Storing power: market structure matters.
We assess how firms' incentives to operate and invest in energy storage depend on the market structure. For this purpose, we characterize equilibrium market outcomes allowing for market power in storage and/or production, as well as for vertical integration between storage and production. Market pow...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 54; no. 1; pp. 3 - 54 |
|---|---|
| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Mar2023
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=162398024&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 162398024 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Mar2023 vid: 54 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 162398024 10.1111/1756-2171.12429 ppf: 3 ppct: 51 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 938KB tig: atl: Storing power: market structure matters. aug: au: Andrés‐Cerezo, David Fabra, Natalia affil: Universidad Carlos III de Madrid Universidad Carlos III de Madrid and CEPR su: Market design & structure (Economics) Market power Vertical integration Market equilibrium Energy storage sug: subj: Market design & structure (Economics) Market power Vertical integration Market equilibrium Energy storage ab: We assess how firms' incentives to operate and invest in energy storage depend on the market structure. For this purpose, we characterize equilibrium market outcomes allowing for market power in storage and/or production, as well as for vertical integration between storage and production. Market power reduces overall efficiency through two channels: It induces an inefficient use of the storage facilities, and it distorts investment incentives. The worst outcome for consumers and total welfare occurs under vertical integration. The results are key to understanding how to regulate energy storage, an issue which is critical for the deployment of renewable energies. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|