Pass-through in Colombia’s unregulated retail electricity market
This study analyzes the pass-through of wholesale costs to retail prices for unregulated users in the Colombian electricity market, using monthly data from 2012 to 2019. This period encompasses moments with and without an El Niño phenomenon. We use an empirical model to analyze the pass-through hete...
- Autores:
-
Meneses, Luis
Carabalí, Jaime
Perez, Alex
- Tipo de recurso:
- Article of investigation
- Fecha de publicación:
- 2022
- Institución:
- Universidad Cooperativa de Colombia
- Repositorio:
- Repositorio UCC
- Idioma:
- OAI Identifier:
- oai:repository.ucc.edu.co:20.500.12494/46533
- Acceso en línea:
- https://hdl.handle.net/20.500.12494/46533
- Palabra clave:
- Pass-through
Electricity Markets
Retail prices
Wholesale costs
Pass-through
Electricity Markets
Retail Prices
Wholesale Costs
- Rights
- openAccess
- License
- NINGUNA
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| dc.title.spa.fl_str_mv |
Pass-through in Colombia’s unregulated retail electricity market |
| title |
Pass-through in Colombia’s unregulated retail electricity market |
| spellingShingle |
Pass-through in Colombia’s unregulated retail electricity market Pass-through Electricity Markets Retail prices Wholesale costs Pass-through Electricity Markets Retail Prices Wholesale Costs |
| title_short |
Pass-through in Colombia’s unregulated retail electricity market |
| title_full |
Pass-through in Colombia’s unregulated retail electricity market |
| title_fullStr |
Pass-through in Colombia’s unregulated retail electricity market |
| title_full_unstemmed |
Pass-through in Colombia’s unregulated retail electricity market |
| title_sort |
Pass-through in Colombia’s unregulated retail electricity market |
| dc.creator.fl_str_mv |
Meneses, Luis Carabalí, Jaime Perez, Alex |
| dc.contributor.author.none.fl_str_mv |
Meneses, Luis Carabalí, Jaime Perez, Alex |
| dc.subject.spa.fl_str_mv |
Pass-through Electricity Markets Retail prices Wholesale costs |
| topic |
Pass-through Electricity Markets Retail prices Wholesale costs Pass-through Electricity Markets Retail Prices Wholesale Costs |
| dc.subject.other.spa.fl_str_mv |
Pass-through Electricity Markets Retail Prices Wholesale Costs |
| description |
This study analyzes the pass-through of wholesale costs to retail prices for unregulated users in the Colombian electricity market, using monthly data from 2012 to 2019. This period encompasses moments with and without an El Niño phenomenon. We use an empirical model to analyze the pass-through heterogeneity according to the characteristics of users and firms, showing that the pass-through is incomplete, differs according to the presence of El Niño, and is heterogeneous. The pass-through was greater from September 2015 to May 2016 because an El Niño caused hydrological resource scarcity and several critical thermal plants halted operations. In other words, the pass-through tends to be more comprehensive during an El Niño event. Additionally, the pass-through differs between firms with a high concentration of the market and the remaining firms and between urban and non-urban users. |
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2022 |
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2022-09-27T22:34:26Z |
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2022-09-27T22:34:26Z |
| dc.date.issued.none.fl_str_mv |
2022-09-16 |
| dc.type.none.fl_str_mv |
Artículos Científicos |
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http://purl.org/coar/resource_type/c_2df8fbb1 |
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2146-4553 |
