Report on Market Performance and Market Monitoring in the Colombian Electricity Supply Industry

This report points out a number of aspects of the existing electricity market design in Colombia that could be contributing to the periods of high short-term prices observed several times since early December of 2008. These issues are classified into four broad categories: (1) system-wide market power issues, (2) local market power issues, (3) market monitoring issues, and (4) broader electricity market issues.