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- Title
Bringing in Liquidity and Transparency when the Power Sector is Consolidated: The Duty to Trade on the Power Exchange.
- Authors
Swora, Mariusz; Kamiński, Jacek
- Abstract
The paper discusses an energy policy instrument that was introduced in the power sector in order to reduce inefficient in-group electricity trading that was a source of soaring electricity prices. The remedy was especially tailored to correct the market failure that occurred in the Polish power market as a result of both: (i) the termination of Long Term Contracts and (ii) the governmentally steered consolidation of the power sector that also involved vertical integration. Several behavioural and structural instruments are considered and the reasoning supporting selection of the most appropriate one is given. The outcomes of qualitative analysis confirm that the remedy applied, namely the introduction of the PX duty to trade into the Polish Energy Law, was a successful market reform. The research carried out in this paper contributes to scientific knowledge on regulatory and policy issues and the solutions adopted can be considered as one of possible solutions of problems related to the lack of transparency and liquidity of power markets.
- Subjects
ENERGY industry mergers; LIQUIDITY (Economics); ENERGY policy
- Publication
Review of Economics & Institutions / Economia, Societa e Istituzioni, 2017, Vol 8, Issue 1, p1
- ISSN
1593-9456
- Publication type
Article
- DOI
10.5202/rei.v8i1.248