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Author Agostini, C.A.; Guzman, A.M.; Nasirov, S.; Silva, C. pdf  doi
openurl 
  Title A surplus based framework for cross-border electricity trade in South America Type Journal Article
  Year 2019 Publication Energy Policy Abbreviated Journal Energy Policy  
  Volume 128 Issue Pages 673-684  
  Keywords Electricity regulation; Import/export of electricity; South America; Chile  
  Abstract The South American region has experienced a steady increase in its demand for electricity and faces several challenges in the development of the electricity sector. Among them, high fluctuations in hydro generation, high and volatile prices of fossil fuels, and environmental and social impacts associated to energy activities. Strengthening cooperation for cross-border electricity trade is considered a sustainable alternative for addressing these challenges. For the expansion of electricity trade among countries within the region, both infrastructure and a regulation that defines the conditions of the electric power exchanges between countries are required. A good regulatory framework would allow all market players to have access to the commercialization of energy with other countries in the region, guarantee that the treatment of exchanges is non-discriminatory, and maintain the efficiency, cost effectiveness and security characteristics operation of all electricity systems. In this context, this paper proposes a framework with the basic setting conditions for the import and export of energy from the “surplus” available for exchange. The empirical analysis of the regulatory proposal, based on simulations, shows that the exchange of energy from Chile with its neighboring countries is feasible in a clear and transparent manner, reducing the marginal costs of energy and the total cost of operation, keeping the average cost of generation relatively constant.  
  Address [Agostini, Claudio A.] Univ Adolfo Ibanez, Sch Govt, Santiago, Chile, Email: Claudio.agostini@uai.cl;  
  Corporate Author Thesis  
  Publisher Elsevier Sci Ltd Place of Publication Editor  
  Language English Summary Language Original Title  
  Series Editor Series Title Abbreviated Series Title  
  Series Volume Series Issue Edition  
  ISSN 0301-4215 ISBN Medium  
  Area Expedition Conference  
  Notes WOS:000463688800064 Approved no  
  Call Number UAI @ eduardo.moreno @ Serial 995  
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Author Ciarreta, A.; Nasirov, S.; Silva, C. pdf  doi
openurl 
  Title The development of market power in the Spanish power generation sector: Perspectives after market liberalization Type Journal Article
  Year 2016 Publication Energy Policy Abbreviated Journal Energy Policy  
  Volume 96 Issue Pages 700-710  
  Keywords Competition; Market power; Spanish electricity market  
  Abstract This paper provides a comprehensive analysis of the market power problem in the Spanish power generation sector and examines how and to which extent the market has developed in terms of market power concerns after the market liberalization reforms. The methodology applied in this study includes typical ex-post structural and behavioral measures employed to estimate potential for market power, namely: concentration ratios (CR) (for the largest and the three largest suppliers), the Herfindahl-Hirschman Index (HHI), Entropy, Pivotal Supply Index, the Residual Supply Index and Residual Demand Elasticity (RDE). The results are presented for the two largest Spanish generating companies (Endesa and Iberdrola) acting in the Iberian Electricity Market (MIBEL), and in the Spanish Day-ahead electricity market. The results show evidence that these companies have behaved much more competitively in recent periods than in the beginning of the market liberalization. In addition, the paper discusses important structural and regulatory changes through market liberalization processes in the Spanish Day ahead electricity market. (C) 2016 Elsevier Ltd. All rights reserved.  
  Address [Ciarreta, Aitor] Univ Basque Country, Dept Fundamentos Anal Econ 2, BETS, Avda Lehendakari Aguirre 83, Bilbao 48015, Spain, Email: aitor.ciarreta@ehu.es;  
  Corporate Author Thesis  
  Publisher Elsevier Sci Ltd Place of Publication Editor  
  Language English Summary Language Original Title  
  Series Editor Series Title Abbreviated Series Title  
  Series Volume Series Issue Edition  
  ISSN 0301-4215 ISBN Medium  
  Area Expedition Conference  
  Notes WOS:000381530700057 Approved no  
  Call Number UAI @ eduardo.moreno @ Serial 650  
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Author Reus, L.; Munoz, F.D.; Moreno, R. pdf  doi
openurl 
  Title Retail consumers and risk in centralized energy auctions for indexed long-term contracts in Chile Type Journal Article
  Year 2018 Publication Energy Policy Abbreviated Journal Energy Policy  
  Volume 114 Issue Pages 566-577  
  Keywords Price risk; Energy auctions; Portfolio optimization  
  Abstract Centralized energy auctions for long-term contracts are commonly-used mechanisms to ensure supply adequacy, to promote competition, and to protect retail customers from price spikes in Latin America. In Chile, the law mandates that all distribution companies must hold long-term contracts – which are awarded on a competitive centralized auction – to cover 100% of the projected demand from three to fifteen years into the future. These contracts can be indexed to a series of financial parameters, including fossil fuel prices at reference locations. Drawing from portfolio theory, we use a simple example to illustrate the difficulties of selecting, through the current clearing mechanism that focuses on average costs and individual characteristics of the offers, a portfolio of long-term energy contracts that could simultaneously minimize the expected future cost of energy and limit the risk exposure of retail customers. In particular, we show that if the objective of the regulator is to limit the risk to regulated consumers, it could be optimal to include contracts that would not be selected based on individual characteristics of the offers and a least-cost auction objective, but that could significantly reduce the price variance of the overall portfolio due to diversification effects between indexing parameters.  
  Address [Reus, Lorenzo; Munoz, Francisco D.] Univ Adolfo Ibanez, Fac Ingn & Ciencias, Diagonal Las Torres 2640, Santiago, Chile, Email: fdmunoz@uai.cl  
  Corporate Author Thesis  
  Publisher Elsevier Sci Ltd Place of Publication Editor  
  Language English Summary Language Original Title  
  Series Editor Series Title Abbreviated Series Title  
  Series Volume Series Issue Edition  
  ISSN 0301-4215 ISBN Medium  
  Area Expedition Conference  
  Notes WOS:000424962800053 Approved no  
  Call Number UAI @ eduardo.moreno @ Serial 816  
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