Redefinition of the scarcity price: lessons and recommendations from the Colombian Electricity Market

• Autorzy: Llanos-Pérez E. J. , Hinestroza-Olascuaga L. M.

Identyfikatory

DOI

10.22149/teee.v2i1.77

• Języki publikacji: EN

Abstrakty

EN

The Colombian government introduced a capacity market in order to promote the diversification in the energy matrix and protect users from high prices derived from dry seasonal events. Unfortunately, the flaws in the scarcity price definition- a mechanism that activates the capacity market obligation and sets a cap price for the spot market- have led into a market failure. Specifically, some generation plants have been forced to be unavailable because their variable costs are significantly higher than the scarcity price. This paper presents a qualitative and quantitative analysis of the Colombian Electricity system, with a particular emphasis on the definition of the scarcity price. Results present lessons and recommendations for policy makers based on the experience of the Colombian Electricity Market, highlighting the need of a new definition of the scarcity price and a different focus on the energy planning scheme.

Słowa kluczowe

EN

Columbia; energy system; energy market; energy planning; market price

• Wydawca: EEEIC International Publishing
• Czasopismo: Transactions on Environment and Electrical Engineering
• Rocznik: 2017
• Tom: Vol. 2, No. 1
• Strony: 19--26
• Opis fizyczny: Bibliogr. 43 poz., rys., tab.

Twórcy

autor

Llanos-Pérez E. J.

• University College of London, United Kingdom

autor

Hinestroza-Olascuaga L. M.

• Instituto Superior Técnico, Technical University of Lisbon, Portugal

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Uwagi

Opracowanie rekordu w ramach umowy 509/P-DUN/2018 ze środków MNiSW przeznaczonych na działalność upowszechniającą naukę (2019).