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dc.contributor.authorTWOMEY, Paul
dc.contributor.authorGREEN, Richard
dc.contributor.authorNEUHOFF, Karsten
dc.contributor.authorNEWBERY, David
dc.date.accessioned2016-07-07T08:35:15Z
dc.date.available2016-07-07T08:35:15Z
dc.date.issued2006
dc.identifier.urihttp://hdl.handle.net/1814/42363
dc.description.abstractThe paper surveys the literature and publicly available information on market power monitoring in electricity wholesale markets. After briefly reviewing definitions, strategies and methods of mitigating market power we examine the various methods of detecting market power that have been employed by academics and market monitors/regulators. These techniques include structural and behavioural indices and analysis as well as various simulation approaches. The applications of these tools range from spot market mitigation and congestion management through to long-term market design assessment and merger decisions. Various market-power monitoring units already track market behaviour and produce indices. Our survey shows that these units collect a large amount of data from various market participants and we identify the crucial role of the transmission system operators with their access to dispatch and system information. Easily accessible and comprehensive data supports effective market power monitoring and facilitates market design evaluation. The discretion required for effective market monitoring is facilitated by institutional independence.
dc.language.isoen
dc.relation.ispartofseriesCMI Working Paper
dc.relation.ispartofseriesCWPE
dc.relation.ispartofseries2006/71
dc.titleA review of the monitoring of market power
dc.typeWorking Paper
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