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Impacto de la regulación en la eficiencia asignativa del mercado spot eléctrico colombiano

Author

Listed:
  • John J. García
  • Santiago Arango Tamayo
  • Andrés F. Ortiz Rico

Abstract

This paper uses an ARCH regression model to analyze the effect of several regulatory measures and fundamental factors (the relationship between commercial demand and real availability, El Nino, and water supplies) on the spot price in the Colombian wholesale power market. The results indicate that the regulations established by the Electricity and Gas Regulatory Commission have had a substantial and statistically-significant effect on spot prices. In addition, El Nino and hydro supplies have a positive and negative respectively effect on the spot price, due to the large share of hydropower in this market.

Suggested Citation

  • John J. García & Santiago Arango Tamayo & Andrés F. Ortiz Rico, 2015. "Impacto de la regulación en la eficiencia asignativa del mercado spot eléctrico colombiano," Documentos de Trabajo de Valor Público 13313, Universidad EAFIT.
    • Handle: RePEc:col:000122:013313
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    File URL: http://hdl.handle.net/10784/5504
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    References listed on IDEAS

    as
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    3. Juan Pablo Botero Duque & John J. García & Hermilson Velásquez, 2016. "Efectos del cargo por confiabilidad sobre el precio spot de la energía eléctrica en Colombia," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 35(68), pages 491-519, January.
    4. Larsen, Erik R. & Dyner, Isaac & Bedoya V., Leonardo & Franco, Carlos Jaime, 2004. "Lessons from deregulation in Colombia: successes, failures and the way ahead," Energy Policy, Elsevier, vol. 32(15), pages 1767-1780, October.
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    10. John J. García & Santiago Bohórquez & Gustavo López & Fredy Marín, 2013. "Poder de mercado en mercados spot de generación eléctrica: metodología para su análisis," Documentos de Trabajo de Valor Público 10671, Universidad EAFIT.
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    More about this item

    Keywords

    Regulación; Mercado de Energía Mayorista; precio spot; ARCH; Colombia.;
    All these keywords.

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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