Market Analysis Ltd is an economics consulting group specializing in competition policy, regulatory reform and market design. Drawing on the expertise of leading academic economists in Europe and the Americas, we advise private companies and public sector organisations in regulatory inquiries, competition policy cases and auction strategy and design. Established in 1995, Market Analysis has an unrivalled reputation for applying leading-edge economic analysis to the challenges faced by firms and policy-makers in the UK, Europe and internationally. We have advised clients in many of the most high-profile regulatory inquiries and competition policy cases of recent years.

Market Analysis has consulted with various Spanish energy companies on the details of the recently proposed Spanish electricity capacity market to be finalized later this year. The proposal is for a centralized capacity procurement auction as has been adopted in electricity markets in North America, Europe, South America and elsewhere. A pay-as-bid auction is being considered with a reserve price for existing generation plant, similar to that adopted in Belgium in 2021.

Tony Curzon Price has worked as a staff economist at the Competition Commission, at the Competition and Markets Authority, as advisor to the Secretary of State for Business Energy and Industrial Strategy and in the Number 10 policy unit. He has a particular interest in public policy issues related to energy, environment, data, platforms and market power.

In 2024 Market Analysis was retained by a UK energy company to provide an analysis of bidding behaviour by renewable generators in the balancing market in the presence of Contracts for Difference (CfDs). The bidding behaviour of CfD supported renewable generators in the market has been under review by the UK’s energy regulator, Ofgem, for potential breaches of competition rules.

In 2022 Market Analysis collaborated with Europe Economics on the design of the initial auctions for the new EU emissions trading system covering fuel for buildings and road transport on behalf of the European Commission’s DG CLIMA. We are also collaborating on a market consultation and analysis of the participation of firms in the auctions and secondary markets.

Market Analysis was retained by AES Chivor Colombia to assist in formulating AES’s bidding strategy in the Colombian auction for long-term renewable energy contracts held October 22, 2019.

by Nils-Henrik von der Fehr and David Harbord, 25 April 2018.

by David Harbord, November 2016. This report contains analysis and recommendations on four proposals for electricity market reform put by the Colombian Comision de Regulacion de Energia y Gas (CREG) to a panel of international experts convened in 2016.

by David Harbord and Nils-Henrik von der Fehr, 24 July 2016. We point out some simple mathematical errors in the article “Indirect reciprocity with optional interactions” by Whan Ghang and Martin Nowak (Journal of Theoretical Biology 365 (2015) 1–11), which invalidate many of their results and conclusions. We note various ways that these errors could be fixed and discuss some other issues with the paper.