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Price Wars and Collusion in the Spanish Electricity Market

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Cited by:

  1. Graf, Christoph & Wozabal, David, 2013. "Measuring competitiveness of the EPEX spot market for electricity," Energy Policy, Elsevier, vol. 62(C), pages 948-958.
  2. Haldrup, Niels & Nielsen, Frank S. & Nielsen, Morten Ørregaard, 2010. "A vector autoregressive model for electricity prices subject to long memory and regime switching," Energy Economics, Elsevier, vol. 32(5), pages 1044-1058, September.
  3. Richard Benjamin, 2016. "Tacit Collusion in Electricity Markets with Uncertain Demand," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 48(1), pages 69-93, February.
  4. Paolo Falbo & Cristian Pelizzari & Luca Taschini, 2019. "Renewables, Allowances Markets, and Capacity Expansion in Energy-Only Markets," The Energy Journal, , vol. 40(6), pages 41-78, November.
  5. James Bushnell, 2007. "Oligopoly equilibria in electricity contract markets," Journal of Regulatory Economics, Springer, vol. 32(3), pages 225-245, December.
  6. Ali Hortaçsu & Steven L. Puller, 2008. "Understanding strategic bidding in multi‐unit auctions: a case study of the Texas electricity spot market," RAND Journal of Economics, RAND Corporation, vol. 39(1), pages 86-114, March.
  7. Haldrup, Niels & Nielsen, Morten Orregaard, 2006. "A regime switching long memory model for electricity prices," Journal of Econometrics, Elsevier, vol. 135(1-2), pages 349-376.
  8. Agustín García & María Teresa & García-à lvarez & Blanca Moreno, 2017. "Iberian Electricity Sector: A transition towards a more liberalized and sustainable market," GDAE Working Papers 17-01, GDAE, Tufts University.
  9. Bosco, Bruno & Parisio, Lucia & Pelagatti, Matteo & Baldi, Fabio, 2007. "A Robust Multivariate Long Run Analysis of European Electricity Prices," International Energy Markets Working Papers 7438, Fondazione Eni Enrico Mattei (FEEM).
  10. Ciro Eduardo Bazán Navarro, 2004. "Análisis de la competencia en un mercado mayorista de electricidad: el caso de España," Documentos de trabajo conjunto ULL-ULPGC 2004-04, Facultad de Ciencias Económicas de la ULPGC.
  11. Felix Höffler & Sebastian Kranz, 2015. "Using Forward Contracts to Reduce Regulatory Capture," Journal of Industrial Economics, Wiley Blackwell, vol. 63(4), pages 598-624, December.
  12. Heikki Peura & Derek W. Bunn, 2015. "Dynamic Pricing of Peak Production," Operations Research, INFORMS, vol. 63(6), pages 1262-1279, December.
  13. David P. Brown & Andrew Eckert, 2022. "Pricing Patterns in Wholesale Electricity Markets: Unilateral Market Power or Coordinated Behavior?," Journal of Industrial Economics, Wiley Blackwell, vol. 70(1), pages 168-216, March.
  14. Vítor Marques & Adelino Fortunato & Isabel Soares, 2011. "Application of a structural model to a wholesale electricity market: The Spanish market from January 1999 to June 2007," GEMF Working Papers 2011-02, GEMF, Faculty of Economics, University of Coimbra.
  15. Aichele, Markus, 2013. "Abuse of forward contracts to semi-collude in volatile markets," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79755, Verein für Socialpolitik / German Economic Association.
  16. James B. Bushnell & Erin T. Mansur & Celeste Saravia, 2008. "Vertical Arrangements, Market Structure, and Competition: An Analysis of Restructured US Electricity Markets," American Economic Review, American Economic Association, vol. 98(1), pages 237-266, March.
  17. Isabel Soares & Andres Faina & Jose Lopez & Laura Varela-Candamio, 2012. "What’s Happening to the European Electricity Market?," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 145-156.
  18. Luis Orea & Jevgenijs Steinbuks, 2018. "Estimating Market Power In Homogenous Product Markets Using A Composed Error Model: Application To The California Electricity Market," Economic Inquiry, Western Economic Association International, vol. 56(2), pages 1296-1321, April.
  19. Matthew S. Lewis, 2015. "Odd Prices at Retail Gasoline Stations: Focal Point Pricing and Tacit Collusion," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 24(3), pages 664-685, September.
