Signaux-prix et équilibre de long terme: reconsidérer les formes d'organisation sur les marchés de l'électricité

Dominique Finon, Christophe Defeuilley and Frédéric Marty

Economie & Prévision, 2011, vol. n° 197-198, issue 1, 81-104

Abstract: The decentralised electricity market model illustrates several market flaws in the linkage between short-term and long-term decisions. Because of highly specific problems of risk management and market incompleteness, the model does not allow effective allocation of investment in base-load and peak-load capacities leading to an optimal generation system. This makes it necessary to (1) establish regulations to provide a credible basis for remunerating generation capacity, so as to create incentives for investment in peak-load units; (2) accept vertical arrangements enabling operators to share risk with consumers, even if these arrangements constitute market imperfections that will constrain competition.

Keywords: markets; investment; risk management; contracts; vertical integration (search for similar items in EconPapers)
Date: 2011
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Related works:
Journal Article: Signaux-prix et équilibre de long terme: reconsidérer les formes d’organisation sur les marchés de l’électricité (2011)
Working Paper: Signaux-prix et équilibre de long-terme: reconsidérer les formes d'organisation sur les marchés de l'électricité (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:cai:ecoldc:ecop_197_0081

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