A simulation model proposed to Spanish electricity pool

In the last decade, a liberalization process of the electricity sector was undertaken in many countries with the objective of increasing the internal efficiency of electricity enterprises. In this context, the creation of the wholesaler electricity market is the central element of the new electricity systems. However, although the functioning of such a market is based, in many cases, on a mechanism of competitive auctions, the international experience shows the presence of higher prices compared to the competitive levels. This paper develops a simulation model of the Spanish electricity pool with the objective of analyzing if such a market is really competitive or if generator enterprises have developed strategic behaviours. (Author)