The Economics of Electricity Markets

Research papers

Working Papers

  1. Victor Ahlqvist, Pär Holmberg and Thomas Tangerås: Central- versus self-dispatch in electricity markets, IFN WP 1257, 2018
  2. Mahir Sarfati, Mohammad Reza Hesamzadeh and Pär Holmberg: Increase-decrease game under imperfect competition in two-stage zonal power markets –​ Part II: Solution algorithm, IFN WP 1254, 2018 
  3. Mahir Sarfati, Mohammad Reza Hesamzadeh and Pär Holmberg: Increase-decrease game under imperfect competition in two-stage zonal power markets –​ Part I: Concept analysis, IFN WP 1253, 2018 
  4. Lars Persson and Thomas Tangerås: Transmission network investment across national borders: The liberalized Nordic electricity market, IFN WP 1242, 2018
  5. Mohammad R. Hesamzadeh, Pär Holmberg and Mahir Sarfati: Simulation and evaluation of zonal electricity market designs, IFN WP 1211, 2018
  6. Erik Lundin and Thomas Tangerås: Cournot competition in wholesale electricity markets: The Nordic power exchange, Nord Pool, IFN WP 1191, 2017
  7. Thomas Tangerås and Frank A. Wolak: The competitive effects of linking electricity markets across space and time, IFN WP 1184, 2017 
  8. Mario Blazquez de Paz: Production or transmission investments? A comparative study, IFN WP 1158, 2017
  9. Erik Lundin: Effects of privatization on prices and labor efficiency: The Swedish electricity distribution sector, IFN WP 1139, 2016 
  10. Erik Lundin: Market power and joint ownership: Evidence from nuclear plants in Sweden, IFN WP 1113, 2016
  11. Mario Blaquez de Paz: Auction performance on wholesale electricity markets in the presence of transmission constraints and transmission costs, IFN WP 1098, 2015
  12. Ewa Lazarczyk: Private and public information on the Nordic intra-day electricity market, IFN WP 1064, 2015
  13. Sara Fogelberg and Ewa Lazarczyk: Strategic withholding through production failures, IFN WP1015, 2014
  14. Johannes Mauritzen: What happens when it's windy in Denmark? An empirical analysis of wind power on price variability in the Nordic electricity market, IFN WP 889, 2011
  15. Johanna Rickne: Oil prices and real exchange rate volatility in oil-exporting economies: The role of governance, IFN WP 810, 2009  

