Skip to content
University of Maryland LibrariesDigital Repository at the University of Maryland
    • Login
    View Item 
    •   DRUM
    • College of Behavioral & Social Sciences
    • Economics
    • Economics Research Works
    • View Item
    •   DRUM
    • College of Behavioral & Social Sciences
    • Economics
    • Economics Research Works
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Simulation of the Colombian Firm Energy Market

    Thumbnail
    View/Open
    cramton-stoft-west-simulation-colombian-firm-energy-market-v3.pdf (441.9Kb)
    No. of downloads: 590

    Date
    2006-12
    Author
    Cramton, Peter
    Stoft, Steven
    West, Jeffrey
    Citation
    "Simulation of the Colombian Firm Energy Market," (with Steven Stoft and Jeffrey West), Working Paper, University of Maryland, December 2006.
    Metadata
    Show full item record
    Abstract
    We present a simulation analysis of the proposed Colombian firm energy market. The main purpose of the simulation is to assess the risk to suppliers of participation in the market. We also are able to consider variations in the market design, and assess the impact of alternative auction parameters. Three simulation models are developed and analyzed. The first model (Model 1) uses historical price data from October 1995 through May 2006 to assess the performance risk of hypothetical thermal and hydro generating units. The second model (Model 2) uses historical price and operating data to assess performance risk of the actual generating units in Colombia over the same period. This analysis allows us to assess company risk. The third model (Model 3) differs from the other models in that it explicitly models the firm energy auction and investments going forward. Thus, the model is able to assess how the distribution of firm energy purchases differs from the firm energy target, and how this distribution depends on the firm energy demand curve. Model 3 also studies the investment decisions of suppliers, the impact of lumpy investments, and the impact of a higher scarcity price.
    URI
    http://hdl.handle.net/1903/7054
    Collections
    • Economics Research Works

    DRUM is brought to you by the University of Maryland Libraries
    University of Maryland, College Park, MD 20742-7011 (301)314-1328.
    Please send us your comments.
    Web Accessibility
     

     

    Browse

    All of DRUMCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsThis CollectionBy Issue DateAuthorsTitlesSubjects

    My Account

    LoginRegister
    Pages
    About DRUMAbout Download Statistics

    DRUM is brought to you by the University of Maryland Libraries
    University of Maryland, College Park, MD 20742-7011 (301)314-1328.
    Please send us your comments.
    Web Accessibility