Can market power in the electricity spot market translate into market power in the hedge market?
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- 作者：Gabriel Godofredo Fiuza de Braganç ; aa ; b ; gabriel.fiuza@ipea.gov.br" class="auth_mail" title="E-mail the corresponding author ; Toby Daglishc
- 关键词：Electricity ; Market structure ; Hybrid models ; Wholesale markets ; Forward contracts ; Commodity pricing
- 刊名：Energy Economics
- 出版年：2016
- 出版时间：August 2016
- 年：2016
- 卷：58
- 期：Complete
- 页码：11-26
- 全文大小：1307 K
文摘
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Models an electricity wholesale market where traders hold forward contracts
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Electricity market is cleared using a uniform price auction.
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Derives the forward curve for electricity prices based on spot market equilibrium
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Shows how this relates to market power and risk-aversion
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Calibrates the model to NZEM data