A framework for analyzing competitive electric power systems has been developed. A model and simulation based upon the framework, as well as applications and extensions, are presented. The applications include an analysis of the potential gains from trade of a large-scale synchronous interconnection between the Electric Reliability Council of Texas (ERCOT) and the Southwest Power Pool and a stu...

This paper investigates the implications of U.S. withdrawal on environmental effectiveness, economic efficiency, and the distribution of compliance costs taking into account market power of the Former Soviet Union (FSU) on emission permit markets. While exercise of market power on behalf of FSU under U.S. compliance has no environmental impact as compared to competitive permit trade, it prevent...

The paper discusses economic theories of harm for anti-competitive margin squeeze by unregulated and regulated vertically integrated firms. We review both predation and foreclosure theories, as well as the mere exploitation of upstream market power. We show that foreclosure provides an appropriate framework in the case of an unregulated firm, whereas a firm under tight wholesale regulation shou...

This paper revisits Neil Wrigley’s influential research that explored the corporate restructuring of the US food retail sector, which was characterised by a focus on the spatial implications of merger activity, market concentration and competition regulation. It assesses the importance of this scholarship in a contemporary context, tracking these competitive and regulatory trends from a decade ...

We consider a pollution permits market in which there are a large polluting firm plays and a fringe of competitive firms. To smooth compliance towards the longrun emissions goal, firms are initially allocated a stock (i.e., bank) of permits to be gradually consumed. We first show how the large firm can credibly manipulate the spot market in subgame-perfect equilibrium. Motivated by features obs...

Smart Grid markets are dynamic and complex, and brokers are widely introduced to better manage the markets. However, brokers face great challenges, including the varying energy demands of consumers, the changing prices in the markets, and the competitions between each other. This paper proposes an intelligent broker model based on hybrid learning (including unsupervised, supervised and reinforc...

Electricity restructuring o®ers the potential for more e±cient production and investment, but may create the opportunity for producers to exercise market power. Oligopolists may cause deadweight loss in wholesale electricity markets, even when demand is perfectly inelastic, by inducing cross̄rm production ine±ciencies. This study estimates the environmental implications of production ine±ciencie...

This article aims to analyze agents’ behavior in a competitive hydrothermal energy market. The idea is investigate how much the day-to-day of market can be different from predictions presented by cost-based models because risk perception each agent (hydroelectric producer, this case) as participant main contribution determining impact on revenue short-term due variation amount generated and pri...