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5 Dec 2023: November 2005. Corresponding author. University of Cambridge, Faculty of Economics, Austin Robinson Building, Sidgwick Avenue, Cambridge CB3 9DE, UK Email: tooraj.jamasb@econ.cam.ac.uk, Phone: 44-(0)1223-335271,

9 Jul 2023: 138 Lilach Nachum David Keeble ESRC Centre for Business Research ESRC Centre for Business Research University of Cambridge and Department of Geography Austin Robinson Building University of Cambridge Sidgwick Avenue Downing

5 Dec 2023: Faculty of Economics, University of Cambridge, Sidgwick Avenue, Cambridge, CB3 9DE, UK.

31 Jan 2024: Social Anthropology) Russian-European natural gas pipelines (Alison Richard Building (Sidgwick Site), Seminar Room SG2). ... France) French vs. British nuclear power (Alison Richard Building (Sidgwick Site), Seminar Room SG2).

5 Dec 2023: Gert Brunekreeft1. Department of Applied Economics University of Cambridge. Sidgwick Avenue CB3 9DE Cambridge, UK.

11 Dec 2023: Keywords Carbon tax; Bilateral trading; Carbon leakage; Electricity market. JEL Classification Q48; F14; D61; C13 Affiliations: a Energy Policy Research Group, Faculty of Economics, University of Cambridge, Sidgwick Ave., Cambridge, CB3 ... School of

8 Feb 2024: Contact address: Faculty of Economics, Sidgwick Avenue, Cambridge, CB3 9DE; dmgn@cam.ac.uk.

5 Dec 2023: University of Cambridge, Sidgwick Avenue. CB3 9DE Cambridge UK g.brunekreeft@econ.cam.ac.uk. http://www.econ.cam.ac.uk/dae/index.htm 15 Sept 2003.

9 Jul 2023: and Department of Applied Economics Austin Robinson Building. Sidgwick Avenue Cambridge CB3 9DE.

5 Dec 2023: Judge Institute of Management, University of Cambridge. December 2003. Corresponding author: Department of Applied Economics, University of Cambridge, Sidgwick Avenue,Austin Robinson Building, Cambridge, CB3 9LW, UK, email:

11 Dec 2023: of Economics, Sidgwick Ave., Cambridge, CB3 9DD, UK 3 I am indebted to very helpful comments from two referees and David Reiner, and to helpful advice from Alastair Davies, but take

5 Dec 2023: Karsten Neuhoff Faculty of Economics University of Cambridge Sidgwick Avenue Cambridge CB3 9DE UK Phone : 44 1223 335290 Fax : 44 1223 335299 email : karsten.neuhoff@econ.cam.ac.uk.

8 Dec 2023: It draws on day-ahead and balancing market price data to. 1 dmgn@cam.ac.uk, mail: Faculty of Economics, Sidgwick Avenue, Cambridge.

5 Dec 2023: Faculty of Economics, University of Cambridge, Sidgwick. Avenue, Austin Robinson Building, Cambridge CB3 9DE, United Kingdom.

6 Dec 2023: Corresponding author. Faculty of Economics, ESRC Electricity Policy Research Group,. University of Cambridge, Sidgwick Avenue, Austin Robinson Bldg., Cambridge CB3 9DE, UK.

5 Dec 2023: Cambridge Working Papers in Economics CWPE 0470. Electricity Generation with Looped. Transmission Networks: Bidding to an ISO. Xinmin Hu, Daniel Ralph, Eric K. Ralph,. Peter Bardsley and Michael C. Ferris. Massachusetts Institute of Technology.

9 Jul 2023: Working Paper No. 136 David Ladipo Hannah Reed School of Sociology & Political Sciences ESRC Centre for Business Research University of Nottingham University of Cambridge University Park Austin Robinson Building Nottingham Sidgwick ... Sidgwick Avenue

5 Dec 2023: Sidgwick Avenue, Cambridge CB3 9DE, UK Email: tooraj.jamasb@econ.cam.ac.uk. Paul Nillesen. Regulatory Affairs, REMU NV Kuelsekade 189, Utrecht, The Netherlands.

5 Dec 2023: Box 37154, 1030 AD, Amsterdam, The Netherlands. 2University of Cambridge, Faculty of Economics, Sidgwick Avenue, Cambridge CB3 9DE, UK 3The Johns Hopkins University, Department of Geography and Environmental Engineering,.

5 Dec 2023: At the time. Professor, Department of Applied Economics, University of Cambridge, Sidgwick Avenue,Cambridge, England CB3 9DE (E-mail: dmgn@econ.cam.ac.uk).