Strategic capacity withholding through failures in the German-Austrian electricity market


Bergler, Julian ; Heim, Sven ; Hüschelrath, Kai


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URL: https://ub-madoc.bib.uni-mannheim.de/40640
URN: urn:nbn:de:bsz:180-madoc-406401
Document Type: Working paper
Year of publication: 2016
The title of a journal, publication series: ZEW Discussion Papers
Volume: 16-009
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: L94 , L12 , L41 , K21,
Keywords (English): Antitrust policy , market power , auctions , electricity , withholding
Abstract: In electricity day-ahead markets organized as uniform price auction, a small reduction in supply in times of high demand can cause substantial increases in price. We use a unique data set of failures of generation capacity in the German-Austrian electricity market to investigate the relationship between electricity spot prices and generation failures. Differentiating between strategic and non-strategic failures, we find a positive impact of prices on non-usable marginal generation capacity for strategic failures only. Our empirical analysis therefore provides evidence for the existence of strategic capacity withholding through failures suggesting further monitoring efforts by public authorities to effectively reduce the likelihood of such abuses of a dominant position.

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Bergler, Julian ; Heim, Sven ; Hüschelrath, Kai (2016) Strategic capacity withholding through failures in the German-Austrian electricity market. Open Access ZEW Discussion Papers Mannheim 16-009 [Working paper]
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