독립적인 소규모 발전회사들이 발전시장 경쟁에 미치는 영향

초록

The wholesale spot market for electric power is peculiar in that the price elasticity of demand is extremely low and the power companies submit their bids in supply schedules. Because of these attributes, a firm with a moderate market share can become a pivotal player capable of manipulating the market equilibrium to its advantage. However, the same attributes enable small price-taking power companies to affect the market price significantly even when their market share, as a group, is minimal. This paper uses a linear supply function equilibrium model and the bidding data from Korean CBP(cost-based pool) market to measure the impact of the existence of small price-taking companies in a hypothetical price-bidding wholesale power market. The result shows that, when four percent of total capacity is held by small price-taking firms, the price is lower by around four percent than when all the capacity is held by pivotal players.

키워드