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Estimación del precio marginal del sistema eléctrico colombiano: una mirada desde la organización industrial
| Content Provider | Semantic Scholar |
|---|---|
| Author | Venslauskas, Ona Duarte Rendon, John J. García |
| Copyright Year | 2015 |
| Abstract | We analyze the behavior of spot prices in the Colombian wholesale power market, using a series of models derived from industrial organization theory. We first create a Cournot-based model that simulates the strategic behavior of the market-leader power generators, which we use to estimate two industrial organization variables, the Index of Residual Demand and the Herfindahl-Hirschman Index (HHI). We use these variables to create VAR models that estimate spot prices and power market impulse-response relationships. The results from these models show that hydroelectric generators can use their water storage capability strategically to affect off-peak prices primarily, while the thermal generators can manage their capacity strategically to affect on-peak prices. In addition, shocks to the Index of Residual Capacity and to the HHI cause spot price fluctuations, which can be interpreted as the generators´ strategic response to these shocks. |
| Starting Page | 1 |
| Ending Page | 23 |
| Page Count | 23 |
| File Format | PDF HTM / HTML |
| DOI | 10.17230/ecos.2015.41.1 |
| Volume Number | 19 |
| Alternate Webpage(s) | https://repository.eafit.edu.co/bitstream/handle/10784/5024/2014_23_John_Jairo_Garcia.pdf?isAllowed=y&sequence=2 |
| Alternate Webpage(s) | https://doi.org/10.17230/ecos.2015.41.1 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
