Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.21/4877
Título: Market power analysis in the Iberian electricity market using a conjectural variations model
Autor: Lagarto, João Hermínio Ninitas
Sousa, Jorge Alberto Mendes de
Martins, Álvaro
Ferrão, Paulo Manuel Cadete
Palavras-chave: Market Power
Conjectural Variations Model
Iberian Electricity Market
Data: Nov-2014
Editora: Pergamon-Elsevier Science LTD
Citação: LAGARTO, João Hermínio Ninitas, [et al] – Market Power Analysis in the Iberian electricity market using a conjectural variations model. Energy. ISSN: 0360-5442. Vol. 76, (2014), p. 292-305.
Resumo: In the last years the electricity industry has faced a restructuring process. Among the aims of this process was the increase in competition, especially in the generation activity where firms would have an incentive to become more efficient. However, the competitive behavior of generating firms might jeopardize the expected benefits of the electricity industry liberalization. The present paper proposes a conjectural variations model to study the competitive behavior of generating firms acting in liberalized electricity markets. The model computes a parameter that represents the degree of competition of each generating firm in each trading period. In this regard, the proposed model provides a powerful methodology for regulatory and competition authorities to monitor the competitive behavior of generating firms. As an application of the model, a study of the day-ahead Iberian electricity market (MIBEL) was conducted to analyze the impact of the integration of the Portuguese and Spanish electricity markets on the behavior of generating firms taking into account the hourly results of the months of June and July of 2007. The advantages of the proposed methodology over other methodologies used to address market power, namely Residual Supply index and Lerner index are highlighted. (C) 2014 Elsevier Ltd. All rights reserved.
Peer review: yes
URI: http://hdl.handle.net/10400.21/4877
DOI: 10.1016/j.energy.2014.08.014
ISSN: 0360-5442
1873-6785
Versão do Editor: http://www.sciencedirect.com/science/article/pii/S0360544214009505
Aparece nas colecções:ISEL - Eng. Electrotécn. - Artigos

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