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Lernmaterialien für Energy Economics an der Leibniz Universität Hannover
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1)
- relatively large number of suppliers
- large number of steel mills, electricity firms
2)
- number of different types of coal
- markets for types of coal might be large enough
3)
- only be mined when reserves
- sunk investment costs (esp. for surface mines)
- enough mines to come close to that condition
=> perfect conditions not entirely met but closer to perfect competition than oligopoly
- need to be exporter
- must be accepted by 3/4 of members & founding members
OTC
+ flexible conditions
- not transparent
- high TAC
energy exchanges (trading on public platform)
+ standardized products
+ prices & volumes published
+ low TAC
- transmitted by grids
-> only if network is available
-> if supply & demand deviate too much -> collapse
- not storable
-> only small amount by batteries
- d & s need to be equal
- technically homogeneous
- hard to substitute
- electricity generation (main use)
- steel production
- coal liquefation
- cement production
- property rights: +
- externalities: -
-> not free from externalities (damage of environment, emissions...)
- different types of carbon
- normally liquid
- composition differs between reservoirs
...
Why do Transmission System Operators (TSO) hold a monopoly in their region?
- cost structure:
-> fixed high costs (construction & maintenance of grid)
-> low marginal costs
=> electricity grid as natural monopoly
