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Mixed Oligopoly and Market Power Mitigation: Evidence from the Colombian Wholesale Electricity Market

Carlos Suarez ()
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Carlos Suarez: Department of Econometrics, Statistics and Applied Economics, Research Group on Governments and Markets, University of Barcelona, Avinguda Diagonal 690, 08034 Barcelona, Tower 6 Floor 3. Engineering Department, Research Group on Energy, Environment and Development, Jorge Tadeo Lozano University.

No 202101, IREA Working Papers from University of Barcelona, Research Institute of Applied Economics

Abstract: Using information on price bids in wholesale electricity pools and empirical techniques described in the literature on electricity markets, this study identifies the market power mitigation effect of public firms in the Colombian market. The results suggest that while private firms exercise less market power than is predicted by a profit-maximization model, there are marked differences between private and public firms in their exercise of unilateral market power. These findings support the hypothesis of the market power mitigation effect of public firms.

Keywords: Electricity Markets; Market Power; Privatization; Mixed Oligopoly; Regulatory Intervention. JEL classification: L13; L94; C10. (search for similar items in EconPapers)
Pages: 72 pages
Date: 2021-01, Revised 2021-01
New Economics Papers: this item is included in nep-com, nep-ene, nep-ind, nep-lam and nep-reg
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Handle: RePEc:ira:wpaper:202101