Precios y desempeno regulatorio en el pool eléctrico espanol

John García () and Jhonny Moncada Mesa ()

No 13314, Documentos de Trabajo de Valor Público from Universidad EAFIT

Abstract: 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.

Keywords: Regulación; precios; cointegración en panel; pool eléctrico español (search for similar items in EconPapers)
JEL-codes: C23 L13 L51 (search for similar items in EconPapers)
Pages: 27
Date: 2015-07-15
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Persistent link: https://EconPapers.repec.org/RePEc:col:000122:013314

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