EFECTOS DE LA LIBERALIZACIÓN EN EL POOL ELÉCTRICO ESPAÑOL: ¿EFICIENCIA O COMPORTAMIENTO ESTRATÉGICO?

In the last decade, a liberalization process was developed in electricity sector of various countries with the objective of increasing economic efficiency of electricity enterprise. In this context, the creation of wholesale electricity markets (electricity pool) is placed as the key element of the...

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Bibliographic Details
Published in:Boletín de estudios económicos 2005-08, Vol.60 (185), p.333
Main Authors: Álvarez, María Teresa García, Pérez, Rosa María Mariz
Format: Article
Language:eng ; spa
Subjects:
Competition
Economics
Electric rates
Electric utilities
Liberalism
Studies
Online Access:Get full text
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Summary:In the last decade, a liberalization process was developed in electricity sector of various countries with the objective of increasing economic efficiency of electricity enterprise. In this context, the creation of wholesale electricity markets (electricity pool) is placed as the key element of the new electricity systems. However, although the functioning of pool is based on a competitive auction mechanism, the international experience shows the presence of pool prices higher than competitive prices. In this paper, we develop a simulation model of Spanish electricity pool, by means of System Dynamics, with the objective of studying the years established between 1999 and 2004. In such model, whose central element is the algorithm of dispatching of the supplies of daily market, we will analyze if Spanish electricity pool is really competitive or if generator enterprises have had incentives to develop a strategic behaviour. [PUBLICATION ABSTRACT]
ISSN:0006-6249