Una descripción del mercado colombiano para derivados estandarizados de commodities de energía (An Overview of the Colombian Market for Standarized Derivatives of Energy Commodities)

Juan D. Velásquez (jdvelasq@unal.edu.co)1, Victor Gil (vdgilv@unal.edu.co)1, Carlos Jaime Franco (cjfranco@unal.edu.co)1

1Universidad Nacional de Colombia

This paper appears in: Revista IEEE América Latina

Publication Date: July 2015
Volume: 13,   Issue: 7 
ISSN: 1548-0992

This paper presents an overview of DERIVEX, the new Colombian market for standardized derivatives of energy commodities. With the aim of understanding the market operation in context and the sources of electricity price variability, this work presents: first, a disscusion the main physical characteristics of the electricity system; next, the operation of the energy market; and finally, the operation of DERIVEX

Index Terms:
Derivex, Electricity prices, Electricity derivatives, Spot market, Power wholesale market, Electricity markets.   

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