  20. Victor F. Moutinho & António C. Moreira & João Paulo C. Bento, 2018. "Strategic decisions on bilateral bidding behavior: evidence from a wholesale electricity market," Empirical Economics, Springer, vol. 54(3), pages 1353-1387, May.
  21. Aitor Ciarreta & María Espinosa, 2010. "Market power in the Spanish electricity auction," Journal of Regulatory Economics, Springer, vol. 37(1), pages 42-69, February.
  22. Liski, Matti & Montero, Juan-Pablo, 2014. "Forward trading in exhaustible-resource oligopoly," Resource and Energy Economics, Elsevier, vol. 37(C), pages 122-146.
  23. Leonardo Madio & Aldo Pignataro, 2022. "Collusion sustainability with a capacity constrained firm," "Marco Fanno" Working Papers 0295, Dipartimento di Scienze Economiche "Marco Fanno".
  24. van Eijkel, Remco & Kuper, Gerard H. & Moraga-González, José L., 2016. "Do firms sell forward for strategic reasons? An application to the wholesale market for natural gas," International Journal of Industrial Organization, Elsevier, vol. 49(C), pages 1-35.
  25. Bo Sun & Siyuan Cheng & Jingdong Xie & Xin Sun, 2022. "Identification of Generators’ Economic Withholding Behavior Based on a SCAD-Logit Model in Electricity Spot Market," Energies, MDPI, vol. 15(11), pages 1-23, June.
  26. Dejan Trifunović & Bojan Ristić, 2013. "Multi-Unit Auctions In The Procurement Of Electricity," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 58(197), pages 47-78, April – J.
  27. 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.
  28. Baldursson , Fridrik M. & von der Fehr, Nils-Henrik, 2007. "Vertical Integration and Long-Term Contracts in Risky Markets," Memorandum 01/2007, Oslo University, Department of Economics.
  29. Lamperti, F. & Dosi, G. & Napoletano, M. & Roventini, A. & Sapio, A., 2018. "Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model," Ecological Economics, Elsevier, vol. 150(C), pages 315-339.
  30. Ona Duarte Venslauskas & John J. García Rendón, 2015. "Estimación del precio marginal del sistema eléctrico colombiano: una mirada desde la organización industrial," Revista Ecos de Economía, Universidad EAFIT, vol. 19(41), pages 1-23, December.
  31. Mou, Dunguo, 2014. "Understanding China’s electricity market reform from the perspective of the coal-fired power disparity," Energy Policy, Elsevier, vol. 74(C), pages 224-234.
  32. Haldrup Niels & Nielsen Morten Ø., 2006. "Directional Congestion and Regime Switching in a Long Memory Model for Electricity Prices," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 10(3), pages 1-24, September.
  33. Erik Lundin, 2021. "Market Power and Joint Ownership: Evidence from Nuclear Plants in Sweden," Journal of Industrial Economics, Wiley Blackwell, vol. 69(3), pages 485-536, September.
  34. John J. García, & O. Lucia Quintero M, & Manuela Bastidas Olivares, 2013. "Inteligencia de Mercados: Comportamientos estratégicos sobre precios de oferta en el mercado spot eléctrico Colombiano," Documentos de Trabajo de Valor Público 10672, Universidad EAFIT.
  35. Albert Banal-Estañol & Augusto Rupérez Micola, 2009. "Composition of Electricity Generation Portfolios, Pivotal Dynamics, and Market Prices," Management Science, INFORMS, vol. 55(11), pages 1813-1831, November.
  36. Ciarreta Antuñano, Aitor & Espinosa Alejos, María Paz, 2010. "The Impact of Regulation on Pricing Behavior in the Spanish Electricity Market," DFAEII Working Papers 1988-088X, University of the Basque Country - Department of Foundations of Economic Analysis II.
  37. Fabra, Natalia, 2021. "The energy transition: An industrial economics perspective," International Journal of Industrial Organization, Elsevier, vol. 79(C).
  38. Leticia Blázquez Gómez & Emili Grifell-Tatjé, 2008. "Multi-Output compensation system in electricity distribution: the case of Spain," Hacienda Pública Española / Review of Public Economics, IEF, vol. 185(2), pages 115-148, July.
  39. Bruno Bosco & Lucia Parisio & Matteo Pelagatti & Fabio Baldi, 2006. "Deregulated Wholesale Electricity Prices in Europe," Working Papers 20061001, Università degli Studi di Milano-Bicocca, Dipartimento di Statistica.
