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Trading Forward in the Brazilian Electricity Market

Yıl 2013, Cilt: 3 Sayı: 3, 272 - 287, 01.09.2013

Öz

We study the interaction between forward and spot electricity markets in a scenario where buyers and sellers are price takers in the forward market and trade through marketers, who play a Cournot game. Our model’s main features come from the Brazilian electricity market, where a free contract market coexists with a regulated contract market, and the spot price is the output of a stochastic dynamic algorithm. We are able to show that the price of energy bought (sold) forward decreases (increases) with the number of marketers, and that, as a result, full hedging is achieved in the limit. We also investigate the effects on prices of changes in the number of market participants and in aggregate consumption and supply, an exercise that yields important policy recommendations for the Brazilian regulator.

Yıl 2013, Cilt: 3 Sayı: 3, 272 - 287, 01.09.2013

Öz

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Ayrıntılar

Diğer ID JA34KT95MA
Bölüm Araştırma Makalesi
Yazarlar

Paulo Cesar Coutinho Bu kişi benim

Andre Rossi de Oliveira Bu kişi benim

Yayımlanma Tarihi 1 Eylül 2013
Yayımlandığı Sayı Yıl 2013 Cilt: 3 Sayı: 3

Kaynak Göster

APA Coutinho, P. C., & Oliveira, A. R. d. (2013). Trading Forward in the Brazilian Electricity Market. International Journal of Energy Economics and Policy, 3(3), 272-287.
AMA Coutinho PC, Oliveira ARd. Trading Forward in the Brazilian Electricity Market. IJEEP. Eylül 2013;3(3):272-287.
Chicago Coutinho, Paulo Cesar, ve Andre Rossi de Oliveira. “Trading Forward in the Brazilian Electricity Market”. International Journal of Energy Economics and Policy 3, sy. 3 (Eylül 2013): 272-87.
EndNote Coutinho PC, Oliveira ARd (01 Eylül 2013) Trading Forward in the Brazilian Electricity Market. International Journal of Energy Economics and Policy 3 3 272–287.
IEEE P. C. Coutinho ve A. R. d. Oliveira, “Trading Forward in the Brazilian Electricity Market”, IJEEP, c. 3, sy. 3, ss. 272–287, 2013.
ISNAD Coutinho, Paulo Cesar - Oliveira, Andre Rossi de. “Trading Forward in the Brazilian Electricity Market”. International Journal of Energy Economics and Policy 3/3 (Eylül 2013), 272-287.
JAMA Coutinho PC, Oliveira ARd. Trading Forward in the Brazilian Electricity Market. IJEEP. 2013;3:272–287.
MLA Coutinho, Paulo Cesar ve Andre Rossi de Oliveira. “Trading Forward in the Brazilian Electricity Market”. International Journal of Energy Economics and Policy, c. 3, sy. 3, 2013, ss. 272-87.
Vancouver Coutinho PC, Oliveira ARd. Trading Forward in the Brazilian Electricity Market. IJEEP. 2013;3(3):272-87.