The pro-competitive eects of forward contracts in electricity market can- not be regarded alone without examining the market structure. In this paper, we show that under retail competition, spot market demand uncertainty and risk aversion, partially or fully integrated electricity generators and retailers have less incentives to be involved in trading electricity under forward contracts…
Étiqueté : Vertical integration
The authors analyse the forces behind the evolution of the bio-ethanol industry by examining
the dynamics along the entire value chain, with a particular focus on the core stage
of ethanol manufacturing.