Auction approaches of long-term contracts to ensure generation investment in electricity markets: Lessons from the Brazilian and Chilean experiences

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dc.contributor.authorMoreno, R.
dc.contributor.authorBarroso, L. A.
dc.contributor.authorRudnick, H.
dc.contributor.authorMocarquer, S.
dc.contributor.authorBezerra, B.
dc.date.accessioned2024-01-10T13:11:22Z
dc.date.available2024-01-10T13:11:22Z
dc.date.issued2010
dc.description.abstractThe implementation of auctions of long-term electricity contracts is arising as an alternative to ensure generation investment and therefore achieve a reliable electricity supply. The aim is to reconcile generation adequacy with efficient energy purchase, correct risk allocation among investors and consumers, and the politico-economic environment of the country. In this paper, a generic proposal for a long-term electricity contracts approach is made, including practical design concepts for implementation. This proposal is empirically derived from the auctions implemented in Brazil and Chile during the last 6 years. The study is focused on practices and lessons which are especially useful for regulators and policy makers that want to facilitate the financing of new desirable power plants in risky environments and also efficiently allocate supply contracts among investors at competitive prices. Although this mechanism is generally seen as a significant improvement in market regulation, there are questions and concerns on auction performance that require careful design and which are identified in this paper. In addition, the experiences and proposal described can serve to derive further mechanisms in order to promote the entrance of particular generation technologies, e.g. renewables, in the developed world and therefore achieve a clean electricity supply. (C) 2010 Elsevier Ltd. All rights reserved.
dc.description.funderFondecyt
dc.fechaingreso.objetodigital21-03-2024
dc.format.extent12 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.enpol.2010.05.026
dc.identifier.eissn1873-6777
dc.identifier.issn0301-4215
dc.identifier.urihttps://doi.org/10.1016/j.enpol.2010.05.026
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/78036
dc.identifier.wosidWOS:000282240100044
dc.information.autorucIngeniería;Rudnick H;S/I;99167
dc.issue.numero10
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final5769
dc.pagina.inicio5758
dc.publisherELSEVIER SCI LTD
dc.revistaENERGY POLICY
dc.rightsacceso restringido
dc.subjectLong-term contract
dc.subjectAuction design
dc.subjectGeneration investment
dc.subjectPOWER
dc.subject.ods07 Affordable and Clean Energy
dc.subject.odspa07 Energía asequible y no contaminante
dc.titleAuction approaches of long-term contracts to ensure generation investment in electricity markets: Lessons from the Brazilian and Chilean experiences
dc.typeartículo
dc.volumen38
sipa.codpersvinculados99167
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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