Marktstrukturanalyse der Stromwirtschaft

This industrial economic analysis deals with the operating reserve market as part of the power industry. The players, markets, products and institutional relations are presented.
For the assessment of unbundling, regulation and competition in the operating reserve market, an analytical framework is developed. It is shown for the first time that, with the help of the insurance theory, an elastic reserve demand function can be derived from the expected utility approach. This opens up new perspectives for future discussions in the power industry. Thus, the problems of reserve demand functions that were inelastic so far are overcome. A large number of reserve market structure scenarios are analysed.
The findings of the structural analysis are related to the European and German regulatory framework. It is shown which market structure scenarios are best compatible with the regulatory framework and with the objectives of the institutions in the EU and Germany.