Provision of information and reliability insurances in the electricity generation spot market in Colombia

David Tobón Orozco

No 20, Grupo Microeconomía Aplicada from Universidad de Antioquia, Departamento de Economía

Abstract: This paper aims to introduce some market mechanisms that can improve reliability in the market for electricity generation in Colombia, these are: 1) to provide additional information to agents in a market which by nature is random and 2) reliability insurances, recognizing that the demands are highly inflexible. We also develop an application to show how those mechanisms operate in practice and identify the constraints that must be corrected so that they can operate in this country.

Keywords: price forecasting; insurances; reliability; electricity spot market; failures of capacity; energy rationing (search for similar items in EconPapers)
JEL-codes: D4 L5 L94 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2001
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