Since 2014
Determinantes del Precio Spot Eléctrico en el Sistema Interconectado Central de Chile*
Economic Analysis Review
View Archive Info| Field | Value | |
| Title |
Determinantes del Precio Spot Eléctrico en el Sistema Interconectado Central de Chile*
Determinantes del Precio Spot Eléctrico en el Sistema Interconectado Central de Chile |
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| Creator |
Sikora, Iryna
Campos Abad, Juan Antonio Bustos Salvagno, Javier |
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| Subject |
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VAR, spot price, electricity, Chile |
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| Description |
This paper aims to identify the key determinants of Chilean spot power price and assess their relative importance in recent price decline. To do so, we use a VAR model with weekly data between the years 2015-2016 and variance decomposition analysis to attribute variations of marginal cost to different shocks. The results show that while the availability of water for hydropower and lower fuel prices are important for explaining power spot prices, they only account for 50%-75% of the marginal cost´s variance, leaving 25%-50% to other factors, such as more renewable generation and lower generation from oil sources, among other factors
This paper aims to identify the key determinants of Chilean spot power price and assess their relative importance in recent price decline. To do so, we use a VAR model with weekly data between the years 2015-2016 and variance decomposition analysis to attribute variations of marginal cost to different shocks. The results show that while the availability of water for hydropower and lower fuel prices are important for explaining power spot prices, they only account for 50%-75% of the marginal cost´s variance, leaving 25%-50% to other factors, such as more renewable generation and lower generation from oil sources, among other factors. |
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| Publisher |
Universidad Alberto Hurtado - Facultad de Economía y Negocios
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| Contributor |
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| Date |
2017-10-29
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
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| Identifier |
http://www.rae-ear.org/index.php/rae/article/view/575
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| Source |
Revista de Análisis Económico - Economic Analysis Review; Vol 32, No 2 (2017); 3-38
Revista de Análisis Económico – Economic Analysis Review; Vol 32, No 2 (2017); 3-38 0718-8870 0716-5927 |
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| Language |
spa
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| Relation |
http://www.rae-ear.org/index.php/rae/article/view/575/598
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| Rights |
Copyright (c) 2017 Revista de Análisis Económico – Economic Analysis Review
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