The Economics of Electricity Markets

Research papers


Working Papers

  1. Pär Holmberg and Robert A. Ritz: Capacity mechanisms and the technology mix in competitive electricity markets. IFN WP 1292, 2019
  2. Mario Blázquez de Paz: Redispatch in zonal pricing electricity markets, IFN WP 1278, 2019
  3. Mahir Sarfati, Mohammad Reza Hesamzadeh and Pär Holmberg: Production efficiency of nodal and zonal pricing in imperfectly competitive electricity markets, IFN WP 1264, 2019 
  4. Victor Ahlqvist, Pär Holmberg and Thomas Tangerås: Central- versus self-dispatch in electricity markets, IFN WP 1257, 2018
  5. 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 
  6. 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 
  7. Lars Persson and Thomas Tangerås: Transmission network investment across national borders: The liberalized Nordic electricity market, IFN WP 1242, 2018
  8. Mohammad Reza Hesamzadeh, Pär Holmberg and Mahir Sarfati: Simulation and evaluation of zonal electricity market designs, IFN WP 1211, 2018
  9. Thomas Tangerås and Frank A. Wolak: The competitive effects of linking electricity markets across space and time, IFN WP 1184, 2017 
  10. Mario Blazquez de Paz: Production or transmission investments? A comparative study, IFN WP 1158, 2017
  11. Erik Lundin: Effects of privatization on prices and labor efficiency: The Swedish electricity distribution sector, IFN WP 1139, 2016 
  12. Erik Lundin: Market power and joint ownership: Evidence from nuclear plants in Sweden, IFN WP 1113, 2016
  13. Mario Blaquez de Paz: Auction performance on wholesale electricity markets in the presence of transmission constraints and transmission costs, IFN WP 1098, 2015
  14. Ewa Lazarczyk: Private and public information on the Nordic intra-day electricity market, IFN WP 1064, 2015
  15. 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 

Publications in scientific journals

  1. Erik Lundin and Thomas Tangerås: Cournot competition in wholesale electricity markets: The Nordic power exchange, Nord Pool, International Journal of Industrial Organziation, forthcoming
  2. Sara Fogelberg and Ewa Lazarczyk: Strategic withholding through production failures, Energy Journal, Vol. 40, Issue 5, September 2019, 247-266
  3. Shon Ferguson and Mark Sanctuary: Why is carbon leakage for energy intensive industry so hard to find? Environmental Economics and Policy Studies, Vol. 21, Issue 1, January 2019, 1-24
  4. Thomas Tangerås and Johannes Mauritzen: Real-time versus day-ahead market power in a hydro-based electricity market, Journal of Industrial EconomicsVol. 66, Issue 4, December 2018, 904-941
  5. Pär Holmberg and Andy Philpott: On supply-function equilibria in radial networksEuropean Journal of Operational Research, Vol. 271, Issue 3, December 2018, 985-1000
  6. 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
  7. Mario Blazquez de Paz: Electricity auctions in the presence of transmission constraints and transmission costs, Energy Economics, Vol. 74, August 2018, 605-627
  8. 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 
  9. Thomas Tangerås: Equilibrium supply security in a multinational electricity market with renewable production, Energy Economics, Vol. 72, May 2018, 416-435
  10. Edward Anderson and Pär Holmberg: Price instability in multi-unit auctions, Journal of Economic Theory, Vol. 175, May 2018, 318-341
  11. Keith Ruddell, Tony Downward and Andy Philpott: Market power and forward prices, Economics Letters, Vol. 166, May 2018, 6-9
  12. 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  
  13. Pär Holmberg: Pro-competitive rationing in multi-unit auctions, Economic Journal, Vol 127, October 2017, F372-395
  14. 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 
  15. Ewa Lazarczyk: Market-specific news and its impact on forward premia on electricity markets, Energy Economics, Vol 54, February 2016, 326-336
  16. Thomas Tangerås: Renewable electricity policy and market integration, Energy Journal, Vol. 36, No 4, 2015, 331-353
  17. 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
  18. Johannes Mauritzen: How electricity price spikes can help overcome the energy efficiency gapEconomics Letters, Vol. 134, 2015, 114-117
  19. 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
  20. Sven-Olof Fridolfsson and Thomas Tangerås: Nuclear capacity auctionsEnergy Journal, Vol 36, No 3, 2015, 247-261
  21. Pär Holmberg and Ewa Lazarczyk: Comparison of congestion management techniques: Nodal, zonal and discriminatory pricing, Energy Journal, Vol. 36, No 2, 2015, 145-166
  22. 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
  23. 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
  24. Sven-Olof Fridolfsson and Thomas Tangerås: A reexamination of renewable electricity policy in Sweden, Energy Policy, Vol. 58, July 2013, 57-63
  25. 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
  26. 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
  27. Thomas Tangerås: Optimal transmission regulation of an integrated energy marketEnergy Economics, Vol. 34, Issue 5, September 2012, 1644-1655
  28. Pär Holmberg: Strategic forward contracting in the wholesale electricity marketEnergy Journal, Vol. 32, No 1, 2011, 169-202
  29. Thomas Tangerås: Designing electricity auctions: Introduction and overview, Utilities Policy, Vol. 18, Issue 4, December 2010, 163-164
  30. 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
  31. 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
  32. Pär Holmberg: Supply function equilibria of pay-as-bid auctionsJournal of Regulatory Economics, Vol. 36, No. 2, October 2009, 154-177
  33. 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
  34. Thomas Tangerås: Yardstick competition and quality, Journal of Economics & Management Strategy, Vol. 18, Issue 2, Summer 2009, 589-613
  35. Pär Holmberg: Unique supply function equilibrium with capacity constraints, Energy Economics, Vol. 30, Issue 1, January 2008, 148-172
  36. Pär Holmberg: Supply function equilibrium with asymmetric capacities and constant marginal costs Energy Journal, Vol. 28, Issue 2, 2007, 55-82

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