Working Paper Series
Real-time versus Day-ahead Market Power in a Hydro-based Electricity Market
() and Thomas Tangerås
Abstract: We analyse in a theoretical framework the link between
real-time and day-ahead market performance in a hydro-based and imperfectly
competitive wholesale electricity market. Theoretical predictions of the
model are tested on data from the Nordic power exchange, Nord Pool Spot
(NPS).We reject the hypothesis that prices at NPS were at their competitive
levels throughout the period under examination. The empirical approach uses
equilibrium prices and quantities and does not rely on bid data nor on
estimation of demand or marginal cost functions.
Keywords: Hydro power; Market power; Nord Pool Spot; (follow links to similar papers)
JEL-Codes: D43; D92; L13; L94; Q41; (follow links to similar papers)
25 pages, February 19, 2014
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