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Detecting and measuring market power in the Philippine wholesale electricity market

Author

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  • Ma. Joy V. Abrenica

    () (University of the Philippines School of Economics)

Abstract

During the first quarter of commercial operation of the Philippine wholesale electricity market, an unexpected surge in clearing prices led to an investigation of public utilities accused of collusion. The paper examines the regulatory response to the first antitrust case in the electricity market. Using actual offers submitted by generators to the market operator and applying a variant of competitive benchmark analysis, the paper traces the price surge to strategic bidding and capacity withholding by public generators.

Suggested Citation

  • Ma. Joy V. Abrenica, 2009. "Detecting and measuring market power in the Philippine wholesale electricity market," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 46(2), pages 5-46, December.
  • Handle: RePEc:phs:prejrn:v:46:y:2009:i:2:p:5-46
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/2/669
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    More about this item

    Keywords

    market power; wholesale lectricity market; strategic bidding;

    JEL classification:

    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L44 - Industrial Organization - - Antitrust Issues and Policies - - - Antitrust Policy and Public Enterprise, Nonprofit Institutions, and Professional Organizations
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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