Real‐Time Versus Day‐Ahead Market Power in a Hydro‐Based Electricity Market
Real‐Time Versus Day‐Ahead Market Power in a Hydro‐Based Electricity Market
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水力电力市场中的实时与日前市场电力
DOI：
10.1111/joie.12186
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发表时间：
2018
期刊：
影响因子：
--
通讯作者：
Johannes Mauritzen
中科院分区：
文献类型：
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作者：
Thomas P. Tangerås;Johannes Mauritzen
本文建立了一个理论框架来分析水电批发市场中实际时间和日竞争之间的联系。该模型的预测在北欧电力交易所Nord Pool的一组详细的交易和价格数据上进行了测试。我们研究了瑞典增加价格领域(当地市场)数量的改革前后的市场表现，并拒绝了瑞典一些价格领域完全竞争的假设。我们的结果表明，在样本期间，公司行使了一些当地的市场支配力。
This paper develops a theoretical framework to analyze the link between real‐time and day‐ahead competition in a hydro‐based wholesale electricity market. Predictions of the model are tested on a detailed data set of trades and prices from the Nordic power exchange, Nord Pool. We study market performance before and after a reform that increased the number of price areas (local markets) in Sweden, and reject the hypothesis of perfect competition in some of the Swedish price areas. Our results suggest that firms exercised some local market power during the sample period.