Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/129418
Authors: 
Di Cosmo, Valeria
Lynch, Muireann À.
Year of Publication: 
2015
Series/Report no.: 
ESRI Working Paper 497
Abstract: 
This paper examines the redesign of the Irish Single Electricity Market in order to comply with the European Target Model for electricity. In particular, this work focuses on the challenges raised by the high concentration in the generation sector which exists in the Irish electricity market. We examine the theoretical and empirical conditions under which forward markets promote competition in the spot and retail markets; in addition, we investigate the impact of concentration in the market on the new capacity payment mechanism. In order to ensure a competitive outcome for consumers, the regulatory authorities should continue to regulate the directed forward contracts made by the dominant firm; moreover, our analysis suggests that the regulator should extend regulation to the price and quantity which the dominant firm bids for holding new reliability options.
Subjects: 
Competition
Forward electricity markets
Capacity payments
Single electricity market
Document Type: 
Working Paper

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