• Search Research Projects
  • Search Researchers
  • How to Use
  1. Back to previous page

An empirical analysis on vertically-linked multiple power markets in oligopoly

Research Project

Project/Area Number 23653064
Research Category

Grant-in-Aid for Challenging Exploratory Research

Allocation TypeMulti-year Fund
Research Field Applied economics
Research InstitutionNational Graduate Institute for Policy Studies

Principal Investigator

OKAMOTO Ryosuke  政策研究大学院大学, 政策研究科, 准教授 (60323945)

Co-Investigator(Kenkyū-buntansha) HOSOE Nobuhiro  政策研究大学院大学, 政策研究科, 准教授 (60313483)
TANAKA Makoto  政策研究大学院大学, 政策研究科, 准教授 (10377137)
IKEDA Shinsuke  政策研究大学院大学, 政策研究科, 助教授 (90598567)
Project Period (FY) 2011 – 2012
Project Status Completed (Fiscal Year 2012)
Budget Amount *help
¥3,380,000 (Direct Cost: ¥2,600,000、Indirect Cost: ¥780,000)
Fiscal Year 2012: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2011: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Keywords電力自由化 / 卸市場分析 / 小売市場分析 / アンバンドリング / 小売市場 / 卸市場
Research Abstract

In this study, we examined the retail market with auction data and found that deregulation would increase the number of bids by entrants to lower the power charges by 0.48yen/kWh on average. The analysis on the wholesale market with the JEPX day-ahead spot market data revealed that the estimated spreads were on average at least 50 times as large as the one in the well-functioning S&P500 index futures market. Finally, we discussed the solvency issue of Tokyo Electric Power Company and unbundling of the Japan’s power market in the context of the Fukushima Daiichi Nuclear Disaster.

Report

(3 results)
  • 2012 Annual Research Report   Final Research Report ( PDF )
  • 2011 Research-status Report
  • Research Products

    (31 results)

All 2012 2011 Other

All Journal Article (13 results) (of which Peer Reviewed: 2 results) Presentation (18 results) (of which Invited: 4 results)

  • [Journal Article] Spatial price homogeneity as a mechanism to reduce the threat of regulatory intervention in locally monopolistic sectors2012

    • Author(s)
      Magnus Soderberg and Makoto Tanaka
    • Journal Title

      Cerna Working Paper Series

      Volume: 2012-ME-02 Pages: 1-27

    • URL

      http://www.i-3.fr/wp-content/uploads/2012/05/i3WP_12-ME-022.pdf

    • Related Report
      2012 Annual Research Report 2012 Final Research Report
  • [Journal Article] Divestiture of TEPCO for Reparation for the Fukushima Nuclear Accident-A Path to Vertical Unbundling2012

    • Author(s)
      Hosoe, N., Tanaka, M
    • Journal Title

      Energy Policy

      Volume: Vol.51 Pages: 207-212

    • DOI

      10.1016/j.enpol.2012.09.013

    • Related Report
      2012 Annual Research Report 2012 Final Research Report
    • Peer Reviewed
  • [Journal Article] Retail power market competition with endogenous entry decision―An auction data analysis2012

    • Author(s)
      Nobuhiro Hosoe and Shingo Takagi
    • Journal Title

      Journal of the Japanese and International Economies

      Volume: 26(3) Issue: 3 Pages: 351-368

    • DOI

      10.1016/j.jjie.2012.05.002

    • NAID

      210000179992

    • Related Report
      2012 Annual Research Report 2012 Final Research Report
    • Peer Reviewed
  • [Journal Article] How Much is TEPCO Worth?-Estimating the Fundamental Value of its Thermal Plants2012

    • Author(s)
      Hosoe, N., Tanaka, M
    • Journal Title

      GRIPS Discussion Paper

      Volume: Vol.12 No.2 Pages: 1-15

    • URL

      http://r-center.grips.ac.jp/JPDiscussionPapersDetails/202/#

    • Related Report
      2012 Final Research Report
  • [Journal Article] An Empirical Market Microstructure Analysis of the Implied Spread Cost in the Japanese Day-Ahead lectricity Market2012

    • Author(s)
      Ikeda, S.S
    • Journal Title

      GRIPS Discussion Paper

      Volume: 12-22 Pages: 1-27

    • Related Report
      2012 Final Research Report
  • [Journal Article] How Much is TEPCO Worth?-Estimating the Fundamental Value of its Thermal Plants2012

    • Author(s)
      Hosoe, N., Tanaka, M.
    • Journal Title

      GRIPS Discussion Paper

      Volume: 12-02 Pages: 1-15

    • Related Report
      2012 Annual Research Report
  • [Journal Article] An Empirical Market Microstructure Analysis of the Implied Spread Cost in the Japanese Day-Ahead Electricity Market.2012

