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Provision of information and reliability insurances in the electricity generation spot market in Colombia

Author

Listed:
  • David Tobón Orozco

Abstract

This paper aims to introduce some market mechanisms that can improve reliability in the market for electricity generation in Colombia, these are: 1) to provide additional information to agents in a market which by nature is random and 2) reliability insurances, recognizing that the demands are highly inflexible. We also develop an application to show how those mechanisms operate in practice and identify the constraints that must be corrected so that they can operate in this country.

Suggested Citation

  • David Tobón Orozco, 2001. "Provision of information and reliability insurances in the electricity generation spot market in Colombia," Grupo Microeconomía Aplicada 020, Universidad de Antioquia, Departamento de Economía.
    • Handle: RePEc:lde:grupom:020
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    More about this item

    Keywords

    price forecasting; insurances; reliability; electricity spot market; failures of capacity; energy rationing;
    All these keywords.

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • L5 - Industrial Organization - - Regulation and Industrial Policy
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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