The effect of regulatory scrutiny asymmetric cost pass-through in power wholesale and its end


Mokinski, Frieder ; Wölfing, Nikolas


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URL: https://ub-madoc.bib.uni-mannheim.de/34599
URN: urn:nbn:de:bsz:180-madoc-345994
Document Type: Working paper
Year of publication: 2013
The title of a journal, publication series: ZEW Discussion Papers
Volume: 13-055
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: L4 , L94 , Q41 , Q52,
Keywords (English): Asymmetric price adjustment , regulatory monitoring , wholesale electricity markets , emission trading
Abstract: We find an asymmetric pass-through of European Emission Allowance (EUA) prices to wholesale electricity prices in Germany and show that this asymmetry has disappeared in response to a report on investigations by the competition authority. The asymmetric pricing pattern, however, was not detected at the time of the report, nor had it been part of the investigations. Our results therefore provide evidence of the deterring effect of regulatory monitoring on firms which exhibit non-competitive pricing behavior. We do not find any asymmetric pass-through of EUA prices in recent years. Several robustness checks support our results.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Mokinski, Frieder ; Wölfing, Nikolas (2013) The effect of regulatory scrutiny asymmetric cost pass-through in power wholesale and its end. Open Access ZEW Discussion Papers Mannheim 13-055 [Working paper]
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