The Iberian Electricity Market Agents Decisions Concerning CO2 Prices in Kyoto and Post-Kyoto Periods

Abstract

In this paper it is analysed the impact of expected CO2 prices for Kyoto and Post-Kyoto periods on Mibels agents decisions. The generation scheduling changes when comparing an oligopoly to perfect competition in pre and post integration and CO2 pricing situations. The focussed aspects include clearing prices, the value of the different technologies, and how both countries are likely to be affected. We develop a Cournot game to model Portugal, Spain and MIBEL in a complex and detailed agent-based model, taking into account technical constraints such as ramp rates and startup and shutdown costs.