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Private management and strategic bidding behavior in electricity markets: Evidence from Colombia

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 202102, IREA Working Papers from University of Barcelona, Research Institute of Applied Economics

Abstract: In this paper I undertake a policy evaluation of the impact of the switch from public to private management of electricity generation units on their price bidding strategies. I draw on information about the bidding strategies of units in the Colombian electricity market to perform a double difference analysis. The evidence observed is coherent with theoretical behavioral predictions for profit maximizing agents facing short positions in forward contracts.

Keywords: Electricity Markets; Market Power; Privatization; Mixed Oligopoly; Double Differences. JEL classification: L13; L94; C10. (search for similar items in EconPapers)
Pages: 59 pages
Date: 2021-01, Revised 2021-01
New Economics Papers: this item is included in nep-com and nep-ene
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