Published:
26 April 2007
Online ISBN:
9781383036367
Print ISBN:
9780199229703
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Joskow*, Paul L, 'Competitive Electricity Markets and Investment in New Generating Capacity', in Dieter Helm (ed.), Concepts, in Dieter Helm (ed.), The New Energy Paradigm (Oxford , 2007; online edn, Oxford Academic, 31 Oct. 2023), https://doi.org/10.1093/oso/9780199229703.003.0005, accessed 22 Apr. 2026.
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Chapter
4 Competitive Electricity Markets and Investment in New Generating Capacity
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Pages
76–121
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Published:26 April 2007
Cite
Joskow*, Paul L, 'Competitive Electricity Markets and Investment in New Generating Capacity', in Dieter Helm (ed.), Concepts, in Dieter Helm (ed.), The New Energy Paradigm (Oxford , 2007; online edn, Oxford Academic, 31 Oct. 2023), https://doi.org/10.1093/oso/9780199229703.003.0005, accessed 22 Apr. 2026.
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Abstract
Policy-makers in many countries are expressing concerns that competitive wholesale electricity markets are not providing appropriate incentives to stimulate ‘adequate’ investment in new generating capacity at the right time, in the right places, and using the right technologies. These concerns are often expressed in the context of concerns about ‘supply security’, ‘reliability’, ‘resource adequacy’, or ‘supply diversity’. In most cases the concerns have been raised as policy-makers observe growing electricity demand, shrinking reserve margins, and rising prices, but little evidence of investment in new generating capacity responding to balance supply and demand consistent with traditional metrics for generation resource ‘adequacy’.
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Citations
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