Market power and allegations of market power abuse are perhaps the most contentious contemporary issues concerning electricity markets. A number of industry observers and participants have made allegations regarding the abuse of market power. While some of these allegations may be well-founded, many others may be nothing more than an attempt by some to retroactively correct for their own bad bu...

Market power refers to conditions where the providers of a service can consistently charge prices above those that would be established by a competitive market. There are many well known definitions of market power, including indices intended to quantify the degree of market concentration of energy supplies. This paper explores a method by which one of the standard indices in market power analy...

The aim in this study was to examine protein synthesis in the liver tissue under the effect of exogenous electric fields applied in different intensitities and directions. Sixty male white guinea pigs, weighing 350-400 g were used for the study. The E field of 1.9 kV/m obtained from a DC (Direct Current) power supply with 300 V was applied in vertical direction to 10 guinea pigs, and in horizon...

In this paper we develop a framework to study thin markets, in which all traders, buyers, and sellers are large, in the sense that they all have market power (also known as bilateral oligopoly). Unlike many IO models, our framework does not assume a priori that some traders have or do not have market power because “they are large or small.” Here, market power arises endogenously for each trader...

This paper proposes a method for determining the price bidding strategies of market participants consisting of Generation Companies (GENCOs) and Distribution Companies (DISCOs) in a day-ahead electricity market, while taking into consideration the load forecast uncertainty and demand response programs. The proposed algorithm tries to find a Pareto optimal point for a risk neutral participan...

This paper examines the extent to which a decline in market power could have contributed to the general decline in inflation rates experienced in developed countries during the 1990s. *Staff economist of the Division of International Finance of the Federal Reserve Board. Email: [email protected]. I wish to thank Jon Faust, Steve Kamin, and Jeremy Rudd for valuable comments. This paper repr...

We analyze the incidence and welfare effects of unit sales tax increases in experimental monopoly and Bertrandmarkets.We find, in line with economic theory, that firms with no market power are able to shift a high share of the tax burden to consumers, independent of whether buyers are automated or human players. In monopoly markets, a monopolist bears a large share of the burden of a tax increa...

This paper proposes a novel approach for the provision of non-frequency ancillary service (AS) by consumers connected to low-voltage distribution networks. The proposed considers an asymmetric pool-based local market AS negotiation, allowing set flexibility quantity and desired price trade. A case study with 98 illustrates market-based approach. Also, three different strategies consumers' parti...

Traditionally, conventional generation unit was used to provide ancillary services e.g. reactive power support, and spinning reserve. Nonetheless, with the emergence of highly penetrated distributed energy resources (DERs) systems and considering how beneficial they can be; it appears reasonable to use them as reactive power providers. Therefore, this paper introduces a new procedure for DERs t...