Mecanismos Utilizados Para Monitorear El Poder De Mercado En Mercados Eléctricos: Reflexiones Para Colombia (Mechanisms Employed to Monitor Market Power in Electricity Markets: Reflections from Colombia)

Documentos de trabajo Economía y Finanzas No 12-6

Center for Research in Economics and Finance (CIEF), Working Papers, No. 12-6

Posted: 28 Feb 2014

See all articles by Jesús Botero

Jesús Botero

Universidad EAFIT; Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF)

John Garcia

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF)

Luis Velez

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF)

Date Written: August 20, 2012

Abstract

Spanish Abstract: El propósito de este trabajo es analizar la viabilidad de la utilización del Índice de Oferta Residual (IOR) en el pool eléctrico en Colombia para promover la competencia. A partir de la revisión de la literatura relacionada con las experiencias internacionales respecto a los mecanismos para monitorear el poder de mercado y el análisis al Documento CREG 118 de la Comisión de Regulación de Energía y Gas (CREG), la principal conclusión es que el IOR no es un buen mecanismo de control en mercados hidráulicos; mientras que el desarrollo de los mercados de largo plazo, ha sido utilizado con gran éxito según lo muestra la experiencia internacional.

English Abstract: The objective of this paper is to investigate the viability of using the Residual Supply Index (RSI) in the Colombian electrical pool, in order to promote market competition. We base our evaluation on a literature review of the international experiences related to the monitoring mechanisms of the power market and an analysis of the Document CREG 118 from the Commission for the Regulation of Energy and Gas (CREG). According to international evidence, the main conclusion from this review is that the development of long-run markets has been very favourable. However, the RSI is not a good control mechanism in hydraulic markets.

Keywords: poder de mercado, experiencias internacionales, diseño de mercado, Documento 118 CREG y Colombia

JEL Classification: L13, L81, L94

Suggested Citation

Botero, Jesús and Garcia, John and Velez, Luis, Mecanismos Utilizados Para Monitorear El Poder De Mercado En Mercados Eléctricos: Reflexiones Para Colombia (Mechanisms Employed to Monitor Market Power in Electricity Markets: Reflections from Colombia) (August 20, 2012). Documentos de trabajo Economía y Finanzas No 12-6, Center for Research in Economics and Finance (CIEF), Working Papers, No. 12-6, Available at SSRN: https://ssrn.com/abstract=2401994

Jesús Botero (Contact Author)

Universidad EAFIT ( email )

Carrera 49 N° 7 sur – 50
Bogotá, Antioquia 00000
Colombia

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF) ( email )

Carrera 49 No. 7 South - 50
Bogotá
Colombia

John Garcia

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF) ( email )

Carrera 49 No. 7 South - 50
Bogotá
Colombia

Luis Velez

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF) ( email )

Carrera 49 No. 7 South - 50
Bogotá
Colombia

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