Working Paper No. 773

Market Power in the Nordic Wholesale Electricity Market: A Survey of the Empirical Evidence

Published: October 22, 2008Pages: 31Keywords: Electricity Markets; Deregulation; Market Power; Hydro Power; Transmission ConstraintsJEL-codes: L13; L94; Q41

Market Power in the Nordic Wholesale Electricity Market: A Survey of the Empirical Evidence Sven-Olof Fridolfsson and Thomas Tangerås


We review the recent empirical research concerning market power on the Nordic wholesale market for electricity, Nord Pool. There is no evidence of blatant and systematic exploitation of system level market power on Nord Pool. However, generation companies seem from time to time able to take advantage of capacity constraints in transmission to wield regional market power. Market power can manifest itself in a number of ways which have so far escaped empirical scrutiny. We discuss investment incentives, vertical integration and buyer power, as well as withholding of base-load (nuclear) capacity.

 

Thomas Tangerås

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Martin Ljunge, IFN, is the author of a chapter, "Trust promotes health: addressing reverse causality by studying children of immigrants", in a new book edited by Sherman Folland and Eric Nauenberg. The cutting edge of research is presented, covering the ever-expanding social capital field.

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