气候变化领域集成服务门户(CCPortal): COVID-19 lockdown and market power in the Italian electricity market

CCPortal

DOI	10.1016/j.enpol.2021.112700
	COVID-19 lockdown and market power in the Italian electricity market
	Bigerna S.; Bollino C.A.; D'Errico M.C.; Polinori P.
发表日期	2022
ISSN	0301-4215
卷号	161
英文摘要	The Italian electricity market was characterized by a remarkable decrease in demand during the COVID-19 lockdown (10 March to 2 June 2020). There were also negative peaks of over 50% and record low prices of about 20 Euro/MW. This paper aims to investigate the exercise of market power in the Italian power exchange during the pandemic, explicitly considering transmission line congestion, and disentangling the measure of the unilateral market power from congestion rent and re-dispatching costs. We computed the Zonal Lerner Index for every hour in January–June 2020 for the main operators on the supply and the demand side in the Italian day-ahead market. Furthermore, we analyzed the correlation between market power, congestion, and the effect of COVID-19. The results showed that the exercise of market power on the supply (mark-up) and demand (mark-down) sides were considerably weakened during peak hours by massive demand reduction. However, it was surprisingly reinforced during emergency periods in specific off-peak hours. Overall, the main players have somehow increased the intensity of market power during the COVID-19 pandemic crisis, which calls for more pro-competitive action by the regulatory authority and paying more attention to heterogeneous players’ behaviors. © 2021 Elsevier Ltd
英文关键词	COVID-19 pandemic lockdown; Electricity market; Mark-down; Mark-up; Market power; Zonal lerner index
语种	英语
scopus关键词	Costs; Locks (fasteners); Power markets; COVID-19 pandemic lockdown; Lerner index; Line congestions; Lowest price; Mark-down; Mark-up; Market Power; Power exchange; Transmission-line; Zonal lerne index; Electric industry; correlation; COVID-19; electricity supply; energy market; Italy
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256417
作者单位	Department of Economics, University of Perugia, Via A. Pascoli 20, Perugia, 06123, Italy
推荐引用方式 GB/T 7714	Bigerna S.,Bollino C.A.,D'Errico M.C.,et al. COVID-19 lockdown and market power in the Italian electricity market[J],2022,161.
APA	Bigerna S.,Bollino C.A.,D'Errico M.C.,&Polinori P..(2022).COVID-19 lockdown and market power in the Italian electricity market.Energy Policy,161.
MLA	Bigerna S.,et al."COVID-19 lockdown and market power in the Italian electricity market".Energy Policy 161(2022).