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MARKET POWER IN THE SPANISH WHOLESALE ELECTRICITY MARKET

Aitor Ciarreta Antuñano () and Maria Paz Espinosa ()

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: In the context of the recent electricity market reforms in Europe and the US, we evaluate the performance of the Spanish pool. Our method is not based on price-cost estimates but rather on the different behavior of operators with higher market power as compared to the behavior of more competitive operators. Our results indicate that the two larger operators in the market are able to increase prices by a significant amount as compared to the situation in which each plant is run independently.

Keywords: electricity market; competition; auction; market power (search for similar items in EconPapers)
Pages: 26 pages
Date: 2003-06
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Published by Ivie

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http://www.ivie.es/downloads/docs/wpasad/wpasad-2003-22.pdf Fisrt version / Primera version, 2003 (application/pdf)

Related works:
Journal Article: Market power in the Spanish electricity auction (2010) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:2003-22

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