Electricity and Gas Market Empirical Modeling

Crédit : 5 ECTS
Langue du cours : anglais

Volume horaire

  • CM : 30 h

Compétences à acquérir

Learning how to model the main characteristics of electricity and gas markets. Students will learn to apply the most recent theories to analyze the performance of these markets, as well as to understand empirical and simulation analysis that are frequently used by both regulators and firms to assess the effects of changes in market design or market structure.

Description du contenu de l'enseignement

Plannning course :
  • Course Introduction: why empirical modeling of electricity and gas markets is important? Examples: the enquiries of the European Competition Commission
  • Day-Ahead Electricity Markets: measuring imperfect competition using indicators
  • Day-Ahead Electricity Markets: measuring imperfect competition using empirical industrial organization models
  • Day-Ahead Electricity Markets: measuring imperfect competition in the Californian Market (Case study)
  • Day-Ahead Electricity Markets: different approaches to forecast prices
  • Day-Ahead Electricity Markets: the Italian market (Case study)
  • Gas markets: empirical modeling of long-term contracts and efficiency
  • Gas markets: long-term contract and spot markets
  • Gas markets: security of supply; the case of strategic storage

Mode de contrôle des connaissances

Written exam (3 hours).

Bibliographie, lectures recommandées

  • Bushnell J., Mansur E. , Saravia C. “Vertical Arrangements, Market Structure, and Competition: An Analysis of Restructured U.S. Electricity Markets”, American Economic Review, Volume 98, Issue 1, March 2008, pages 237-266.
  • Chaton C. Creti A and B. Villeneuve (2009) “Storage and Security of Supply in the Medium Run", Resource and Energy Economics, Vol 31, pp 24-38.
  • Creti A.(2004) "Long-term Contracts and Take-or-pay Clauses in Natural Gas Markets", (with B. Villeveuve), Energy Studies Review, Vol 13, pp 75-94.
  • Cremer H., Laffont J-J. (2002), Competition in gas markets, European Economic Review 46, 928–935.
  • Mansur E. “Measuring Welfare in Restructured Electricity Markets”Review of Economics and Statistics, Volume 90, Issue 2, May 2008, pages 369-386.
  • Newbery, D. et al. “A Review of the Monitoring of Market Power” Working Papers 0502, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.

Complementary references will be given during the lectures.

Enseignant responsable


Année universitaire 2016 - 2017 - Fiche modifiée le : 13-02-2017 (15H48) - Sous réserve de modification.