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Irish and British historical electricity prices and implications for the future. ESRI WP452. April 2013

Deane, Paul and FitzGerald, John and Valeri, Laura Malaguzzi and Tuohy, Aidan and Walsh, Darragh (2013) Irish and British historical electricity prices and implications for the future. ESRI WP452. April 2013. [Working Paper]

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    Abstract

    This paper compares retail and wholesale electricity prices in SEM, the market of the island of Ireland, and BETTA in Great Britain. Wholesale costs are much lower in BETTA. We show that this is mostly because the wholesale price in BETTA is set too low to cover generation costs, although it is compensated by large retail margins. The substantial need for new investment in generation in Great Britain suggests that returns to generators will have to increase. Developing a market mechanism to compensate generators fairly while simultaneously reducing retail revenue will help in achieving this goal.

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    Item Type: Working Paper
    Uncontrolled Keywords: SEM, BETTA, electricity prices, simulation model
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy (Including international arena)
    Countries > Ireland
    Countries > U.K.
    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 13:04
    Number of Pages: 20
    Last Modified: 10 Jul 2017 13:04
    URI: http://aei.pitt.edu/id/eprint/88041

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