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Pricing policies in electricity generation contingencies

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  • David Tobón Orozco

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Abstract

This paper presents a theoretical research about market mechanisms which permit to allocate resources efficiently and to reach optimum reliability in markets subject to volatilities as electricity generation. Specially the necessity to provide additional information concerning prices and contigencies forecasts to improve allocation through spot prices is emphasized. It is also proposed to define a market of reliability insurance, which allows both to minimize social costs in the presence of contingencies in the system and to determine competitively optimum capacity. Then the applicability of these proposals in a market with technical restrictions that has to be coordinated by a central coordinator is evaluated. Finally, the most relevant conclusions are included as well as some research recommendations derived from this work.

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File URL: ftp://ftp.drivehq.com/cavasco/grupom/grumic007.pdf
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Bibliographic Info

Paper provided by Universidad de Antioquia, Departamento de Economía in its series Grupo Microeconomía Aplicada with number 013.

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Length: 41 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:lde:grupom:013

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Keywords: power markets; contingencies; reliability insurances; moral hazard.;

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