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https://hdl.handle.net/20.500.12494/46533 |
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Perez, A., Carabali, J., & Meneses, L. (2022). Pass-through in Colombia’s Unregulated Retail Electricity Market. International Journal of Energy Economics and Policy, 12(4), 575–583. https://doi.org/10.32479/ijeep.13086 |
| identifier_str_mv |
2146-4553 Perez, A., Carabali, J., & Meneses, L. (2022). Pass-through in Colombia’s Unregulated Retail Electricity Market. International Journal of Energy Economics and Policy, 12(4), 575–583. https://doi.org/10.32479/ijeep.13086 |
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https://hdl.handle.net/20.500.12494/46533 |
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https://www.econjournals.com/index.php/ijeep/article/view/13086 |
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International Journal of Energy Economics and Policy |
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NINGUNA |
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openAccess |
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575 - 583 |
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Vol. 12 N° 4 |
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Universidad Cooperativa de Colombia, Facultad de Ciencias Económicas, Administrativas y Contables, Contaduría Pública, Popayán |
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Contaduría Pública |
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Popayán |
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Universidad Cooperativa de Colombia |
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Meneses, LuisCarabalí, JaimePerez, AlexVol. 12 N° 42022-09-27T22:34:26Z2022-09-27T22:34:26Z2022-09-162146-4553https://hdl.handle.net/20.500.12494/46533Perez, A., Carabali, J., & Meneses, L. (2022). Pass-through in Colombia’s Unregulated Retail Electricity Market. International Journal of Energy Economics and Policy, 12(4), 575–583. https://doi.org/10.32479/ijeep.13086This study analyzes the pass-through of wholesale costs to retail prices for unregulated users in the Colombian electricity market, using monthly data from 2012 to 2019. This period encompasses moments with and without an El Niño phenomenon. We use an empirical model to analyze the pass-through heterogeneity according to the characteristics of users and firms, showing that the pass-through is incomplete, differs according to the presence of El Niño, and is heterogeneous. The pass-through was greater from September 2015 to May 2016 because an El Niño caused hydrological resource scarcity and several critical thermal plants halted operations. In other words, the pass-through tends to be more comprehensive during an El Niño event. Additionally, the pass-through differs between firms with a high concentration of the market and the remaining firms and between urban and non-urban users.This study analyzes the pass-through of wholesale costs to retail prices for unregulated users in the Colombian electricity market, using monthly data from 2012 to 2019. This period encompasses moments with and without an El Niño phenomenon. We use an empirical model to analyze the pass-through heterogeneity according to the characteristics of users and firms, showing that the pass-through is incomplete, differs according to the presence of El Niño, and is heterogeneous. The pass-through was greater from September 2015 to May 2016 because an El Niño caused hydrological resource scarcity and several critical thermal plants halted operations. In other words, the pass-through tends to be more comprehensive during an El Niño event. Additionally, the pass-through