publication . Article . 2020

Exploring investment potential in a context of nuclear phase-out uncertainty: Perfect vs. imperfect electricity markets

Julia de Frutos Cachorro; Gwen Willeghems; Jeroen Buysse;
Embargo
  • Published: 01 Jun 2020 Journal: Energy Policy, volume 144, page 111,640 (issn: 0301-4215, Copyright policy)
  • Publisher: Elsevier BV
  • Country: Spain
Abstract
Abstract In view of the ongoing nuclear power debate in Europe, we analyze how uncertainty about a nuclear phase-out affects investment capacity decisions by Belgian electricity suppliers depending on the type of market structure considered. To achieve this goal, we build a structural model and solve it by using game-theoretic and optimization approaches, in order to consider the different types of market structure, namely oligopoly (simplified to a duopoly in this case), and the two extremes of the competition spectrum, i.e., monopoly and perfect competition. We show that higher levels of investment in new electricity generation capacity are reached with decrea...
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Subjects
free text keywords: General Energy, Management, Monitoring, Policy and Law, Energia nuclear, Energia elèctrica, Competència econòmica, Incertesa, Nuclear energy, Electric power, Competition, Uncertainty, Nuclear power debate, business.industry, business, Oligopoly, Economics, Electricity generation, Duopoly, Microeconomics, Perfect competition, Market structure, License, Monopoly
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