Strategic Action in the Liberalised German Electricity Market

Strategic deployment of balancing energy in the German electricity market

Svetlozar T. Rachev Chair-Professor, Chair of Statistics, Econometrics and Mathematical Finance, School of Economics and Business Engineering, University of Karlsruhe and KIT, and Department of Statistics and Applied Probability, University of California, Santa Barbara, and Chief-Scientist, FinAnalytica INC Kollegium am Schloss, Bau II, 20.12, R210, Postfach 6980, D-76128, Karlsruhe, Germany E-...

Market Power in the German Wholesale Electricity Market

This paper quantifies the degree of market power in the German wholesale electricity market. A fundamental model is used to derive competitive marginal cost estimators which are compared with observed electricity prices. Marginal costs are calculated focusing on market fundamentals such as plant capacities, fuel prices, and load structures. In addition, international power exchange and dynamic ...

Strategic pricing, market entry and competition: Evidence from German electricity submarkets

Risk premiums in the German day - ahead electricity market

This paper conducts an empirical analysis of risk premiums in the German day-ahead Electricity Wholesale Market. We compare hourly price data of the European Energy Exchange (EEX) auction and of the continuous over-the-counter (OTC) market taking place prior to EEX. As OTC price data are not publicly available, data provided by the Energy Exchange Austria (EXAA) have been used as a snapshot of ...

Electronic OTC Trading in the German Wholesale Electricity Market

Recent changes in the German energy policy initiated a deregulation process from a monopolistic to a competitive market, fundamentally changing the market structure, transaction relationships and trading processes. While the mutual exchange of electric energy has been a business activity between vertically integrated utilities for a long time, wholesale electricity trading in an open market onl...