2011

Strategic Forward Contracting in the Wholesale Electricity Market

Reprint No. 2011:5

Author(s): Pär HolmbergYear: 2011 Title: Energy Journal Volume (No.): 32 (1) Pages: 169–202
Online article (restrictions may apply)


This paper analyses a wholesale electricity market with supply function competition. Trade in the forward and spot markets is represented by a two-stage game, and its subgame perfect Nash equilibrium (SPNE) is characterized. It is verified that increased forward sales of a producer constitute a credible commitment to aggressive spot market bidding. The paper identifies market situations when this pro-competitive commitment is unilaterally profitable for the producer. It is also proven that a producer has incentives to sell in the forward market in order to reduce competitors' forward sales, which softens their spot market offers.


Reference:
Holmberg, Pär (2011), "Strategic Forward Contracting in the Wholesale Electricity Market". Energy Journal 32(1), 169–202.

Pär Holmberg

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Integrating Immigrants into the Nordic Labour Markets

An Overall Perspective

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Denmark, Finland, Norway and Sweden face similar problems of integrating large groups of immigrants, especially low-educated ones from outside the EU, into their labour markets. In this volume, edited by Lars Calmfors, IFN, and Nora Sánchez Gassen in cooperation with researchers from across the Nordic Region analyse how labour market integration of immigrants can be promoted. 

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