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What Does the Evidence Really Say about the Residual Supply Index?

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  • Arnedillo, Oscar

Abstract

A review of an econometric analysis relating the hourly Residual Supply Index to price-cost margins in the major EU electricity generation markets suggests that its predictive abilities may have been the result of modeling errors and that the RSI is, in fact, an irrelevant explanatory factor for markups. This detailed critique is followed by a response from the original author and further debate.

Suggested Citation

  • Arnedillo, Oscar, 0. "What Does the Evidence Really Say about the Residual Supply Index?," The Electricity Journal, Elsevier, vol. 24(1), pages 57-64, January.
    • Handle: RePEc:eee:jelect:v:24:y::i:1:p:57-64
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    Cited by:

    1. Machiel Mulder, 2015. "Competition in the Dutch Electricity Market: An Empirical Analysis over 2006-2011," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2).
    2. Mulder, Machiel & Schoonbeek, Lambert, 2013. "Decomposing changes in competition in the Dutch electricity market through the residual supply index," Energy Economics, Elsevier, vol. 39(C), pages 100-107.
    3. Bataille, Marc & Steinmetz, Alexander & Thorwarth, Susanne, 2014. "Screening instruments for monitoring market power in wholesale electricity markets: Lessons from applications in Germany," DICE Discussion Papers 150, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    4. Genc, Talat S., 2016. "Measuring demand responses to wholesale electricity prices using market power indices," Energy Economics, Elsevier, vol. 56(C), pages 247-260.
    5. repec:dgr:rugsom:13003-eef is not listed on IDEAS
    6. Arnedillo Blanco, Oscar, 2011. "¿Es competitivo el mercado eléctrico español? Indicadores de abuso de poder de mercado y aplicación al caso de España/Is the Spanish Electricity Wholesale Market Competitive? Indicators of Abuse of Do," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 29, pages 627-654, Agosto.
    7. Jesús Alonso Botero & John Jairo García & Luis Guillermo Vélez, 2013. "Mecanismos utilizados para monitorear el poder de mercado en mercados eléctricos: reflexiones para Colombia," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, December.

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