International Perspectives on Electricity Market Monitoring and Market Power Mitigation

García José A. and Reitzes James D. ()
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García José A.: The Brattle Group
Reitzes James D.: The Brattle Group

Review of Network Economics, 2007, vol. 6, issue 3, 28

Abstract: We review the different market monitoring and market-power mitigation policies that arise in world electricity markets. Regulators for electricity markets apparently respond to differences in underlying market structure and design features when choosing between ex-ante (that is, rule-based) behavioral restrictions as opposed to ex-post enforcement (that is, investigations and sanctions) as the principal means for deterring abuses of market power. Particular design features that influence market-monitoring policies are whether the market is one-part (energy only) versus two-part (energy and capacity), and whether there is centralized or bilateral trading. Information-disclosure requirements also are a key element of market monitoring.

Date: 2007
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DOI: 10.2202/1446-9022.1127

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