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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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Author Info
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.

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Paper provided by ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics] in its series Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] with number 088.

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Date of creation: 2004
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Handle: RePEc:anp:en2004:088

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Find related papers by JEL classification:
D44 - Microeconomics - - Market Structure and Pricing - - - 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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This page was last updated on 2009-12-13.

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