  40. Erin T. Mansur, 2008. "Measuring Welfare in Restructured Electricity Markets," The Review of Economics and Statistics, MIT Press, vol. 90(2), pages 369-386, May.
  41. Vitor Marques & Isabel Soares & Adelino Fortunato, 2008. "Measuring market power in the Iberian electricity wholesale market through the residual demand curve," CEF.UP Working Papers 0801, Universidade do Porto, Faculdade de Economia do Porto.
  42. Matti Liski & Iivo Vehviläinen, 2016. "Gone with the Wind? An Empirical Analysis of the Renewable Energy Rent Transfer," CESifo Working Paper Series 6250, CESifo.
  43. Bosco, Bruno & Parisio, Lucia & Pelagatti, Matteo, 2012. "Strategic bidding in vertically integrated power markets with an application to the Italian electricity auctions," Energy Economics, Elsevier, vol. 34(6), pages 2046-2057.
  44. Pittman, Russell, 2007. "Restructuring the Russian electricity sector: Re-creating California?," Energy Policy, Elsevier, vol. 35(3), pages 1872-1883, March.
  45. Dressler, Luisa, 2016. "Support schemes for renewable electricity in the European Union: Producer strategies and competition," Energy Economics, Elsevier, vol. 60(C), pages 186-196.
  46. Vítor Marques & Isabel Soares & Adelino Fortunato, 2012. "Application of a Structural Model to the Spanish Electricity Wholesale Market," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 65-108.
  47. Crawford, Gregory S. & Crespo, Joseph & Tauchen, Helen, 2007. "Bidding asymmetries in multi-unit auctions: Implications of bid function equilibria in the British spot market for electricity," International Journal of Industrial Organization, Elsevier, vol. 25(6), pages 1233-1268, December.
  48. Erlwein, Christina & Benth, Fred Espen & Mamon, Rogemar, 2010. "HMM filtering and parameter estimation of an electricity spot price model," Energy Economics, Elsevier, vol. 32(5), pages 1034-1043, September.
  49. Furió, Dolores & Meneu, Vicente, 2010. "Expectations and forward risk premium in the Spanish deregulated power market," Energy Policy, Elsevier, vol. 38(2), pages 784-793, February.
  50. Furió, Dolores & Lucia, Julio J., 2009. "Congestion management rules and trading strategies in the Spanish electricity market," Energy Economics, Elsevier, vol. 31(1), pages 48-60, January.
  51. Sapio, Alessandro, 2015. "The effects of renewables in space and time: A regime switching model of the Italian power price," Energy Policy, Elsevier, vol. 85(C), pages 487-499.
  52. Vítor Marques & Adelino Fortunato & Isabel Soares, 2012. "Can Structural Models be Useful to Understand the Electricity Wholesale Markets? An Application to Spain," Chapters, in: Joseph E. Harrington Jr & Yannis Katsoulacos (ed.), Recent Advances in the Analysis of Competition Policy and Regulation, chapter 15, Edward Elgar Publishing.
  53. Christian Schultz, 2005. "Virtual Capacity and Competition," CESifo Working Paper Series 1487, CESifo.
  54. Ribó-Pérez, David & Van der Weijde, Adriaan H. & Álvarez-Bel, Carlos, 2019. "Effects of self-generation in imperfectly competitive electricity markets: The case of Spain," Energy Policy, Elsevier, vol. 133(C).
  55. John J. García & Jesús López-Rodríguez & Jhonny Moncada-Mesa, 2017. "Spatial effects in the bid price setting strategies of the wholesale electricity markets: The case of Colombia," Documentos de Trabajo de Valor Público 15660, Universidad EAFIT.
  56. Anderson, E.J. & Cau, T.D.H., 2011. "Implicit collusion and individual market power in electricity markets," European Journal of Operational Research, Elsevier, vol. 211(2), pages 403-414, June.
  57. Nazemi, Ali & Mashayekhi, Mehdi, 2015. "Competitiveness assessment of Iran's restructured electricity market," Energy Economics, Elsevier, vol. 49(C), pages 308-316.
  58. Ihsan Celen & Ismail Saglam, 2022. "Collusion in supply functions under technology licensing," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(5), pages 1362-1378, July.
  59. Serra, Pablo, 2013. "Contract market power and its impact on the efficiency of the electricity sector," Energy Policy, Elsevier, vol. 61(C), pages 653-662.
