TITLE:
Deregulated Electricity Market and Auctions: The Italian Case
AUTHORS:
Luca Grilli
KEYWORDS:
Electricity Market, Auctions, Oligopoly, Deregulation
JOURNAL NAME:
iBusiness,
Vol.2 No.3,
September
30,
2010
ABSTRACT: The Electricity Market (in Europe) undergoes a period of transformations never seen before. The competitive model suggested by the European Commission is based on a gradual increase in the classes of consumers able to choice, freely, their providers. In general, liberalization, deregulation, competition result in a spur to development and low prices for consumers. The Electricity Market isn’t likely to follow such a rule. Electricity Markets are best described and analyzed as first-price multi-unit procurement iterated auctions. In this paper we present an analysis of the Italian case in order to show the effects of deregulation on final prices for users.