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| Author: | Hansen, P.V. |
| Title: | Inflow uncertainty in hydropower markets |
| Journal: | Scandinavian Journal of Economics
2009 : VOL. 111:1, p. 189-207 |
| Index terms: | electricity water resources markets uncertainty demand functions monopoly duopoly models Nordic countries |
| Language: | eng |
| Abstract: | This paper analyzes the effects of uncertainty on market performance in hydropower systems under alternative assumptions about market structure. Uncertainty creates distinct possibilities for exercising market power that is not possible to be captured in deterministic models. The qualitative and quantitative features of these possibilities are dependent on the characteristics of residual demand facing individual firms, which in turn depends on consumer preferences and technologies of generation and transmission. |
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