Efeitos da participação de consórcios no comportamento dos lances e deságios em leilões de transmissão de energia elétrica no Brasil

• Autor(a) principal: Tozei, Nayara Peneda
• Data de Publicação: 2013
• Tipo de documento: Dissertação
• Idioma: por
• Título da fonte: LOCUS Repositório Institucional da UFV
• Texto Completo: http://locus.ufv.br/handle/123456789/72
• topic: Leilões; Transmissão de energia; Consórcio; Auctions, Electricity transmission; Consortia; CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA::ECONOMIA INDUSTRIAL

With the challenge of expanding the installed capacity of electric power in Brazil and correct problems the industry was facing, a process of structural reform was implemented in the country. From this reform, the expansion of power transmission segment started to be done through the process of bidding for a concession, using the instrument of auctions. Promoting competition in auctions for grant of concession of public electricity transmission in Brazil is one of the concerns of the National Agency of Electricity. In these auctions, the participation of both individual companies or consortia is allowed. These can have positive or negative effects on competition. The focus of this work was to verify the effect of the consortia bidding on the competition for the market, if the jointly bids were more or less and if the discounts were higher or lower than the bids and discounts of companies participating alone. The auctions in the segment of electric power transmission held in Brazil from 2000 to 2011 were considered. Estimates were made using models with instrumental variables and treatment effects, to consider the endogeneity in the decision of companies to form a consortium. Estimates results of 606 bids, including winners and losers (pooled model), and a model with only the 148 winning proposals were similar. Consortia, on average, were related to higher bids and lower discounts - a less competitive behavior. Descriptive analyzes were also made on the participants in the auctions and the relationship of discounts with institutional factors, to characterize the competition in the segment. Future studies should examine the factors that led consortia to have less competitive bids and discounts. The reasons for this may indicate improvements to be made in the design of the next auctions, to encourage more competitive bids by consortiums and reduce optimistic estimations of single companies.