<script type="text/javascript">
<!--
document.write('<div id="oa_widget"></div>');
document.write('<script type="text/javascript" src="https://beta.openaire.eu/index.php?option=com_openaire&view=widget&format=raw&projectId=undefined&type=result"></script>');
-->
</script>

COPY SCRIPT

For further information contact us at helpdesk@openaire.eu

Effects of the COVID-19 Pandemic on the Spot Price of Colombian Electricity

descriptionPublicationkeyboard_double_arrow_right Article , Journal , Other literature type 25 Oct 2021Publisher:MDPI AGJournal:Energies, volume 14, page 6,989 (eissn: 1996-1073,

Authors: Andrés Oviedo-Gómez; Sandra Milena Londoño-Hernández; Diego Fernando Manotas-Duque;

doi: 10.3390/en14216989

Effects of the COVID-19 Pandemic on the Spot Price of Colombian Electricity

- Summary
- Subjects
- Metrics

Abstract

COVID-19 disease shocked global economic activity and affected the electricity markets due to lockdown and work-from-home policies. Therefore, this study proposes an empirical analysis to identify the electricity spot price response during the preventive and mandatory insulation in Colombia, where the economic contraction caused the largest decrease in the electricity demand, especially in the industrial sector. The methodology applied was quantile regression to quantify the non-linear effect on the spot price returns, and two sample periods were selected to contrast the results: 2018 and 2019. The main findings showed that regulated demand variation caused the highest variability on the spot price dynamic during the strict quarantine. However, the price could not fully capture the effects of the demand change due to the short duration of the shock and, also, the price variability in 2019 was higher than 2020 by an El Niño shock.

Related Organizations

University of Valle
Colombia
University of Valle
Colombia

Keywords

COVID-19; pandemic; lockdown; electricity prices; electricity demand; electricity market; quantile regression approach, Technology, pandemic, T, COVID-19, electricity prices, lockdown, electricity market, electricity demand

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	2
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Top 10%
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Average
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Average