Real-time versus day-ahead market power in a hydro-based electricity market
Working paper
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http://hdl.handle.net/11250/194965Utgivelsesdato
2014-02Metadata
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Sammendrag
We analyse in a theoretical framework the link between real-time and day-ahead market
performance in a hydro-based and imperfectly competitive wholesale electricity market.
Theoretical predictions of the model are tested on data from the Nordic power exchange,
Nord Pool Spot (NPS).We reject the hypothesis that prices at NPS were at their competitive
levels throughout the period under examination. The empirical approach uses equilibrium
prices and quantities and does not rely on bid data nor on estimation of demand or marginal
cost functions.