2004, 2003-2004, English, Article, Working paper edition: Diagnosing and Mitigating Market Power in Chile's Electricity Industry Arellano, M. Soledad

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Physical Description
  • 1032227 bytes, application/​pdf
  • Working Paper
Published
  • 2004-06-16T16:05:29Z
  • 2003-05
Language
  • English

Edition details

Title
  • Diagnosing and Mitigating Market Power in Chile's Electricity Industry
Author
  • Arellano, M. Soledad
Published
  • 2004-06-16T16:05:29Z
  • 2003-05
Physical Description
  • 1032227 bytes, application/​pdf
  • Working Paper
Subjects
Notes
  • This paper examines generators' incentives to exercise market power and the strategies they would follow if all electricity supplies were traded in an hourly-unregulated spot market. The industry is modelled as a Cournot duopoly with a competitive fringe; particular care is given to the hydro scheduling decision. Quantitative simulations of generators� strategic behaviour indicate that the largest (Endesa) would have the incentive and power to act unilaterally. It would schedule its hydro resources to take advantage of differences in price electricity: too little supply in high demand periods and too much in low demand periods. Two market power mitigation measures are analysed: requiring Endesa to divest some of its generating capacity, and fixed price forward contracts for dominant generators. Conditions for the development of a voluntary contract market are analysed, as it is not practical to rely
Language
  • English
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