The Elmar model: output and capacity in imperfectly competitive electricity markets

Arie ten Cate and Mark Lijesen

No 94, CPB Memorandum from CPB Netherlands Bureau for Economic Policy Analysis

Abstract: With the ongoing liberalization and integration of European energy markets and the increasing worries about security of supply, the need for thorough economic analysis of electricity markets is growing. Elmar is a model for the European electricity market, taking into account imperfect competition through conjectural variations, as well as imperfect international competition due to import capacity restrictions. The model distinguishes between competition on the output market and competition in capacity investments. We find that the least competitive of these determines wholesale prices.

JEL-codes: D21 D24 D43 L13 L94 Q41 (search for similar items in EconPapers)
Date: 2004-09
New Economics Papers: this item is included in nep-com and nep-mic
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Citations: View citations in EconPapers (7)

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