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Cover von: Market Power in Interactive Environmental and Energy Markets: The Case of Green Certificates
Eirik S. Amundsen, Gjermund Nese

Market Power in Interactive Environmental and Energy Markets: The Case of Green Certificates

Rubrik: Articles
Jahrgang 173 (2017) / Heft 2, S. 301-321 (21)
Publiziert 09.07.2018
DOI 10.1628/093245616X14690820714372
Veröffentlicht auf Englisch.
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Aufgrund einer Systemumstellung kann es vorübergehend u.a. zu Zugriffsproblemen kommen. Wir arbeiten mit Hochdruck an einer Lösung. Wir bitten um Entschuldigung für die Umstände.
Beschreibung
A market for tradable green certificates (TGCs) is strongly interwoven in the electricity market in that the producers of green electricity are also the suppliers of TGCs. Therefore, strategic interaction may result. We formulate an analytic equilibrium model for simultaneously functioning electricity and TGC markets, and focus on the role of market power (i.e., Stackelberg leadership). One result is that a certificate system faced with market power may collapse into a system of per-unit subsidies. Also, the model shows that TGCs may be an imprecise instrument for regulating the generation of green electricity.