Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 10th Sept 2026, 07:06:38pm CEST (Norway)
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Daily Overview |
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Electricity markets Location: Auditorium O: Terje Hansen Session Chair: Till Fladung, ifo-Institut for economic research | |
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Electricity Prices during the Energy Crisis in Germany: The Role of Market Power 1: ifo-Institut for economic research, Germany; 2: University of Bayreuth; 3: Bavarian Center for Battery Technology (BayBatt) During the energy crisis in 2022, electricity prices in Germany soared to unprecedented levels. To explore the drivers of the high electricity prices, we develop an electricity dispatch model that simulates hourly equilibrium prices under the assumption of perfect competition. We then extend this model to account for firms exercising market power. By comparing the outcomes of the perfect competition and Cournot competition models with actual market data, we demonstrate that market power may contributed to higher prices during the crisis, elevating them beyond what rising input costs alone would justify. | |