Acuerdos de comercio internacional spot de electricidad

Mario Ibarburu
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Mario Ibarburu: Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República

No 1912, Documentos de Trabajo (working papers) from Department of Economics - dECON

Abstract: International power trade requires the existence of regulation and a formal agreement between the countries. In South America power trade is mainly a bilateral spot trade decided by system operators, at prices resulting from rules determined in long term agreements between countries. The institutional framework is quite different from other regions’, where the goal is the existence of a single integrated energy market. Very soon Uruguay will be strongly interconnected with its two neighbors, Argentina and Brazil, which are already interconnected. This fact increases the interest of analyzing multilateral agreements to determine prices in international spot trade. Using the fact that the graph of optimal flows through the interconnections has no cycles, different sets of bilateral economically meaningful transactions are defined. In the definition of these transactions there are two degrees of freedom: the treatment of the problem of transits and intermediation, and the criteria to split the benefits between countries. This analysis can be extended to the more general problem of cooperative agreements to trade, when transportation grids are necessary.

Keywords: Regulation; International power trade; trade using grids (search for similar items in EconPapers)
JEL-codes: L51 Q48 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2012-12
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Persistent link: https://EconPapers.repec.org/RePEc:ude:wpaper:1912

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