A Supply Function Competition Model for the Spanish Wholesale Electricity Market

Maria Paz Espinosa () and Aitor Ciarreta Antuñano ()

No 2005-18, DFAEII Working Papers from University of the Basque Country - Department of Foundations of Economic Analysis II

Abstract: We model the Spanish wholesale market as a multiplant linear supply function competition model. According to the theory, the larger generators should have supply curves for each plant which are to the left of the supply curves of plants owned by smaller generators. We test this prediction for fuel plants using data from the Spanish Market Operator (OMEL) from May 2001 to December 2003. Our results indicate that the prediction of the model holds.

Keywords: supply function competition; electricity market (search for similar items in EconPapers)
JEL-codes: L11 L13 L51 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-ene and nep-mic
Date: 2005-10
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Dpto. de Fundamentos del Análisis Económico II, = Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain

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