We analyse in a theoretical framework the link between real-time and day-ahead marketperformance in a hydro-based and imperfectly competitive wholesale electricity market.Theoretical predictions of the model are tested on data from the Nordic power exchange,Nord Pool Spot (NPS).We reject the hypothesis that prices at NPS were at their competitivelevels throughout the period under examination. The empirical approach uses equilibriumprices and quantities and does not rely on bid data nor on estimation of demand or marginalcost functions.
展开▼
机译：我们在理论框架中分析了在水基和竞争不完全的水电批发市场中实时和日前市场表现之间的联系。模型的理论预测是根据北欧电力交易所，Nord Pool Spot（NPS）的数据进行测试的我们拒绝接受这样的假设，即在整个审查期间内，NPS的价格处于竞争水平。经验方法使用均衡价格和数量，不依赖于投标数据，也不依赖于需求或边际成本函数的估计。
展开▼
