Market power in the Spanish electricity auction

被引：18

作者：

Ciarreta, Aitor ^{[1
]}

Paz Espinosa, Maria ^{[1
]}

机构：

[1] Univ Basque Country, Dept Fundamentos Anal Econ 2, Bilbao 48015, Spain

来源：

JOURNAL OF REGULATORY ECONOMICS | 2010年 / 37卷 / 01期

关键词：

Market power; Electricity market; SUPPLY FUNCTION EQUILIBRIA; SPOT MARKET; TACIT COLLUSION; COMPETITION; INDUSTRY; ENGLAND; WALES; BIDS;

D O I：

10.1007/s11149-009-9102-7

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Hourly data from the Spanish day-ahead electricity auction is used to obtain a lower bound measure of generators' market power. Our method is not based on cost estimates but rather on the behavioral differences between strategic generators and more competitive producers. The results indicate that, despite the price cap effect of regulation in this market, the larger operators in the day-ahead market are able to increase significantly prices above the competitive benchmark. We also show that the two large generators do not exploit the full potential of their market power.

引用

页码：42 / 69

页数：28

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