differs between firms with a high concentration of the market and the remaining firms and between urban and non-urban users.https://orcid.org/0000-0003-0467-8970https://scienti.minciencias.gov.co/cvlac/visualizador/generarCurriculoCv.do?cod_rh=0001379080luis.menesesc@campusucc.edu.co575 - 583Universidad Cooperativa de Colombia, Facultad de Ciencias Económicas, Administrativas y Contables, Contaduría Pública, PopayánContaduría PúblicaPopayánhttps://www.econjournals.com/index.php/ijeep/article/view/13086International Journal of Energy Economics and PolicyPass-throughElectricity MarketsRetail pricesWholesale costsPass-throughElectricity MarketsRetail PricesWholesale CostsPass-through in Colombia’s unregulated retail electricity marketArtículos Científicoshttp://purl.org/coar/resource_type/c_2df8fbb1http://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionNINGUNAinfo:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2PublicationLICENSElicense.txtlicense.txttext/plain; charset=utf-81748https://repository.ucc.edu.co/bitstreams/db269e3d-0e3e-408d-959b-d986fc9abc60/download8a4605be74aa9ea9d79846c1fba20a33MD5320.500.12494/46533oai:repository.ucc.edu.co:20.500.12494/465332024-08-10 17:58:53.563metadata.onlyhttps://repository.ucc.edu.coRepositorio Institucional Universidad Cooperativa de Colombiabdigital@metabiblioteca.comTk9URTogUExBQ0UgWU9VUiBPV04gTElDRU5TRSBIRVJFClRoaXMgc2FtcGxlIGxpY2Vuc2UgaXMgcHJvdmlkZWQgZm9yIGluZm9ybWF0aW9uYWwgcHVycG9zZXMgb25seS4KCk5PTi1FWENMVVNJVkUgRElTVFJJQlVUSU9OIExJQ0VOU0UKCkJ5IHNpZ25pbmcgYW5kIHN1Ym1pdHRpbmcgdGhpcyBsaWNlbnNlLCB5b3UgKHRoZSBhdXRob3Iocykgb3IgY29weXJpZ2h0Cm93bmVyKSBncmFudHMgdG8gRFNwYWNlIFVuaXZlcnNpdHkgKERTVSkgdGhlIG5vbi1leGNsdXNpdmUgcmlnaHQgdG8gcmVwcm9kdWNlLAp0cmFuc2xhdGUgKGFzIGRlZmluZWQgYmVsb3cpLCBhbmQvb3IgZGlzdHJpYnV0ZSB5b3VyIHN1Ym1pc3Npb24gKGluY2x1ZGluZwp0aGUgYWJzdHJhY3QpIHdvcmxkd2lkZSBpbiBwcmludCBhbmQgZWxlY3Ryb25pYyBmb3JtYXQgYW5kIGluIGFueSBtZWRpdW0sCmluY2x1ZGluZyBidXQgbm90IGxpbWl0ZWQgdG8gYXVkaW8gb3IgdmlkZW8uCgpZb3UgYWdyZWUgdGhhdCBEU1UgbWF5LCB3aXRob3V0IGNoYW5naW5nIHRoZSBjb250ZW50LCB0cmFuc2xhdGUgdGhlCnN1Ym1pc3Npb24gdG8gYW55IG1lZGl1bSBvciBmb3JtYXQgZm9yIHRoZSBwdXJwb3NlIG9mIHByZXNlcnZhdGlvbi4KCllvdSBhbHNvIGFncmVlIHRoYXQgRFNVIG1heSBrZWVwIG1vcmUgdGhhbiBvbmUgY29weSBvZiB0aGlzIHN1Ym1pc3Npb24gZm9yCnB1cnBvc2VzIG9mIHNlY3VyaXR5LCBiYWNrLXVwIGFuZCBwcmVzZXJ2YXRpb24uCgpZb3UgcmVwcmVzZW50IHRoYXQgdGhlIHN1Ym1pc3Npb24gaXMgeW91ciBvcmlnaW5hbCB3b3JrLCBhbmQgdGhhdCB5b3UgaGF2ZQp0aGUgcmlnaHQgdG8gZ3JhbnQgdGhlIHJpZ2h0cyBjb250YWluZWQgaW4gdGhpcyBsaWNlbnNlLiBZb3UgYWxzbyByZXByZXNlbnQKdGhhdCB5b3VyIHN1Ym1pc3Npb24gZG9lcyBub3QsIHRvIHRoZSBiZXN0IG9mIHlvdXIga25vd2xlZGdlLCBpbmZyaW5nZSB1cG9uCmFueW9uZSdzIGNvcHlyaWdodC4KCklmIHRoZSBzdWJtaXNzaW9uIGNvbnRhaW5zIG1hdGVyaWFsIGZvciB3aGljaCB5b3UgZG8gbm90IGhvbGQgY29weXJpZ2h0LAp5b3UgcmVwcmVzZW50IHRoYXQgeW91IGhhdmUgb2J0YWluZWQgdGhlIHVucmVzdHJpY3RlZCBwZXJtaXNzaW9uIG9mIHRoZQpjb3B5cmlnaHQgb3duZXIgdG8gZ3JhbnQgRFNVIHRoZSByaWdodHMgcmVxdWlyZWQgYnkgdGhpcyBsaWNlbnNlLCBhbmQgdGhhdApzdWNoIHRoaXJkLXBhcnR5IG93bmVkIG1hdGVyaWFsIGlzIGNsZWFybHkgaWRlbnRpZmllZCBhbmQgYWNrbm93bGVkZ2VkCndpdGhpbiB0aGUgdGV4dCBvciBjb250ZW50IG9mIHRoZSBzdWJtaXNzaW9uLgoKSUYgVEhFIFNVQk1JU1NJT04gSVMgQkFTRUQgVVBPTiBXT1JLIFRIQVQgSEFTIEJFRU4gU1BPTlNPUkVEIE9SIFNVUFBPUlRFRApCWSBBTiBBR0VOQ1kgT1IgT1JHQU5JWkFUSU9OIE9USEVSIFRIQU4gRFNVLCBZT1UgUkVQUkVTRU5UIFRIQVQgWU9VIEhBVkUKRlVMRklMTEVEIEFOWSBSSUdIVCBPRiBSRVZJRVcgT1IgT1RIRVIgT0JMSUdBVElPTlMgUkVRVUlSRUQgQlkgU1VDSApDT05UUkFDVCBPUiBBR1JFRU1FTlQuCgpEU1Ugd2lsbCBjbGVhcmx5IGlkZW50aWZ5IHlvdXIgbmFtZShzKSBhcyB0aGUgYXV0aG9yKHMpIG9yIG93bmVyKHMpIG9mIHRoZQpzdWJtaXNzaW9uLCBhbmQgd2lsbCBub3QgbWFrZSBhbnkgYWx0ZXJhdGlvbiwgb3RoZXIgdGhhbiBhcyBhbGxvd2VkIGJ5IHRoaXMKbGljZW5zZSwgdG8geW91ciBzdWJtaXNzaW9uLgo= |