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Competition and the Single Electricity Market: Which Lessons for Ireland?. ESRI WP497. March 2015

Di Cosmo, Valeria and Lynch, Muireann A. (2015) Competition and the Single Electricity Market: Which Lessons for Ireland?. ESRI WP497. March 2015. [Working Paper]

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    This paper examines the redesign of the Irish Single Electricity Market in order to comply with the European Target Model for electricity. In particular, this work focuses on the challenges raised by the high concentration in the generation sector which exists in the Irish electricity market. We examine the theoretical and empirical conditions under which forward markets promote competition in the spot and retail markets; in addition, we investigate the impact of concentration in the market on the new capacity payment mechanism. In order to ensure a competitive outcome for consumers, the regulatory authorities should continue to regulate the directed forward contracts made by the dominant firm; moreover, our analysis suggests that the regulator should extend regulation to the price and quantity which the dominant firm bids for holding new reliability options.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy (Including international arena)
    Countries > Ireland
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Economic and Social Research Institute (ESRI), Dublin > ESRI Working Papers
    Depositing User: Alyssa McDonald
    Official EU Document: No
    Language: English
    Date Deposited: 10 Jul 2017 12:58
    Number of Pages: 31
    Last Modified: 10 Jul 2017 12:58

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