    • Author(s)
      Ikeda, S.S.
    • Journal Title

      GRIPS Discussion Paper

      Volume: 12-22 Pages: 1-27

    • Related Report
      2012 Annual Research Report
  • [Journal Article] Spatial price homogeneity as a mechanism to reduce the threat of regulatory intervention in locally monopolistic sectors2012

    • Author(s)
      Magnus Soderberg, Makoto Tanaka
    • Journal Title

      Cerna Working Paper Series

      Volume: 2012-02 Pages: 1-27

    • Related Report
      2011 Research-status Report
  • [Journal Article] 電力不足対策に市場機能活用とスマートコミュニティの構築を2011

    • Author(s)
      田中誠,依田高典
    • Journal Title

      週刊ダイヤモンド

      Pages: 86-93

    • NAID

      40018784238

    • URL

      http://diamond.jp/articles/-/12432

    • Related Report
      2012 Final Research Report
  • [Journal Article] 原発事故賠償問題と電力産業の再生2011

    • Author(s)
      田中誠
    • Journal Title

      経済セミナー『復興と希望の経済学』

      Volume: 増刊号 Pages: 172-176

    • Related Report
      2012 Final Research Report 2011 Research-status Report
  • [Journal Article] 東電賠償原資調達スキームと必然的アンバンドリング(改訂版)2011

    • Author(s)
      細江宣裕,田中誠
    • Journal Title

      GRIPS Discussion Paper

      Volume: 11-02 Pages: 1-27

    • URL

      http://r-center.grips.ac.jp/JPDiscussionPapersDetails/202/#

    • Related Report
      2012 Final Research Report
  • [Journal Article] 電力不足対策に市場機能活用とスマートコミュニティの構築を2011

    • Author(s)
      田中誠, 依田高典
    • Journal Title

      週刊ダイヤモンド

      Volume: 5月号 Pages: 86-93

    • NAID

      40018784238

    • Related Report
      2011 Research-status Report
  • [Journal Article] 東電賠償原資調達スキームと必然的アンバンドリング(改訂版)2011

    • Author(s)
      細江宣裕, 田中誠
    • Journal Title

      GRIPS Discussion Paper

      Volume: 11-04 Pages: 1-26

    • Related Report
      2011 Research-status Report
  • [Presentation] A StructuralEstimation Approach to an AsymmetricAuction Model for the Retail PowerMarket2012

    • Author(s)
      高木真吾 , 細 江 宣 裕
    • Organizer
      大阪大学社会経済研究所研究会
    • Place of Presentation
      大阪大学社会経済研究所(招待講演)
    • Year and Date
      2012-10-31
    • Related Report
      2012 Final Research Report
  • [Presentation] 電力小売市場の非対称入札モデルに関する構造推定2012

    • Author(s)
      高木真吾,細江宣裕
    • Organizer
      企業動学研究会
    • Place of Presentation
      一橋大学(招待講演)
    • Year and Date
      2012-10-25
    • Related Report
      2012 Final Research Report
  • [Presentation] 電力小売市場の非対称入札モデルに関する構造推定2012

    • Author(s)
      高木真吾,細江宣裕
    • Organizer
      経済理論・政策ワークショップ
    • Place of Presentation
      青山学院大学経済研究所(招待講演)
    • Year and Date
      2012-09-11
    • Related Report
      2012 Final Research Report
  • [Presentation] Keys to Smart Home Diffusion : A Stated Preference Analysis of Smart Meters, Photovoltaic Generation, and Electric/Hybrid Vehicles2012

    • Author(s)
      Ida, T., K. Murakami, and M. Tanaka
    • Organizer
      19th Annual Conference of the European Association of Environmental and Resource Economists
    • Place of Presentation
      University of Economics, Prague, Czech Republic
    • Year and Date
      2012-06-30
    • Related Report
      2012 Final Research Report
  • [Presentation] 小売り電力市場の非対称入札モデルに関する構造推定2012

    • Author(s)
      高木真吾,細江宣裕
    • Organizer
      RIETI研究会(招待講演)
    • Place of Presentation
      経済産業研究所
    • Year and Date
      2012-06-07
    • Related Report
      2012 Final Research Report
  • [Presentation] Emissions Trading in Forward and Spot Markets for Electricity2011

    • Author(s)
      Tanaka, M., and Y. Chen
    • Organizer
      INFORMS Annual Meeting
    • Place of Presentation
      Charlotte, North Carolina
    • Year and Date
      2011-11-15
    • Related Report
      2012 Final Research Report 2011 Research-status Report
  • [Presentation] Keys to Smart Home Diffusion : A Stated Preference Analysis of Smart Meters, Photovoltaic Generation, and Electric/Hybrid Vehicles2011

