Working paper
Option values of low carbon technologies policies
How to combine irreversibility effect and learning-by-doing in decisions?
March 4, 2010
- D. Finon, G. Meunier - 
Abstract : in this paper we analyze the development and deployment of largescale low carbon technologies. We first review several issues at stake for the development of a technology still in infancy and characterized by major learning effects. Then 
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Policy choices for the deployment of large scale low carbon technologies
The case of Carbon Capture and Sequestration (CCS)
March 3, 2010
- D. Finon -
Abstract : This paper analyses a set of policy instruments needed to support investment during the learning phase in the deployment stage of CCS technologies following the demonstration stage. We focus on the specific barriers to learning investment
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Comparison of long term contracts and vertical integration
November 28, 2009
- R. Meade, S. O'Connor -
Abstract : A common view is that electricity sectors should be unbundled and opened to competition, and that in such decentralised markets long-term contracts are necessary to constrain generator market power, elicit competitive entry in retailing,
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Signaux-prix et équilibre de long-terme
Reconsidérer l'organisation des marchés électriques
November 24, 2009
- D. Finon, C. Defeuilley, F. Marty -
Résumé : Les industries électriques ont été libéralisées en référence au modèle d’équilibre de marché. Dans ce modèle, les agents se font concurrence aux différents étages de la filière sur des marchés de gros et de détail
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Catching-up the maximum market value of electricity storage
November 20, 2009
- X.He, G. Zachmann -
Abstract : The creation of competitive wholesale electricity markets allows to evaluate the “arbitrage value” of an electricity storage unit, which stems from buying and storing electricity when prices are low, and selling it when prices are
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Large-scale wind power in european electricity markets
Time for revisiting support schemes and market designs ?
June 26, 2009
- C. Hiroux, M. Saguan -
Summary : This paper questions whether current renewable support schemes and electricity market designs are well-suited to host a significant amount of wind energy. Our analysis aims at finding the right equilibrium between market signals received
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Retailers’ risk management and vertical arrangements
June 25, 2009
- R. Boroumand, G. Zachmann -
Summary. The failure of the asset light retailer’s economic model is indicative of the incapacity of this organizational structure to manage efficiently the combination of sourcing and market risks in the current market environnment. Because
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HHI, an irrelevant indicator without a relevant market
April 24, 2009
- D. Perrot-Voisard, G. Zachmann -
Summary. For evaluating the concentration effects of horizontal unbundling or mergers in the electricity industry a one-number-indicator is desirable. But, the three most widely applied measures (HHI, PSI and RSI) are per se unable to represent
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Photovoltaïque, l’inadéquation du tarif d’achat
February 24, 2009
- D. Finon -
Résumé. La politique actuelle de tarifs d’achat garantis appliqués au photovoltaïque manque de rationalité : non dégressivité des tarifs, durée trop longue des engagements, pas de plafond sur les capacités développées, cumul
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Accompagner l’extinction des tarifs réglementés de l’électricité
February 23, 2009
- C. Defeuilley, D. Finon -
Résumé : La libéralisation des marchés électriques en Europe sonne le glas des tarifs réglementés, y compris pour les consommateurs résidentiels. La régulation administrative des prix n’apparaît pas compatible avec l’objectif
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Capacity choice, Technology mix and market power
December 2, 2008
- G. Meunier -
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
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La dynamique de la concurrence avec coûts de changement
British Gas (1997-2007)
November 15, 2008
- C. Defeuilley, M. Mollard -
Résumé : Les modèles de concurrence avec coûts de changement montrent qu’en dynamique les firmes sont incitées à adopter des stratégies en deux temps. Elles consentent des sacrifices pour acquérir des parts de marché en première
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Les fournisseurs d’électricité : la faillite d’un modèle organisationnel ?
