Precios Y Desempeño Regulatorio En El Pool Eléctrico Español (Prices and Regulatory Performance in the Spanish Electricity Pool)

Posted: 18 Jul 2015

See all articles by John Garcia

John Garcia

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF)

Jhonny Moncada

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF)

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Date Written: July 15, 2015

Abstract

English Abstract: This study examines the relation between the gap of the system marginal price and other common variables in the market such as industrial organization and regulatory changes in the Spanish electricity pool. We estimate a long panel model where the time is larger than the number of firms. Our findings show that high market concentration and the possibility of being a pivot agent generate adverse effects on price determination. In addition, regulatory changes did not generate the expected effects, creating distortion and incorrect incentives in the market.

Keywords: Regulation, prices, panel cointegration, Spanish electricity pool.

JEL Classification: L51, L13, C23

Suggested Citation

Garcia, John and Moncada, Jhonny, Precios Y Desempeño Regulatorio En El Pool Eléctrico Español (Prices and Regulatory Performance in the Spanish Electricity Pool) (July 15, 2015). Available at SSRN: https://ssrn.com/abstract=2632081

John Garcia (Contact Author)

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF) ( email )

Carrera 49 No. 7 South - 50
Bogotá
Colombia

Jhonny Moncada

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF) ( email )

Carrera 49 No. 7 South - 50
Bogotá
Colombia

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