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Precios y desempeño regulatorio en el pool eléctrico español


  • John J. García Rendón


  • Jhonny Moncada Mesa



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.

Suggested Citation

  • John J. García Rendón & Jhonny Moncada Mesa, 2015. "Precios y desempeño regulatorio en el pool eléctrico español," Documentos de Trabajo CIEF 013314, Universidad EAFIT.
  • Handle: RePEc:col:000122:013314

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    Regulación; precios; cointegración en panel; pool eléctrico español;

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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