papers 22008, East Asian Bureau of Economic Research.
    9. Mô Dolores Furió Ortega & Julio Lucia López, "undated". "Congestion management rules and trading strategies," Studies on the Spanish Economy 222, FEDEA.
    10. Angenendt, Nicole & Growitsch, Christian & Nepal, Rabindra & Müller, Christine, 2008. "Effizienz und Stabilität des Stromgroßhandelsmarktes in Deutschland: Analyse und wirtschafts-politische Implikationen," WIK Discussion Papers 317, WIK Wissenschaftliches Institut für Infrastruktur und Kommunikationsdienste GmbH.
    11. Furió, Dolores & Lucia, Julio J., 2009. "Congestion management rules and trading strategies in the Spanish electricity market," Energy Economics, Elsevier, vol. 31(1), pages 48-60, January.
    12. Finon, Dominique, 2006. "Incentives to invest in liberalised electricity industries in the North and South. Differences in the need for suitable institutional arrangements," Energy Policy, Elsevier, vol. 34(5), pages 601-618, March.

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