Pass-through in Colombia’s unregulated retail electricity market

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 hete...

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Detalles Bibliográficos
Autores: Meneses, Luis, Carabali, Jaime, Perez, Alex
Tipo de recurso: artículo
Fecha de publicación:2022
País:Colombia
Institución:Universidad Cooperativa de Colombia
Repositorio:Repositorio UCC
OAI Identifier:oai:https://repository.ucc.edu.co:20.500.12494/46533
Acceso en línea:https://repository.ucc.edu.co/handle/20.500.12494/46533
Access Level:acceso abierto
Palabra clave:Pass-through
Electricity Markets
Retail prices
Wholesale costs
Retail Prices
Wholesale Costs
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spelling Pass-through in Colombia’s unregulated retail electricity marketMeneses, LuisCarabali, JaimePerez, AlexPass-throughElectricity MarketsRetail pricesWholesale costsPass-throughElectricity MarketsRetail PricesWholesale CostsThis 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.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.https://orcid.org/0000-0003-0467-8970https://scienti.minciencias.gov.co/cvlac/visualizador/generarCurriculoCv.do?cod_rh=0001379080Universidad Cooperativa de Colombia, Facultad de Ciencias Económicas, Administrativas y Contables, Contaduría Pública, PopayánPopayánContaduría Pública2022-09-16info:eu-repo/semantics/article575 - 5832146-4553https://repository.ucc.edu.co/handle/20.500.12494/46533Perez, A., Carabali, J., & Meneses, L. (2022). Pass-through in Colombia’s Unregulated Retail Electricity Market. International Journal of Energy Economics and Policy, 12(4), 575–583. https://doi.org/10.32479/ijeep.13086International Journal of Energy Economics and Policyhttps://www.econjournals.com/index.php/ijeep/article/view/13086Vol. 12 N° 4info:eu-repo/semantics/openAccessreponame:Repositorio UCCinstname:Universidad Cooperativa de Colombiainstacron:Universidad Cooperativa de Colombia2022-09-27T22:37:09Z
dc.title.none.fl_str_mv Pass-through in Colombia’s unregulated retail electricity market
title Pass-through in Colombia’s unregulated retail electricity market
spellingShingle Pass-through in Colombia’s unregulated retail electricity market
Meneses, Luis
Pass-through
Electricity Markets
Retail prices
Wholesale costs
Pass-through
Electricity Markets
Retail Prices
Wholesale Costs
title_short Pass-through in Colombia’s unregulated retail electricity market
title_full Pass-through in Colombia’s unregulated retail electricity market
title_fullStr Pass-through in Colombia’s unregulated retail electricity market
title_full_unstemmed Pass-through in Colombia’s unregulated retail electricity market
title_sort Pass-through in Colombia’s unregulated retail electricity market
dc.creator.none.fl_str_mv Meneses, Luis
Carabali, Jaime
Perez, Alex
author Meneses, Luis
author_facet Meneses, Luis
Carabali, Jaime
Perez, Alex
author_role author
author2 Carabali, Jaime
Perez, Alex
author2_role author
author
dc.subject.none.fl_str_mv Pass-through
Electricity Markets
Retail prices
Wholesale costs
Pass-through
Electricity Markets
Retail Prices
Wholesale Costs
topic Pass-through
Electricity Markets
Retail prices
Wholesale costs
Pass-through
Electricity Markets
Retail Prices
Wholesale Costs
description 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.
publishDate 2022
dc.date.none.fl_str_mv 2022-09-16
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv 2146-4553
https://repository.ucc.edu.co/handle/20.500.12494/46533
Perez, A., Carabali, J., & Meneses, L. (2022). Pass-through in Colombia’s Unregulated Retail Electricity Market. International Journal of Energy Economics and Policy, 12(4), 575–583. https://doi.org/10.32479/ijeep.13086
identifier_str_mv 2146-4553
Perez, A., Carabali, J., & Meneses, L. (2022). Pass-through in Colombia’s Unregulated Retail Electricity Market. International Journal of Energy Economics and Policy, 12(4), 575–583. https://doi.org/10.32479/ijeep.13086
url https://repository.ucc.edu.co/handle/20.500.12494/46533
dc.relation.none.fl_str_mv International Journal of Energy Economics and Policy
https://www.econjournals.com/index.php/ijeep/article/view/13086
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 575 - 583
dc.coverage.none.fl_str_mv Vol. 12 N° 4
dc.publisher.none.fl_str_mv Universidad Cooperativa de Colombia, Facultad de Ciencias Económicas, Administrativas y Contables, Contaduría Pública, Popayán
Popayán
Contaduría Pública
publisher.none.fl_str_mv Universidad Cooperativa de Colombia, Facultad de Ciencias Económicas, Administrativas y Contables, Contaduría Pública, Popayán
Popayán
Contaduría Pública
dc.source.none.fl_str_mv reponame:Repositorio UCC
instname:Universidad Cooperativa de Colombia
instacron:Universidad Cooperativa de Colombia
instname_str Universidad Cooperativa de Colombia
instacron_str Universidad Cooperativa de Colombia
institution Universidad Cooperativa de Colombia
reponame_str Repositorio UCC
collection Repositorio UCC
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score 15.638193

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