Publications in scientific journals

  1. Thomas Tangerås and Johannes Mauritzen: Real-time versus day-ahead market power in a hydro-based electricity market, Journal of Industrial Economics, forthcoming
  2. Shon Ferguson and Mark Sanctuary: Why is carbon leakage for energy intensive industry so hard to find? Environmental Economics and Policy Studies, forthcoming
  3. Pär Holmberg and Andy Philpott: On supply-function equilibria in radial networksEuropean Journal of Operational Research, Vol 271, Issue 3, December 2018, 985-1000
  4. Pär Holmberg and Frank A. Wolak: Electricity markets: Designing auctions where suppliers have uncertain costs, RAND Journal of Economics, Vol 49, Issue 4, Winter 2018, 995-1027
  5. Mario Blazquez de Paz: Electricity auctions in the presence of transmission constraints and transmission costs, Energy Economics, Vol 74, August 2018, 605-627
  6. Fridrik M. Baldursson, Ewa Lazarczyk, Marten Ovaere and Stef Proost: Cross-border exchange and sharing of generation reserve capacity, Energy Journal, Vol 39, July 2018, 57-84 
  7. Thomas Tangerås: Equilibrium supply security in a multinational electricity market with renewable production, Energy Economics, Vol 72, May 2018, 416-435
  8. Edward Anderson and Pär Holmberg: Price instability in multi-unit auctions, Journal of Economic Theory, Vol 175, May 2018, 318-341
  9. Keith Ruddell, Tony Downward and Andy Philpott: Market power and forward prices, Economics Letters, Vol 166, May 2018, 6-9
  10. Anna Grigoryeva, Mohammad R. Hesamzadeh and Thomas Tangerås:Energy system transition in the Nordic market: Challenges for transmission network regulation and governance, Economics of Energy & Environmental Policy, Vol 7, January 2018, 127-146  
  11. Pär Holmberg: Pro-competitive rationing in multi-unit auctions, Economic Journal, Vol 127, October 2017, F372-395
  12. Sara Fogelberg and Ewa Lazarczyk: Wind power volatility and its impact on failure rates in the Nordic electricity market, Renewable Energy, Vol 105, May 2017, 96-105 
  13. Ewa Lazarczyk: Market-specific news and its impact on forward premia on electricity markets, Energy Economics, Vol 54, February 2016, 326-336
  14. Thomas Tangerås: Renewable electricity policy and market integration, Energy Journal, Vol 36, No 4, 2015, 331-353
  15. Johannes Mauritzen: Now or later? Trading wind power closer to real-time: How poorly designed subsidies can lead to higher balancing costs, Energy Journal, Vol 36, No 4, 2015, 149-164
  16. Johannes Mauritzen: How electricity price spikes can help overcome the energy efficiency gapEconomics Letters, Vol 134, 2015, 114-117
  17. Pär Holmberg and Bert Willems: Relaxing competition through speculation: Committing to a negative supply slopeJournal of Economic Theory, Vol 159, Part A, 2015, 236-266
  18. Sven-Olof Fridolfsson and Thomas Tangerås: Nuclear capacity auctionsEnergy Journal, Vol 36, No 3, 2015, 247-261
  19. Pär Holmberg and Ewa Lazarczyk: Comparison of congestion management techniques: Nodal, zonal and discriminatory pricing, Energy Journal, Vol 36, No 2, 2015, 145-166
  20. Johannes Mauritzen: Scrapping a wind turbine: Policy changes, scrapping incentives and why wind turbines in good locations get scrapped first, Energy Journal, Vol 35, No 2, 2014, 159-183
  21. Pär Holmberg, David Newbery and Daniel Ralph: Supply function equilibria: Step functions and continuous representations, Journal of Economic Theory, Vol 148, Nr 4, July 2013, 1509-1551
  22. Sven-Olof Fridolfsson and Thomas Tangerås: A reexamination of renewable electricity policy in Sweden, Energy Policy, Vol 58, July 2013, 57-63
  23. Edward J. Anderson, Pär Holmberg and Andrew J. Philpott: Mixed strategies in discriminatory divisible-good auctions, RAND Journal of Economics, Vol 44, No 1, Spring 3013, 1-32
  24. Johannes Mauritzen: Dead battery? Wind power, the spot market, and hydro power interaction in the Nordic electricity market, Energy Journal, Vol 34, No 1, 2013, 103-123
  25. Thomas Tangerås: Optimal transmission regulation of an integrated energy marketEnergy Economics, Vol 34, Issue 5, September 2012, 1644-1655
  26. Pär Holmberg: Strategic forward contracting in the wholesale electricity marketEnergy Journal, Vol 32, No 1, 2011, 169-202
  27. Thomas Tangerås: Designing electricity auctions: Introduction and overview, Utilities Policy, Vol 18, Issue 4, December 2010, 163-164
  28. Pär Holmberg and David Newbery: The supply function equilibrium and its implications for electricity wholesale auctions, Utilities Policy, Vol 18, Issue 4, December 2010, 209-226
  29. Pär Holmberg: Numerical calculation of an asymmetric supply function equilibrium with capacity constraints, European Journal of Operational Research, Vol. 199, Issue 1, November 2009, 285-295
  30. Pär Holmberg: Supply function equilibria of pay-as-bid auctionsJournal of Regulatory Economics, Vol 36, No. 2, October 2009, 154-177
  31. Sven-Olof Fridolfsson and Thomas Tangerås: Market power in the Nordic electricity wholesale market: A survey of the empirical evidence, Energy Policy, Vol 37, Issue 9, September 2009, 3681-3692
  32. Thomas Tangerås: Yardstick competition and quality, Journal of Economics & Management Strategy, Vol 18, Issue 2, Summer 2009, 589-613
  33. Pär Holmberg: Unique supply function equilibrium with capacity constraints, Energy Economics, Vol 30, Issue 1, January 2008, pp. 148-172

International cooperation

Visiting researchers

Collaborating with others is essential for IFN as a research institute. Our researchers co-author articles with colleagues from other institutes, and many also teach at various universities and colleges.

As part of our extensive program of guest researchers, leading international researchers visit the institute. The visitors present and pursue their research as well as interact and cooperate with researchers at IFN.

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