Precios y desempeño regulatorio en el pool eléctrico español
This study examines the relation between the gap of the system marginal price and other common variables in the market such as industrial organization and regulatory changes in the Spanish electricity pool. We estimate a long panel model where the time is larger than the number of firms. Our finding...
- Autores:
-
García, John J.
Moncada, Jhonny
- Tipo de recurso:
- Fecha de publicación:
- 2015
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- spa
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/5503
- Acceso en línea:
- http://hdl.handle.net/10784/5503
- Palabra clave:
- Regulation
Prices
Panel cointegration
Spanish electricity pool.
Regulación
Precios
Cointegración en panel
Pool eléctrico español
- Rights
- License
- Acceso abierto
| Summary: | This study examines the relation between the gap of the system marginal price and other common variables in the market such as industrial organization and regulatory changes in the Spanish electricity pool. We estimate a long panel model where the time is larger than the number of firms. Our findings show that high market concentration and the possibility of being a pivot agent generate adverse effects on price determination. In addition, regulatory changes did not generate the expected effects, creating distortion and incorrect incentives in the market. |
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