Calculation of Hourly Price-Demand Elasticity in the Colombian Electricity Market

Perez, Jackeline; Velásquez, Juan D.; Franco, Carlos

doi:10.1109/tla.2016.7587626

Cited by 2 publications

(3 citation statements)

References 4 publications

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“…Conversely, various empirical studies have found evidence that the elasticity of demand is close to zero in electricity markets (Burke and Abayasekara, 2018;Zhu et al, 2018). Barrientos et al (2018) and Perez et al (2016) found similar evidence in Colombia; following the Weyl-Fabinger model, this evidence implies that pass-through in competitive electricity markets should be close to unity.…”

Section: Theoretical Framework Of Pass-through In Retail Marketsmentioning

confidence: 95%

Pass-through in Colombia’s Unregulated Retail Electricity Market

Pérez

Carabalí²,

Cerón³

2022

IJEEP

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This study analyzes the pass-through of wholesale costs to retail prices for unregulated users in the Colombian electricity market, using monthly data from 2012 to 2019. This period encompasses moments with and without an El Niño phenomenon. We use an empirical model to analyze the pass-through heterogeneity according to the characteristics of users and firms, showing that the pass-through is incomplete, differs according to the presence of El Niño, and is heterogeneous. The pass-through was greater from September 2015 to May 2016 because an El Niño caused hydrological resource scarcity and several critical thermal plants halted operations. In other words, the pass-through tends to be more comprehensive during an El Niño event. Additionally, the pass-through differs between firms with a high concentration of the market and the remaining firms and between urban and non-urban users.

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Section: Theoretical Framework Of Pass-through In Retail Marketsmentioning

confidence: 95%

Pass-through in Colombia’s Unregulated Retail Electricity Market

Pérez

Carabalí²,

Cerón³

2022

IJEEP

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“…According to the principle of the power flow tracking method, the fixed cost of line transmission was superimposed on power generation and load nodes in different proportions to generate different node electricity prices, as shown in [27]. However, the demand-side response of the load to the change in electricity price was not considered.…”

Section: Literature Survey On Nodal Electricity Price Model Based On ...mentioning

confidence: 99%

“…None of the previous studies on calculating node electricity price have considered the impact of the load-side demand response on the power flow tracking method [24][25][26][27].…”

mentioning

confidence: 99%

Optimal Economic Scheduling Method for Power Systems Based on Whole-System-Cost Electricity Price

Li,

Zeng,

Wang

et al. 2023

Energies

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At present, the traditional scheduling mode of power grids generally dispatches according to the power generation cost within the safe range. Transmission costs are evenly distributed to customers according to their load ratios. There are no methods for the rational distribution of transmission costs according to the utilization degree of generation and load to transmission network resources. This traditional scheduling mode will render transmission cost distribution unfair, and it is difficult to guide reasonable load distribution in time and space. Therefore, an optimal economic scheduling method for power systems based on the whole-system-cost electricity price is proposed in this paper. For the power generation and the transmission sides, the whole-system-cost electricity price model was constructed according to the power flow tracking method. For the load side, a demand-side response model of users’ responses to electricity price changes was established. Finally, the IEEE 57 node standard model was used to simulate optimal economic scheduling. The results show that the proposed method can guide the rational distribution of power flow. The power flow is shifted moderately from far away to near the power generation center, allowing for the load demand to be guided to meet nearby customers’ demands and preventing the line from blocking, the latter of which is conducive to ensuring the safety of the power grid.

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Calculation of Hourly Price-Demand Elasticity in the Colombian Electricity Market

Cited by 2 publications

References 4 publications

Pass-through in Colombia’s Unregulated Retail Electricity Market

Pass-through in Colombia’s Unregulated Retail Electricity Market

Optimal Economic Scheduling Method for Power Systems Based on Whole-System-Cost Electricity Price

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