Real‐time versus day‐ahead market power in a hydro‐based electricity market
构建理论框架分析水电批发电力市场中实时与日前竞争的关系，利用北欧电力交易所Nord Pool的详细交易和价格数据，检验瑞典增加价格区域改革前后的市场表现，发现部分区域存在不完全竞争。
This paper develops a theoretical framework to analyze the link between real‐time and day‐ahead competition in a hydro‐based wholesale electricity market. Predictions of the model are tested on a detailed data set of trades and prices from the Nordic power exchange, Nord Pool. We study market performance before and after a reform that increased the number of price areas (local markets) in Sweden, and reject the hypothesis of perfect competition in some of the Swedish price areas. Our results suggest that firms exercised some local market power during the sample period.