  60. Esmaeili Aliabadi, Danial & Chan, Katrina, 2022. "The emerging threat of artificial intelligence on competition in liberalized electricity markets: A deep Q-network approach," Applied Energy, Elsevier, vol. 325(C).
  61. Brown, David P. & Eckert, Andrew & Silveira, Douglas, 2023. "Screening for Collusion in Wholesale Electricity Markets: A Review of the Literature," Working Papers 2023-7, University of Alberta, Department of Economics.
  62. Vítor Marques & Isabel Soares & Adelino Fortunato, 2008. "Uniform Price Market and Behaviour Pattern: What Does the Iberian Electricity Market Point Out?," GEMF Working Papers 2008-08, GEMF, Faculty of Economics, University of Coimbra.
  63. Lundin, Erik & Tangerås, Thomas P., 2020. "Cournot competition in wholesale electricity markets: The Nordic power exchange, Nord Pool," International Journal of Industrial Organization, Elsevier, vol. 68(C).
  64. Natalia Fabra & Mar Reguant, 2014. "Pass-Through of Emissions Costs in Electricity Markets," American Economic Review, American Economic Association, vol. 104(9), pages 2872-2899, September.
  65. de Frutos, María-Ángeles & Fabra, Natalia, 2012. "How to allocate forward contracts: The case of electricity markets," European Economic Review, Elsevier, vol. 56(3), pages 451-469.
  66. David P. Brown & Andrew Eckert & James Lin, 2018. "Information and transparency in wholesale electricity markets: evidence from Alberta," Journal of Regulatory Economics, Springer, vol. 54(3), pages 292-330, December.
  67. Richard Benjamin, 2016. "Tacit Collusion in Electricity Markets with Uncertain Demand," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 48(1), pages 69-93, February.
  68. Fabra, Natalia & de Frutos, Maria-Angeles, 2008. "On the Impact of Forward Contract Obligations in Multi-Unit Auctions," CEPR Discussion Papers 6756, C.E.P.R. Discussion Papers.
  69. Alvaro Escribano & J. Ignacio Peña & Pablo Villaplana, 2011. "Modelling Electricity Prices: International Evidence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 73(5), pages 622-650, October.
  70. Lunde, Asger & Sandberg, Rickard & Söderberg, Magnus, 2019. "Calculating the damage of a cartel subject to transition periods: The international uranium cartel in the 1970s," Energy Economics, Elsevier, vol. 84(C).
  71. Falbo, Paolo & Fattore, Marco & Stefani, Silvana, 2010. "A new index for electricity spot markets," Energy Policy, Elsevier, vol. 38(6), pages 2739-2750, June.
  72. Marc Escrihuela-Villar & Carlos Gutiérrez-Hita, 2019. "On competition and welfare enhancing policies in a mixed oligopoly," Journal of Economics, Springer, vol. 126(3), pages 259-274, April.
  73. Di Cosmo, Valeria & Lynch, Muireann Á., 2016. "Competition and the single electricity market: Which lessons for Ireland?," Utilities Policy, Elsevier, vol. 41(C), pages 40-47.
  74. Peña, Juan Ignacio, 2024. "A note on hydropower as a marginal price setter for Spain's electricity market in 2021–2022," Utilities Policy, Elsevier, vol. 87(C).
  75. Ling Huang & Yishu Zhou, 2019. "Carbon Prices and Fuel Switching: A Quasi-experiment in Electricity Markets," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(1), pages 53-98, September.
  76. Carlo Fezzi & Luca Mosetti, 2018. "Size matters: Estimation sample length and electricity price forecasting accuracy," DEM Working Papers 2018/10, Department of Economics and Management.
  77. Victor Moutinho & Ant nio Carrizo Moreira & Jorge H. Mota, 2015. "Measuring the Simultaneous Quantity Game in OMEL Spot Electricity Market," International Journal of Energy Economics and Policy, Econjournals, vol. 5(1), pages 305-320.
  78. Komain Jiranyakul, 2015. "Oil Price Volatility and Real Effective Exchange Rate: The Case of Thailand," International Journal of Energy Economics and Policy, Econjournals, vol. 5(2), pages 574-579.
  79. Garcia-Gonzalez, Javier & Parrilla, Ernesto & Mateo, Alicia, 2007. "Risk-averse profit-based optimal scheduling of a hydro-chain in the day-ahead electricity market," European Journal of Operational Research, Elsevier, vol. 181(3), pages 1354-1369, September.
