A model for forecasting electricity prices in Colombia

Jorge Barrientos Marin (), Edwin Rodas, Esteban Velilla, Mauricio Lopera and Fernando Villada

Lecturas de Economía, 2012, issue 77, 91-127

Abstract: This paper investigates the factors that determine electric power prices in the Colombian market. In addition, we carry out a long-run forecasting analysis to pool-traded electric power prices by using Vector Error Correction estimation and neuronal networks. Given the optimistic atmosphere that surrounds the Colombian economy for the coming years, our conclusion is that long-run electric power prices will exhibit an upward trend

Keywords: price; demand; supply; impulse response function; vectors; neuronal networks (search for similar items in EconPapers)
JEL-codes: C22 C26 C45 D43 L94 (search for similar items in EconPapers)
Date: 2012
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