NDLI: Application of a conjectural variations model to analyze the competitive behavior in the Iberian electricity market

Content Provider	IEEE Xplore Digital Library
Author	Lagarto, J. de Sousa, J. Martins, A.
Copyright Year	2011
Description	Author affiliation: ADESPA / Lisbon Engineering Superior Institute, Av. Conselheiro Emídio Navarro, 1, Lisbon, Portugal (Lagarto, J.; de Sousa, J.) \|\| Economics and Management Institute (ISEG), Technical University of Lisbon, Rua Miguel Lúpi, 10, Lisbon, Portugal (Martins, A.)
Abstract	Electricity market prices can be influenced by many drivers, such as fuel costs, CO2 emission prices, hydro and other renewable production and strategic behavior of firms that participate in the market. One of the aims of the liberalization process of the electricity industry was to bring electricity prices more in line with costs. Therefore, the influence that the strategic behavior of firms might have in market prices is a concern. This paper analyzes the strategic behavior of three medium size firms acting in the Iberian electricity market (IBELM) in the first year after its implementation, that is, from July 2007 to June 2008. This strategic behavior is analyzed by computing an hourly competitive parameter which is obtained from a conjectural variation model. Then the evolution of the monthly average of this conjectural variation parameter is studied. Results showed that some of the analyzed firms did not reflect in market prices the increase in fuel costs and in CO2 emission prices that occurred in the first six months of 2008.
Starting Page	857
Ending Page	862
File Size	601790
Page Count	6
File Format	PDF
ISBN	9781612842851
e-ISBN	9781612842868
e-ISBN	9781612842844
DOI	10.1109/EEM.2011.5953129
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2011-05-25
Publisher Place	Croatia
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Economics Electricity Europe Coal Electricity supply industry Power generation
Content Type	Text
Resource Type	Article

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