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Evaluating the strategic supply per power plant: evidence from the spanish wholesale electricity market
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Orientador(es)
Resumo(s)
This paper analyses the relationship among marginal costs per power plant, fossil fuel prices and electricity bidding quantities in the Spanish electricity market. The results of the panel cointegration and Granger causality methods clearly indicate a differential impact of fossil fuel prices on power plants marginal costs, with a positive effect for gas power plants. The biggest negative impact on marginal costs is seen for coal technology. As a consequence of the characteristics of different production technologies, the set of marginal costs across the sample is based on coal power plants, although Endesa and Iberdrola’s marginal costs are predominantly based on gas power plants. Operating costs for hydroelectric power plants are very low when Endesa, since this technology is strongly dependent on the volatility of commodity markets and on the supply chain and production costs management.
Descrição
Palavras-chave
Fossil fuel prices Capacity generation Power plant marginal costs Panel cointegration
Contexto Educativo
Citação
Editora
Licença CC
Sem licença CC