    • Author(s)
      Ida, T., K. Murakami, and M. Tanaka
    • Organizer
      33rd Annual PAM Fall Research Conference
    • Place of Presentation
      Washington Marriott and Westin Georgetown hotels, Washington D.C.
    • Year and Date
      2011-11-03
    • Related Report
      2012 Final Research Report
  • [Presentation] 非対称情報下の小売電力市場の入札モデルに関する構造推定2011

    • Author(s)
      高木真吾,細江宣裕
    • Organizer
      日本経済学会2011年度秋季大会
    • Place of Presentation
      筑波大学
    • Year and Date
      2011-10-30
    • Related Report
      2012 Final Research Report 2011 Research-status Report
  • [Presentation] 東電賠償原資調達スキームと必然的アンバンドリング2011

    • Author(s)
      細江宣裕,田中誠
    • Organizer
      電力新体制研究会(第4回)
    • Place of Presentation
      政策研究大学院大学
    • Year and Date
      2011-10-07
    • Related Report
      2012 Final Research Report 2011 Research-status Report
  • [Presentation] 原発事故賠償問題と電力産業の再生、東京大学社会科学研究所 プロジェクトセミナー2011

    • Author(s)
      田中誠
    • Organizer
      企業統治と産業政策:東電処理のガバナンス
    • Place of Presentation
      東京大学
    • Year and Date
      2011-07-28
    • Related Report
      2012 Final Research Report
  • [Presentation] 非対称情報下の小売電力市場の入札モデルに関する構造推定2011

    • Author(s)
      高木真吾,細江宣裕
    • Organizer
      ポリシー・モデリング・ワークショップ
    • Place of Presentation
      政策研究大学院大学
    • Year and Date
      2011-07-09
    • Related Report
      2012 Final Research Report 2011 Research-status Report
  • [Presentation] 原発事故賠償問題と電力産業の再生2011

    • Author(s)
      田中誠
    • Organizer
      東京大学社会科学研究所 プロジェクトセミナー『企業統治と産業政策:東電処理のガバナンス』
    • Place of Presentation
      東京大学
    • Related Report
      2011 Research-status Report
  • [Presentation] Keys to Smart Home Diffusion: A Stated Preference Analysis of Smart Meters, Photovoltaic Generation, and Electric/Hybrid Vehicles2011

    • Author(s)
      Ida, T., K. Murakami, and M. Tanaka
    • Organizer
      33rd Annual APPAM Fall Research Conference
    • Place of Presentation
      Washington Marriott and Westin Georgetown hotels, Washington D.C.
    • Related Report
      2011 Research-status Report
  • [Presentation] Keys to Smart Home Diffusion: A Stated Preference Analysis of Smart Meters, Photovoltaic Generation, and Electric/Hybrid Vehicles

    • Author(s)
      Ida, T., K. Murakami, and M. Tanaka
    • Organizer
      19th Annual Conference of the European Association of Environmental and Resource Economists
    • Place of Presentation
      University of Economics, Prague, Czech Republic
    • Related Report
      2012 Annual Research Report
  • [Presentation] A Structural Estimation Approach to an Asymmetric Auction Model for the Retail Power Market

    • Author(s)
      高木真吾, 細江宣裕
    • Organizer
      大阪大学社会経済研究所研究会
    • Place of Presentation
      大阪大学社会経済研究所
    • Related Report
      2012 Annual Research Report
    • Invited
  • [Presentation] 電力小売市場の非対称入札モデルに関する構造推定

    • Author(s)
      高木真吾, 細江宣裕
    • Organizer
      企業動学研究会
    • Place of Presentation
      一橋大学
    • Related Report
      2012 Annual Research Report
    • Invited
  • [Presentation] 電力小売市場の非対称入札モデルに関する構造推定

    • Author(s)
      高木真吾, 細江宣裕
    • Organizer
      経済理論・政策ワークショップ
    • Place of Presentation
      青山学院大学経済研究所
    • Related Report
      2012 Annual Research Report
    • Invited
  • [Presentation] 小売り電力市場の非対称入札モデルに関する構造推定

    • Author(s)
      高木真吾, 細江宣裕
    • Organizer
      RIETI研究会
    • Place of Presentation
      経済産業研究所
    • Related Report
      2012 Annual Research Report
    • Invited

URL: 

Published: 2011-08-05   Modified: 2019-07-29  

Information User Guide FAQ News Terms of Use Attribution of KAKENHI

Powered by NII kakenhi