Title :
Contract auctions to assure supply adequacy in an uncertain energy environment
Author :
Rudnick, Hugh ; Mocarquer, Sebastián
Author_Institution :
Univ. Catolica de Chile, Santiago
Abstract :
The paper reviews solutions being explored to face the supply problems faced in the Chilean electricity market oven recent years, given unexpected restrictions in natural gas transfers from Argentina. Investment in generation came to a stall, given uncertainties in natural gas supply and the risk to contract with distributors at regulated prices. A change of law was introduced, incorporating market oriented schemes that aim at transferring market expected long term prices to final consumers, replacing the action of the regulator. An auction scheme was introduced and distributors will make a first call for bids at mid 2006
Keywords :
contracts; investment; power markets; power supply quality; power system economics; pricing; risk management; Argentina; Chilean electricity market; contract auctions; contract risk; gas supply; investment; long term prices; market oriented schemes; prices regulation; supply adequacy; uncertain energy environment; Contracts; Electricity supply industry; Fuel economy; Government; Hydroelectric power generation; Natural gas; Petroleum; Pipelines; Power generation economics; Protocols; Power sector deregulation; auctions; electric market; energy dependence; natural gas; risk allocation;
Conference_Titel :
Power Engineering Society General Meeting, 2006. IEEE
Conference_Location :
Montreal, Que.
Print_ISBN :
1-4244-0493-2
DOI :
10.1109/PES.2006.1709563
