Efficient capacity investment and joint production agreements in an oligopolistic electricity market: The HidroAysen joint venture project

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dc.contributor.authorRaineri, Ricardo
dc.contributor.authorContreras, Gonzalo
dc.date.accessioned2024-01-10T13:47:55Z
dc.date.available2024-01-10T13:47:55Z
dc.date.issued2010
dc.description.abstractWe develop a model for a power market with the characteristics of the Chilean power supply industry, which is an integrated system with a system operator (SO) with a vast authority to define the dispatch of the system. We evaluate whether a large joint power generator project made up by the two largest power generators is an anti-competitive project. Considering four investment technologies for power generation, namely, hydro, coal, diesel, and an advantageous hydro technology which can only be built in a large scale (HidroAysen) for the joint venture case, we use an oligopolistic Cournot model and a Benevolent Social Planner, both calibrated to the Chilean power industry, in order to assess the efficiency of alternative investment strategies and conditions whether the HidroAysen joint venture project can be barred to be judged as anti-competitive. Results suggest that the joint venture is an efficient investment and there is a pro-competitive behaviour on the part of the two power generators, and that there are benefit to consumers, who should expect non-increasing energy prices as a result of the advantageous hydrotechnology. (C) 2010 Elsevier Ltd. All rights reserved.
dc.fechaingreso.objetodigital21-03-2024
dc.format.extent9 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.enpol.2010.07.033
dc.identifier.issn0301-4215
dc.identifier.urihttps://doi.org/10.1016/j.enpol.2010.07.033
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/79317
dc.identifier.wosidWOS:000283561900018
dc.information.autorucIngeniería;Contreras G ;S/I;184909
dc.information.autorucIngeniería;Raineri R;S/I;57224
dc.issue.numero11
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final6559
dc.pagina.inicio6551
dc.publisherELSEVIER SCI LTD
dc.revistaENERGY POLICY
dc.rightsacceso restringido
dc.subjectElectricity markets
dc.subjectGame theory
dc.subjectStrategic alliances
dc.subjectALLIANCES
dc.subjectNETWORKS
dc.subject.ods09 Industry, Innovation and Infrastructure
dc.subject.odspa09 Industria, innovación e infraestructura
dc.titleEfficient capacity investment and joint production agreements in an oligopolistic electricity market: The HidroAysen joint venture project
dc.typeartículo
dc.volumen38
sipa.codpersvinculados184909
sipa.codpersvinculados57224
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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