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Published in:
2011 | OriginalPaper | Chapter
5. Market Perfection in a Changing Energy Environment
Authors : André Dorsman, Kees van Montfort, Paul Pottuijt
Published in: Financial Aspects in Energy
Publisher: Springer Berlin Heidelberg
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Abstract
During the last decade of the twentieth century energy markets changed rapidly. National orientated electricity networks were more and more linked to each other. A large step was the coupling of the spot markets of Belgium, France and The Netherlands in 2006. The integration of markets is a continuing process with realization in 2010 of a market coupling between Central Western European region (CWE, consisting of Belgium, Germany, France, Luxemburg and Netherlands) and the Nordic region. In 2011 the United Kingdom will also be part of an enlarged area where market coupling is applied, expected to be followed by further extensions of the region with Southern- and/or Eastern European markets. This chapter deals with the imperfections of the electricity spot markets. We will focus on the (capacity of) interconnectors between national grids in Europe. The relevant question is: are connectors a limiting factor in the priceforming process on electricity day ahead markets.