  80. Matteo Pelagatti & Bruno Bosco & Lucia Parisio & Fabio Baldi, 2007. "A Robust Multivariate Long Run Analysis of European Electricity Prices," Working Papers 2007.103, Fondazione Eni Enrico Mattei.
  81. Zhou, Yishu & Huang, Ling, 2021. "How regional policies reduce carbon emissions in electricity markets: Fuel switching or emission leakage," Energy Economics, Elsevier, vol. 97(C).
  82. Leonardo Madio & Aldo Pignataro, 2022. "Collusion Sustainability with a Capacity Constrained Firm," CESifo Working Paper Series 10170, CESifo.
  83. Crampes , C. & Fabra , N., 2005. "The Spanish Electricity Industry: Plus ça change …," Cambridge Working Papers in Economics 0502, Faculty of Economics, University of Cambridge.
  84. Mô Dolores Furió Ortega & Julio Lucia López, "undated". "Congestion management rules and trading strategies," Studies on the Spanish Economy 222, FEDEA.
  85. Caner zdurak & Veysel Ulusoy, 2017. "Impact of Vertical Integration on Electricity Prices in TurkeyImpact of Vertical Integration on Electricity Prices in Turkey," International Journal of Energy Economics and Policy, Econjournals, vol. 7(3), pages 256-267.
  86. John Jairo García Rendón, 2019. "Transición energética en Espana e integración de fuentes de energías no convencionales," Documentos de Trabajo de Valor Público 17788, Universidad EAFIT.
  87. Bernasconi, Mario, 2024. "Essays on labour economics and industrial organization," Other publications TiSEM c26b3dfe-a2d3-4c31-b0fc-f, Tilburg University, School of Economics and Management.
  88. Hernandez Martinez, Fernando, 2006. "La producción de energía eléctrica en España: Análisis económico de la actividad tras la liberalización del Sector Eléctrico [Electricity output in Spain: Economic analysis of the activity after li," MPRA Paper 18050, University Library of Munich, Germany.
  89. repec:ers:journl:v:xv:y:2012:i:sie:p:65-108 is not listed on IDEAS
  90. Moutinho, Victor & Moreira, António C. & Mota, Jorge, 2014. "Do regulatory mechanisms promote competition and mitigate market power? Evidence from Spanish electricity market," Energy Policy, Elsevier, vol. 68(C), pages 403-412.
  91. E. J. Anderson & T. D. H. Cau, 2009. "Modeling Implicit Collusion Using Coevolution," Operations Research, INFORMS, vol. 57(2), pages 439-455, April.
  92. Román-Collado, Rocío & Cansino, José M. & Colinet, María J. & Dugo, Víctor, 2020. "A tool proposal to detect operating anomalies in the Spanish wholesale electricity market," Energy Policy, Elsevier, vol. 142(C).
  93. repec:ers:journl:v:xv:y:2012:i:sie:p:145-156 is not listed on IDEAS
  94. Bruno Bosco & Lucia Parisio & Matteo Pelagatti, 2006. "Deregulated Wholesale Electricity Prices in Italy," Working Papers 20060301, Università degli Studi di Milano-Bicocca, Dipartimento di Statistica, revised Apr 2006.
  95. Palacio, Sebastián M., 2020. "Predicting collusive patterns in a liberalized electricity market with mandatory auctions of forward contracts," Energy Policy, Elsevier, vol. 139(C).
  96. Ciarreta, Aitor & Espinosa, María Paz, 2012. "The impact of regulation on pricing behavior in the Spanish electricity market (2002–2005)," Energy Economics, Elsevier, vol. 34(6), pages 2039-2045.
  97. Bruno Bosco & Lucia Parisio & Matteo Pelagatti, 2007. "Deregulated Wholesale Electricity Prices in Italy: An Empirical Analysis," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 13(4), pages 415-432, November.
  98. repec:kap:iaecre:v:13:y:2007:i:4:p:415-432 is not listed on IDEAS
  99. Brown, David P. & Eckert, Andrew & Silveira, Douglas, 2023. "Screening for collusion in wholesale electricity markets: A literature review," Utilities Policy, Elsevier, vol. 85(C).
  100. Sapio, Alessandro & Spagnolo, Nicola, 2016. "Price regimes in an energy island: Tacit collusion vs. cost and network explanations," Energy Economics, Elsevier, vol. 55(C), pages 157-172.
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