Understanding Competitive Pricing and Market Power in Wholesale Electricity Markets
Understanding Competitive Pricing and Market Power in Wholesale Electricity Markets
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了解批发电力市场的竞争性定价和市场力量
DOI：
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发表时间：
1999
期刊：
影响因子：
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通讯作者：
S. Borenstein
中科院分区：
文献类型：
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作者：
S. Borenstein
关于重组电力市场竞争的讨论揭示了对市场力的定义、诊断和影响的许多误解。在本文中，我试图阐明市场力量的含义，并展示如何将其与具有严重短期供应限制的市场中的竞争性定价区分开来。我还阐述了关于市场力量的两个常见误解：（a）它存在于所有市场中；（b）它必须存在才能使企业在固定成本较高的市场中保持盈利。我最后认为，虽然发现一个行业的市场力量并不一定表明政府干预是有道理的，但这种分析是制定健全公共政策的重要组成部分。
Discussions of competition in restructured electricity markets have revealed many misunderstandings about the definition, diagnosis, and implications of market power. In this paper, I attempt to clarify the meaning of market power and show how it can be distinguished from competitive pricing in markets with significant short-run supply constraints. I also address two common myths about market power: (a) that it is present in all markets and (b) that it must be present in order for firms to remain profitable in markets with significant fixed costs. I conclude by arguing that, while a finding of market power in an industry does not necessarily indicate that government intervention is warranted, such analysis is an important part of creating sound public policy.