Vertical integration and market power: A model-based analysis of restructuring in the Korean electricity market

被引：12

作者：

Bunn, Derek W. ^{[1
]}

Martoccia, Maria ^{[1
]}

Ochoa, Patricia ^{[1
]}

Kim, Haein ^{[2
]}

Ahn, Nam-Sung ^{[2
]}

Yoon, Yong-Beom ^{[2
]}

机构：

[1] London Business Sch, London NW1 4SA, England

[2] Korean Elect Power Corp, Seoul, South Korea

来源：

ENERGY POLICY | 2010年 / 38卷 / 07期

关键词：

Electricity; Vertical integration; Agent-based simulation; FORECLOSURE; INDUSTRY;

D O I：

10.1016/j.enpol.2010.02.049

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

An agent-based simulation model is developed using computational learning to investigate the impact of vertical integration between electricity generators and retailers on market power in a competitive wholesale market setting. It is observed that if partial vertical integration creates some market foreclosure, whether this leads to an increase or decrease in market power is situation specific. A detailed application to the Korean market structure reveals this to be the case. We find that in various cases, whilst vertical integration generally reduces spot prices, it can increase or decrease the market power of other market generators, depending upon the market share and the technology segment of the market, which is integrated, as well as the market concentrations before and after the integration. (C) 2010 Elsevier Ltd. All rights reserved.

引用

页码：3710 / 3716

页数：7

共 50 条

[21] Electricity market transitions in Australia: Evidence using model-based clustering
Csereklyei, Zsuzsanna
Anantharama, Nandini
Kallies, Anne
ENERGY ECONOMICS, 2021, 103 (103)
[22] Analysis of competition and market power in the wholesale electricity market in India
Shukla, Umesh Kumar
Thampy, Ashok
ENERGY POLICY, 2011, 39 (05) : 2699 - 2710
[23] Market integration of wind power in electricity system balancing
Sorknaes, Peter
Andersen, Anders N.
Tang, Jens
Strom, Sune
ENERGY STRATEGY REVIEWS, 2013, 1 (03) : 174 - 180
[24] Integration of wind power in the liberalized Dutch electricity market
Ummels, B. C.
Gibescu, M.
Kling, W. L.
Paap, G. C.
WIND ENERGY, 2006, 9 (06) : 579 - 590
[25] Market Power Analysis in the EEX Electricity Market: An Agent-Based Simulation Approach
Wang, Jianhui
Botterud, Audun
Conzelmann, Guenter
Koritarov, Vladimir S.
2008 IEEE POWER & ENERGY SOCIETY GENERAL MEETING, VOLS 1-11, 2008, : 1075 - 1082
[26] System dynamic index for market power mitigation in the restructuring electricity industry
Yang, J
Jordan, G
2000 IEEE POWER ENGINEERING SOCIETY SUMMER MEETING, CONFERENCE PROCEEDINGS, VOLS 1-4, 2000, : 2217 - 2222
[27] Residential consumer switching and electricity restructuring policy: The Pennsylvania power market
Chen C.-P.
Atlantic Economic Journal, 2005, 33 (3) : 311 - 323
[28] Model-based Analysis of Possible Capacity Mechanisms until 2030 in the European Internal Electricity Market
Tasios, Nikos
Capros, Pantelis
Zampara, Marilena
2014 11TH INTERNATIONAL CONFERENCE ON THE EUROPEAN ENERGY MARKET (EEM), 2014,
[29] An analysis of game of electricity trade in electricity power market
Wang Honglei
Wei Yiming
PROCEEDINGS OF THE 26TH CHINESE CONTROL CONFERENCE, VOL 6, 2007, : 133 - +
[30] California's dysfunctional electricity market: policy lessons on market restructuring
Sioshansi, FP
ENERGY POLICY, 2001, 29 (09) : 735 - 742

← 1 2 3 4 5 →