Second Meeting of the Association of Competition Economics in Spain

Madrid, Spain
16 October 2007
Hosted By: Fundación Rafael del Pino and Centro de Investigación SP-SP, IESE Business School

The Association of Competition Economics (ACE) held its second meeting in Madrid on 16 October 2007 to discuss energy regulation in Spain, coordinated effects, and non-horizontal effects. As part of the conference, NERA Director Oscar Arnedillo delivered a presentation entitled "Uses and Abuses of Economic Theory in the Analysis of Competition in the Electricity Sector," with special focus on the Spanish electricity market. Mr. Arnedillo discussed various features of the electricity sector that are commonly considered to hinder competition, but which may in fact be either irrelevant for purposes of assessing the level of competitive pressures, or at odds with actual observations. These analyses and findings would suggest that competitive pressures in electricity markets may be stronger than generally considered.

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