October 17, 2008
- R. Boroumand -
Résumé : La faillite des fournisseurs purs d’électricité sur les marchés de détail reflète l’incapacité de ce modèle organisationnel à gérer les risques liés à la fourniture d’électricité dans un contexte de forte
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Generation adequacy and transmission interconnection
in regional electricity markets
October 7, 2008
- M. Cepeda, M. Saguan, V. Pignon -
Summary : Power system adequacy has currently public good features that cannot be entirely solved by electricity markets. Regulatory intervention is then necessary and old methods to assess adequacy have been used to help regulators to fix this
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Legal uncertainty and competition policy in deregulated industries
The case of long term contracts
June 28, 2008
- A. de Hauteclocque -
Summary : The case of long-term vertical contracts in the EU electricity markets is a topical example of the difficulties faced by Competition authorities with the liberalization of network industries. Their ambiguous effects on the competitive
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Contractual and financing arrangements for new nuclear build
May 28, 2008
- D. Finon, F. Roques -
Summary : The paper studies how the risks specific to a nuclear power investment in liberalised markets – regulatory, construction, operation and market risks – can be mitigated or transferred away from the plant investor through different
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Investment risk allocation in restructured electricity markets
April 28, 2008
- D. Finon, Y. Perez -
Summary : None of the far-reaching experiments in electricity industry liberalization proved able to ensure the timely and optimal capacity mix development. The theoretical market model features failures attributable to the specific volatility of
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Gestion du risque et intégration verticale dans l’électricité
April 25, 2008
- C. Defeuilley, G. Meunier -
Summary : the reforms endeavoured in the electric sector should have led to a complete reshaping of the industrial structures, regulation modes and exchanges coordinating devices. Instead, most of the electric systems remain organized around
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Les politiques de la concurrence sur les marchés électriques
April 20, 2008
- U. Dubois -
Résumé : Cet article propose une analyse critique des instruments et des pratiques des politiques de concurrence européennes en matière de pouvoir de marché sur les marchés de gros d’électricité. En raison des spécificités des
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La hausse inéluctable des prix de l’électricité en France
January 20, 2008
- D. Finon, J.M. Glachant -
Résumé : La réforme concurrentielle va inéluctablement engendrer une hausse de prix pour les consommateurs français lorsque le tarif règlementé sera supprimé. Cette hausse tient au mécanisme de formation des prix horaires sur le marché
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The social efficiency of long-term capacity reserve mechanisms
January 20, 2008
- D. Finon, G. Meunier, V. Pignon -
Summary : in Public Economics, the simple supply mechanism for a collective good is the centralised provision by government, and paid by all beneficiaries through a small and targeted tax. In the case of capacity adequacy in power supply, which
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La formation des prix sur un marché à dominante nucléaire
La recherche d'un équilibre entre efficience et équité
November 1, 2007
- Elliot Romano -
Résumé : Le prix de l’électricité sur le marché de gros européen a plus que doublé entre 2002 et 2006. En raison de l’intégration des marchés, cette hausse affecte le prix de gros en France, alors même que le parc de production
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Sub optimal investment in oligopolistic electricity markets
Market power and public firm investment
June 30, 2007
- Dominique Finon, Guy Meunier -
Summary : in a context of concentrated electricity industries and entry barriers, governments may worry that incumbent firms strategically under-invest in generation. Associated with the well known short-term strategy of production restriction,
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La concurrence de détail dans l’électricité
Sousbassement théorique, état des lieux et perspectives
June 15, 2007
- Christophe Defeuilley -
Résumé : L’introduction de la concurrence sur le segment de la vente de détail de l’électricité a suscité beaucoup d’attentes. Mais elle n’a pour le moment donné que des résultats mitigés. Cela est principalement dû
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Alternative market designs in EU electricity balancing
An institutional frame to compare alternative market designs in EU electricity balancing
December 15, 2006
- Jean-Michel Glachant, Marcelo Sagan -
Summary : The so-called “electricity wholesale market” is, in fact, a sequence of several markets. The chain is closed with a provision for “balancing”, in which energy from all wholesale markets is balanced under the authority of the
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Les conditions de l’investissement nucléaire
Les conditions de l'investissement nucléaire en environnement de marché
December 1, 2006
- Dominique Finon -
Résumé : Après la longue période d’aphasie des investissements nucléaires due aux obstacles politiques et règlementaires importants, les gouvernements des pays industrialisés regardent de nouveau l’énergie nucléaire comme une
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Electricité et sécurité de fourniture de long terme
La recherche d'instruments réglementaires respectueux du marché électrique.
November 15, 2006
- Dominique Finon, Virginie Pignon -
Résumé : Ce papier explicite les enjeux théoriques posés en environnement concurrentiel par la sécurité de fourniture électrique de long terme. Les prix de l’énergie électrique et les arrangements contractuels sur les marchés
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La gestion du risque d’une commodité non-stockable
Les limites d'une couverture financière
November 1, 2006
- Christophe Defeuilley, Guy Meunier -
Summary : the reforms endeavour in the electric sector should have led to a complete reshaping of the industrial structures, regulation modes and exchanges coordinating devices. Instead, most of the electric systems remain organized around
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