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Competition, Contracts and Electricity Markets

Competition, Contracts and Electricity Markets

A New Perspective

Loyola de Palacio Series on European Energy Policy

Edited by Jean-Michel Glachant, Dominique Finon and Adrien de Hauteclocque

This book fills a gap in the existing literature by dealing with several issues linked to long-term contracts and the efficiency of electricity markets. These include the impact of long-term contracts and vertical integration on effective competition, generation investment in risky markets, and the challenges for competition policy principles.


Dominique Finon, Jean-Michael Glachant and Adrien de Hauteclocque

Subjects: economics and finance, competition policy, energy economics, industrial organisation, law - academic, energy law


Dominique Finon, Jean-Michel Glachant and Adrien de Hauteclocque This book is the second of the ‘Loyola de Palacio’ series in the Edward Elgar Publishers collection. It gathers different papers accessible to a range of academic and professional audiences who among others include regulatory staffs, corporate economists and business lawyers. It fills a gap in the existing literature by coping with an original issue in the complex competition developed in electricity markets, the challenge of long-term contracts, and vertical arrangements to competition policy principles while such arrangements could be needed for developing investment and an optimal mix of technologies. This book is the result of a research project entitled ‘Efficiency, Competition and Long-Term Contracts in Electricity Markets’ developed between 2007 and 2009 by the Laboratoire d’Analyse économique des Réseaux et des Systems Energétiques (LARSEN), a four-year joint research programme of the French National Centre of Scientific Research (CNRS), Electricité de France research and development (EDF R&D) division and Paris-Sud University dealing with the topic of electricity markets reforms and public policies. The contributions have been presented to the workshop jointly organized on 15–16 January 2009 by the Loyola de Palacio European Energy Policy Program of the European University Institute of Florence and the LARSEN. The electricity sector is a complex industry given the physical and economical nature of electricity. It has been liberalized in reference to the theoretical model of decentralized competition. However, this has been followed by many unexpected effects which have required several adjustments. Conventional...