Analysis of the Electric Power Sector Restructuring in a Cost-Based Dispatch Environment

摘要

Introduction of competition in the electricity supply industry has required several adjustments or in some cases significant improvements, depending on the original design and its implementation. This study analyzes the impact of private ownerships on the spot prices and market power in a system dominated by hydroelectric capacity based on the Panamanian electricity market data. Besides, we apply the Cournot-Nash equilibrium model to evaluate the generating company?s profit in an electricity market with cost-based dispatch. Despite the premise that competition in the wholesale market will lead to lower prices, it has been shown that the retail prices for residential consumers have gradually increased after the restructuring process.