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Estratégia De Geração Ao Mínimo Custo E Assimetria De Informações: O Caso Da Operação Do Mercado De Energia Elétrica Do Brasil

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  • Edvaldo Alves de Santana

Abstract

This paper aims to analyse the information asymmetry as a source of inefficiencies to the Brazilian Power Industry. This article focuses on the currently adopted prices formation model based on operation costs minimization without price bidding. We show that the use of adverse selection, by means of a defensive conduct in the electricity production policy (i.e., no exposure in the spot market, but with with some energy waste), sensibly affects the power industry's overall efficiency. Finally we relate these inefficiencies to artificially low spot prices that creat entry deterrence barriers in the electricity generation segment.

Suggested Citation

  • Edvaldo Alves de Santana, 2004. "Estratégia De Geração Ao Mínimo Custo E Assimetria De Informações: O Caso Da Operação Do Mercado De Energia Elétrica Do Brasil," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32nd Brazilian Economics Meeting] 088, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    • Handle: RePEc:anp:en2004:088
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    File URL: http://www.anpec.org.br/encontro2004/artigos/A04A088.pdf
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    More about this item

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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