Determinantes del Precio Spot Eléctrico en el Sistema Interconectado Central de Chile*

  • Iryna Sikora KPMG España Asesores S.L.
  • Juan Antonio Campos Abad División de Prospectiva y Política Energética, Ministerio de Energía
  • Javier Bustos Salvagno División de Prospectiva y Política Energética, Ministerio de Energía

Abstract

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
Published
2017-10-29
How to Cite
Sikora, I., Campos Abad, J. A., & Bustos Salvagno, J. (2017). Determinantes del Precio Spot Eléctrico en el Sistema Interconectado Central de Chile*. Economic Analysis Review, 32(2), 3-38. Retrieved from https://www.rae-ear.org/index.php/rae/article/view/575
Issue
Vol. 32 No. 2 (2017)
Section
Articles

Upon submission of an article, authors are asked to indicate their agreement to abide by an open-access license. The license permits any user to download, print out, extract, archive, and distribute the article, so long as appropriate credit is given to the authors of the work. The license ensures that your article will be as widely available as possible and that your article can be included in any scientific archive. Please read about the Creative Commons Attribution License before submitting your paper. 
Except where otherwise noted, content on this site is licensed under a Creative Commons Attribution 3.0 License