The paper provides an overview of the generation of electricity in 10 countries in South East Europe during 1995-2004. Using the latest available statistics the potential of the nascent integration of the electricity markets in South East Europe is explored. We conduct a cross-country analysis of electricity production based on different types of fuel used. The region has a low level of gasific...

In several European countries with Germany leading a remarkable increase in capacities and corresponding electricity generation from wind and photovoltaic power plants took place in recent years. The core objective of this paper is to investigate the possible effects of such a further uptake of renewables on the European electricity markets. The major effects of these developments on the electr...

The deregulation of electricity markets has led to higher uncertainty in electricity prices. Electricity, as a commodity, differs from other commodities and financial assets as it is not storable. Among the consequences of this non-storability restriction, the most conspicuous one is the presence of large spikes in electricity prices. Another outcome of the non-storability of electricity is tha...

All of the countries of Western Europe have taken steps to liberalise their electricity industries. Large consumers in every country can choose their electricity supplier, and in some countries, this choice has been extended to every consumer. The European Union has decided that from 2007 at the latest, all customers will be able to choose their electricity supplier. A number of large European ...

The restructuring process of electricity markets in Europe started in the late 1990s and is still going on. This process was triggered by the Directive 96/92/EC of the European Parliament and of the Council concerning common rules for the internal market in electricity (EC, 1997). This article will analyse the recent developments in the liberalised Western and Central European electricity marke...

One of the major challenges in restructured power systems is to maintain a level of generation capacity that ensures an acceptable level of certainty against power interruptions. A power market with a wellfunctioning spot market and long-term markets for allocation of risks between consumers and producers should in theory generate optimal investments in new power generation capacity, but this m...

* Faculty of Economics, University of Belgrade, Serbia, E-mail: [email protected] ** Faculty of Economics, University of Belgrade, Serbia, E-mail: [email protected] JEL CLASSIFICATION: D44, H57 ABSTRACT: This paper reviews some multi-unit auction mechanisms that are used in the procurement of electricity. In ordinary multi-unit auctions bidders compete to buy several units of the same obj...

The worldwide electric power industry has seen many changes over the last 20 years. During this period many regulated or state-owned monopoly markets have been deregulated. In an electricity market, electricity price is decided based on demand and supply bids from the market participants; therefore, the importance of ShortTerm Load Forecasting (STLF) has been rising in these markets [1]. Load f...

Deregulated wholesale markets for bulk electricity supplies are likely to deviate from the perfectly competitive ideal in many areas where transmission losses, costs and capacity constraints isolate customers from the effective reach of many generators and limit the number of competitors. In those regions where a few suppliers or marketing agents dominate the market, prices may rise wellabove t...