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El poder de mercado bajo el nuevo diseno del Pool eléctrico Espanol

Author

Listed:
  • John J. García
  • Albert Banal-Estanol
  • Francesc Trillas

Abstract

During 2006 and 2007, by means of the Royal Decree Law 3/2006, the Royal Decree 1634/2006 and the Order ITC/400/2007, several changes were introduced in the running of the wholesale electricity market in Spain. One of the objectives of these measures was to diminish the market power in the industry. This chapter intends to measure this market power by the difference between observed wholesale market prices and estimates of competitive benchmark price. This methodology has been used previously in the United Kingdom and California (Sweeting (2007) and Boresntein et al. (2002)), but has not been used so far in the electricity generation industry in Spain. The market power is reduced in the second quarter of 2006, but it increased again in the third quarter of 2007 and reached levels similar to the ones at the beginning of 2004 (0.43)

Suggested Citation

  • John J. García & Albert Banal-Estanol & Francesc Trillas, 2009. "El poder de mercado bajo el nuevo diseno del Pool eléctrico Espanol," Documentos de Trabajo de Valor Público 10618, Universidad EAFIT.
    • Handle: RePEc:col:000122:010618
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    File URL: http://repository.eafit.edu.co/bitstream/10784/566/1/2009-4%20Jhon%20Jairo%20Garcia.pdf
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    Cited by:

    1. 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.

    More about this item

    Keywords

    observed wholesale market prices; market power; wholesale electricity market in Spain; competitive benchmark prices;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • D49 - Microeconomics - - Market Structure, Pricing, and Design - - - Other

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