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Market Power in the Nordic Electricity Wholesale Market: A Survey of the Empirical Evidence


Sven-Olof Fridolfsson


Research Institute of Industrial Economics (IFN)

Thomas Tangerås


Research Institute of Industrial Economics (IFN)

November 28, 2008

Energy Policy, Vol. 37,No. 9, pp. 3681-3692, September 2009
IFN Working No. 773

Abstract:     
We review the recent empirical research concerning market power on the Nordic wholesale market for electricity, Nord Pool. There is no evidence of blatant and systematic exploitation of system level market power on Nord Pool. However, generation companies seem from time to time able to take advantage of capacity constraints in transmission to wield regional market power. Market power can manifest itself in a number of ways which have so far escaped empirical scrutiny. We discuss investment incentives, vertical integration and buyer power, as well as withholding of base-load (nuclear) capacity.

Number of Pages in PDF File: 32

Keywords: electricity markets, deregulation, market power, hydro power, transmission constraints

JEL Classification: L13, L94, Q41

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Date posted: September 17, 2010 ; Last revised: January 30, 2011

Suggested Citation

Fridolfsson, Sven-Olof and Tangerås, Thomas, Market Power in the Nordic Electricity Wholesale Market: A Survey of the Empirical Evidence (November 28, 2008). Energy Policy, Vol. 37,No. 9, pp. 3681-3692, September 2009; IFN Working No. 773. Available at SSRN: http://ssrn.com/abstract=1308493 or http://dx.doi.org/10.2139/ssrn.1308493

Contact Information

Sven-Olof Fridolfsson
Research Institute of Industrial Economics (IFN) ( email )
Box 55665
Grevgatan 34, 2nd floor
Stockholm, SE-102 15
Sweden
Thomas Tangerås (Contact Author)
Research Institute of Industrial Economics (IFN) ( email )
Box 55665
Grevgatan 34, 2nd floor
Stockholm, SE-102 15
Sweden
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