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What is Market Power

Chapter 14
Handbook of Research on Power and Energy System Optimization
Market power is the ability to raise the prices above the competitive level without affecting the generator’s dispatch.
Published in Chapter:
Market Power in Deregulated Power System
Mohammad Quadeer Fahad (Jamia Millia Islamia, India), Mohd Tauseef Khan (Jamia Millia Islamia, India), and Anwar Shahzad Siddiqui (Jamia Millia Islamia, India)
Copyright: © 2018 |Pages: 31
DOI: 10.4018/978-1-5225-3935-3.ch014
Abstract
In today's competitive market, deregulation of power industry is inevitable. The aim of deregulating the power markets is to bring competition into them and thereby make them more economically efficient. In an economically efficient market, no consumer or producer has the ability to impact on prices by itself or by collaborating with any other participant. However, the electricity wholesale market is not a perfect market and the potential for market power exploitation is an issue. Sometimes private companies collaborate with each other to get more profit, driving the prices to a higher level and thus acquiring a market power which is an anti-competitive practice. Thus, market power is the capability of a seller or a group of sellers to profitably maintain the prices above a competitive level and control the total output for a noteworthy period of time.
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More Results
Chapter 5
Competition Law and the Transition to Low-Carbon in Indonesia
Market power is the ability that a company has so that it can influence the price of its product in the market. All consumers and producers can be considered as someone who influences. In the market itself, manipulated prices can be in the form of goods or services. So that directly or indirectly the level of demand and supply will be affected. In general, this is done to obtain profits that can exceed long-term costs and marginal costs.
Published in Chapter: Competition Law and the Transition to Low-Carbon in Indonesia; From: Regulating Fair Competition Toward Sustainable Development Goals
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Chapter 1
Reconsidering E-Commerce Platforms Competition Law in Enhancing Sustainable Consumption and Production
A tool that is integral to competition law enforcement to assess the market size of a firm. The traditional concept of market power focusing on price has been challenged by the complexity of the digital markets wherein platforms employ emerging business models to gain and maintain monopoly power, including via zero-priced goods and services subsidized by ad revenue generated in the markets. Focusing on behavioural futures markets as the main source of profits and market power, subsided consumption via negative mark-ups or zero prices can no longer be an indicator of low market power in a multi-sided digital market.
Published in Chapter: Reconsidering E-Commerce Platforms Competition Law in Enhancing Sustainable Consumption and Production; From: Regulating Fair Competition Toward Sustainable Development Goals
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Chapter 10
Competition, Regulation and Broadband Diffusion in New Zealand
The ability of a firm to set prices profitably above competitive levels (marginal cost).
Published in Chapter: Competition, Regulation and Broadband Diffusion in New Zealand; From: Handbook of Research on Global Diffusion of Broadband Data Transmission
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Chapter 1
Introduction to the Economics of Animal and Plant Biosecurity
The ability by participant, or group of participants to influence the outcome of a market.
Published in Chapter: Introduction to the Economics of Animal and Plant Biosecurity; From: Tactical Sciences for Biosecurity in Animal and Plant Systems
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