In this paper we describe the Spanish electricity industry and its current regulatory regime. Special emphasis is given to the description and discussion of market design issues (including stranded cost recovery), the evolution of market structure, investment in generation capacity and network activities. We also provide a critical assessment of the 1997 regulatory reform, which did not succeed in introducing effective competition, but retained an opaque regulation which has been subject to continuous governmental interventionism. Furthermore, the implementation of the Kyoto agreement could show the lack of robustness of the regulatory regime.
ArocenaP.WaddamsC. (2001). “Generating Efficiency: Economic and Environmental Regulation of Public and Private Electricity Generators in Spain” International Journal of Industrial Organization, Vol. 20, No. 1.
2.
AtienzaL.de QuintoJ. (2003). “Un Mercado Eléctrico Irrelevante”, EL PAIS, July 22 2003, p. 48.
3.
Comisión Nacional de Energía (1997). “Informe sobre el ‘Protocolo para el Establecimiento de una Nueva Regulación del Sistema Eléctrico Nacional’.” I026/96, http://www.cne.es/pdf/i026_96.pdf
4.
Comisión Nacional de Energía and Entidade Reguladora do Sector Eléctrico (2002). “The Iberian Electricity Market: Organisational Model”, Madrid.
5.
Comisión Nacional de la Energía (2003a), “Informe Marco sobre la Demanda de Energía Electrica y Gas Natural, y su Cobertura”, Madrid.
6.
Comisión Nacional de la Energía (2004). “Electricity consumption in the Spanish mainland markets in 2003”, Madrid, available at http://www.cne.es/pdf/PA004_04ingles.pdf
7.
CrampesC. (2003). “Cost recovery and short run efficiency”. In LévêqueF., ed., “Transport pricing of electricity networks”. London: Kluwer Academic Publishers. pp.105-135.
8.
CrampesC.LaffontJ.J. (1995). “Transfers and incentives in the Spanish electricity sector”, Revista Española de Economía, Monográfico: “Regulación”: 117-140.
9.
FabraN.ToroJ. (forthcoming), “Price Wars and Collusion in the Spanish Electricity Market”, International Journal of Industrial Organization.
10.
Fabra-UtrayJ. (2004). “Un Mercado para la Electricidad: ¿Liberalization o Regulatión?”. Madrid: Marcial Pons.
11.
Griffel-TatjéE.Knox LovellC.A. (2003). “The Managers versus the Consultants”. Scandinavian Journal of Economics. 105(1), 119-138.
12.
LasherasM.A. (1998). “Stranded Costs in the Spanish Electricity Industry”. WP 006/98. Madrid: Comisión del Sistema Eléctrico Nacional.
13.
NewberyD. (1998). “Competition, Contracts and Entry in the Electricity Spot Market”. Rand Journal of Economics. 29 (4), 726-749.
14.
UCTE (2003). “UCTE System Adequacy Forecast”. Madrid.
15.
UNESA (2004). “La Tarifa Eléctrica 2004”. Madrid.
16.
WolakF. (2004). “International Experience with Electricity Market Monitoring”. CSEM Working Paper 134.
