A model of market power in electricity i
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María-Soledad Arellano; Pablo Serra
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Article
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2007
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Elsevier Science
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English
⚖ 156 KB
This paper studies the exercise of market power in price-regulated electricity industries under peak-load pricing and merit order dispatching, but where investment decisions are taken by independent generating companies. Within this context, we show that producers can exercise market power by under-