AI SearchElectricity prices in a competitive environment : a preliminary analysis of the deregulated Thai electricity industry
Call Number: AIT Thesis no. ET-01-4 Material type:
SeriesSeries: Asian Institute of Technology. Thesis ; no. ET-01-4Publication details: Bangkok : Asian Institute of Technology, 2001Description: 113 leavesSubject(s): Online resources: Dissertation note: Thesis (M.Eng.) - Asian Institute of Technology, 2001 Summary: The electricity industry throughout the world is currently undergoing a significant transition towards restrncturing and deregulation. The new system is designed to create a competition in production, which would result in lower ·prices in electricity market. Following this new legislation, Thailand has initiated institutional and strnctural reform with a belief that this could be the best way forward for the Thailand Electricity Supply Industry (ESI) in order to improve the efficiency, to initiate the real time pricing reflected by actual costs, and to tackle their financial debts. As of January 2003, the regulatory framework of the Thai electricity market will be replaced by new legislation more conductive to competition. As this trend continues, the relationship between the cost of producing electricity and the price charged for it will change fundamentally. Under the regulatory system, electricity prices have generally been equal to "embedded costs"- the average costs of producing the electricity. If fully competitive electricity markets develop, prices will not be set to average costs. The generation price of electricity will be set by the operating costs of the most expensive generating unit needed to meet demand, or what is referred to in economics as the "marginal cost" of production. The emergence of competitive markets for electricity generation services is changing the way that electricity is and will be priced in all over the world. This report presents the results of an analysis that focuses on, firstly, pricing behaviors of two different pricing system: regulated prices based on average costs and competitive prices based on marginal costs, secondly, the incurred stranded costs, and finally, the possibility to exercise market power in the new competition environment. Thailand Power Sector is employed to illustrate this point.
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A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering, School of Environment, Resources and Development
Thesis (M.Eng.) - Asian Institute of Technology, 2001
The electricity industry throughout the world is currently undergoing a significant transition towards restrncturing and deregulation. The new system is designed to create a competition in production, which would result in lower ·prices in electricity market. Following this new legislation, Thailand has initiated institutional and strnctural reform with a belief that this could be the best way forward for the Thailand Electricity Supply Industry (ESI) in order to improve the efficiency, to initiate the real time pricing reflected by actual costs, and to tackle their financial debts. As of January 2003, the regulatory framework of the Thai electricity market will be replaced by new legislation more conductive to competition. As this trend continues, the relationship between the cost of producing electricity and the price charged for it will change fundamentally. Under the regulatory system, electricity prices have generally been equal to "embedded costs"- the average costs of producing the electricity. If fully competitive electricity markets develop, prices will not be set to average costs. The generation price of electricity will be set by the operating costs of the most expensive generating unit needed to meet demand, or what is referred to in economics as the "marginal cost" of production. The emergence of competitive markets for electricity generation services is changing the way that electricity is and will be priced in all over the world. This report presents the results of an analysis that focuses on, firstly, pricing behaviors of two different pricing system: regulated prices based on average costs and competitive prices based on marginal costs, secondly, the incurred stranded costs, and finally, the possibility to exercise market power in the new competition environment. Thailand Power Sector is employed to illustrate this point.
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