Measuring market power in electricity generation: A long-term perspective using a programming model

Tamaschke, R., Docwra, G. and Stillman, R. (2005) Measuring market power in electricity generation: A long-term perspective using a programming model. Energy Economics, 27 2: 317-335. doi:10.1016/j.eneco.2005.01.001


Author Tamaschke, R.
Docwra, G.
Stillman, R.
Title Measuring market power in electricity generation: A long-term perspective using a programming model
Journal name Energy Economics   Check publisher's open access policy
ISSN 0140-9883
1873-6181
Publication date 2005-01-01
Sub-type Article (original research)
DOI 10.1016/j.eneco.2005.01.001
Volume 27
Issue 2
Start page 317
End page 335
Total pages 19
Editor D. Bunn
Place of publication Amsterdam, Netherlands
Publisher Elsevier BV
Collection year 2005
Language eng
Subject C1
350299 Business and Management not elsewhere classified
340205 Industry Economics and Industrial Organisation
650399 Energy minerals not elsewhere classified
Abstract This paper focuses on measuring the extent to which market power has been exercised in a recently deregulated electricity generation sector. Our study emphasises the need to consider the concept of market power in a long-run dynamic context. A market power index is constructed focusing on differences between actual market returns and long-run competitive returns, estimated using a programming model devised by the authors. The market power implications of hedge contracts are briefly considered. The state of Queensland Australia is used as a context for the analysis. The results suggest that generators have exercised significant market power since deregulation.
Keyword Economics
Market Power
Electricity
Generation
Economic
Long-run
Modelling
Queensland
Australia
Spot Market
Empirical-analysis
Competition
Industry
England
Wales
Q-Index Code C1
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
2006 Higher Education Research Data Collection
UQ Business School Publications
 
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Created: Wed, 15 Aug 2007, 15:23:38 EST