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Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market

Year 2013, Volume: 3 Issue: 3, 221 - 228, 01.09.2013

Abstract

During the restructuring process, Turkish electricity sector has gone through significant changes both in wholesale and retail markets. In this framework, the Market Financial Settlement Mechanism established for handling market imbalances has become a spot market in time. So, it can be claimed that the wholesale electricity market in Turkey is a hybrid mechanism composed of bilateral contracts and the balancing market. On the other hand, the main target of liberalization program is providing consumers with affordable electric power. Hence, this study attempts to explore the link between retail tariffs for ineligible consumers and prices in the two wholesale mechanisms, in the period after the launch of the day-ahead market. Findings suggest that regulated wholesale prices are more effective in the determination of end-user prices, whereas unregulated ones might have a price reduction effect in case the free market dominates. However, the volatility in spot market prices implies that the sector would better continue with the hybrid mechanism for quite some time.

Year 2013, Volume: 3 Issue: 3, 221 - 228, 01.09.2013

Abstract

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Details

Other ID JA92SA67CH
Journal Section Research Article
Authors

Hatice Karahan This is me

Mehmet Toptas This is me

Publication Date September 1, 2013
Published in Issue Year 2013 Volume: 3 Issue: 3

Cite

APA Karahan, H., & Toptas, M. (2013). Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market. International Journal of Energy Economics and Policy, 3(3), 221-228.
AMA Karahan H, Toptas M. Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market. IJEEP. September 2013;3(3):221-228.
Chicago Karahan, Hatice, and Mehmet Toptas. “Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market”. International Journal of Energy Economics and Policy 3, no. 3 (September 2013): 221-28.
EndNote Karahan H, Toptas M (September 1, 2013) Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market. International Journal of Energy Economics and Policy 3 3 221–228.
IEEE H. Karahan and M. Toptas, “Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market”, IJEEP, vol. 3, no. 3, pp. 221–228, 2013.
ISNAD Karahan, Hatice - Toptas, Mehmet. “Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market”. International Journal of Energy Economics and Policy 3/3 (September 2013), 221-228.
JAMA Karahan H, Toptas M. Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market. IJEEP. 2013;3:221–228.
MLA Karahan, Hatice and Mehmet Toptas. “Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market”. International Journal of Energy Economics and Policy, vol. 3, no. 3, 2013, pp. 221-8.
Vancouver Karahan H, Toptas M. Pricing Electric Power under a Hybrid Wholesale Mechanism: Evaluating the Turkish Electricity Market. IJEEP. 2013;3(3):221-8.