The article is related to a topical issue of the newly-arisen market power phenomenon in the electric power industry. The authors point out to the importance of effective instruments and methods for credible estimation of the market power on liberalized electricity market as well as the forms and consequences of market power abuse. The fundamental principles and methods of the market power estimation are given along with the most common relevant indicators. Furthermore, in the work a proposal for determination of the relevant market place taking into account the specific features of power system and a theoretical example of estimating the residual supply index (RSI) in the electricity market are given.

Method of Power System Suistanable Development Optimization in Liberalized Market Conditions The paper is focused on the development of the Baltic Sea region taking into account the new EU energy policy. The authors elucidate the current situation and the power system infrastructure projects of the region. For the economic analysis and optimization of the development plans a method is proposed that takes into account the outlooks for upcoming 20-50 years and the initial information uncertainty. The method makes possible estimation of the technically-economic state, including market conditions, for a given power system.

The aim of this paper focuses on the analysis of system spot price formation factors formed by the organized electricity market operated by the Nord Pool Spot power exchange. Analysis and statistical evaluation of historical data has been performed in order to identify and rank factors according to the price impact as well as to analyze their seasonal weight. Results of this analysis should contribute to the understanding of main drivers in the system price formation; reveal possible reasons of seasonal system price fluctuations as well as occasional unpredictable price spikes which are a common feature of the spot markets.

No abstract

This article is focused on investment planning in power generation industry, which becomes an important direction of research under the conditions of newly formed environment of electricity market. The authors emphasize the key role of effective instruments and methods for estimation of the costs and economic efficiency of a generating capacity and its adequacy in a modern power system. In the paper, cost-based concepts are analyzed which form a basis for decision-making and long-term planning of investments in the power generation sector for a power system with high share of renewable energy sources.