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ID: 149983

Development of market power in the Spanish power generation sector: perspectives after market liberalization / Ciarreta, Aitor; Nasirov, Shahriyar ; Silva, Carlos

Ciarreta, Aitor	Journal Article
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Summary/Abstract

This paper provides a comprehensive analysis of the market power problem in the Spanish power generation sector and examines how and to which extent the market has developed in terms of market power concerns after the market liberalization reforms. The methodology applied in this study includes typical ex-post structural and behavioral measures employed to estimate potential for market power, namely: concentration ratios (CR) (for the largest and the three largest suppliers), the Herfindahl–Hirschman Index (HHI), Entropy, Pivotal Supply Index, the Residual Supply Index and Residual Demand Elasticity (RDE). The results are presented for the two largest Spanish generating companies (Endesa and Iberdrola) acting in the Iberian Electricity Market (MIBEL), and in the Spanish Day-ahead electricity market. The results show evidence that these companies have behaved much more competitively in recent periods than in the beginning of the market liberalization. In addition, the paper discusses important structural and regulatory changes through market liberalization processes in the Spanish Day-ahead electricity market.

Key Words

Competition ; Market Power ; Spanish Electricity Market

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ID: 111081

Development trends in the Azerbaijan oil and gas sector: achievements and challenges / Ciarreta, Aitor; Nasirov, Shahriyar

Ciarreta, Aitor	Journal Article
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2012.

Summary/Abstract

This article is study of Azerbaijan oil and gas industry. It illustrates the business climate, the impact of this sector on Azerbaijan's economy including role of SOFAZ and highlights recent developments in the energy production and the main concepts of Azeri PSAs (2009). Meanwhile, the article establishes the government policy by indentifying several factors that influenced to attract foreign investment to oil and gas sector and examines significant challenges that still remain for further development of the country's oil industry.

Key Words

Oil and Gas industry ; Regulation ; PSA

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