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Working Papers

Option values

CCS

LTC and vertical integration

Signaux-prix

Electricity storage

Large-scale wind power

Retailer s risk management

HHI, an irrelevant indicator

Photovoltaïque

Tarifs réglementés

Capacity choice

Dynamique concurrence

Commercialisateur pur

Generation adequacy

Long term contracts

Arrangements for nuclear inv.

Investment risk allocation

Intégration verticale

Politiques concurrence

Hausse des prix

Capacity reserve

Formation des prix

Suboptimal investment

Concurrence de détail

Balancing mechanisms

Nucleaire

Securite de fourniture

Gestion du risque

Capacity choice, Technology mix and market power

Summary : This paper investigates strategic capacity choices in an electricity markets with heterogenous firms. With a competitive wholesale market, the paper focusses on long term strategic investment. Two technologies are available to produce electricity, both are efficient and used at a first best optimum. When all firms cannot invest in both technologies there can be over investment in one of these. Furthermore, even a firm that can invest in both may be deter from investing in one of them and specialized. If the number of firms that can invest in a particular technology is limited, the development of competition only through the other technology can decrease welfare.