46 CIGRE Session - CIGRE 2016, París (Francia). 21-26 agosto 2016
Resumen:
CIGRE Study committee C5 in Brazil created in 2014 a working group to focus on risk management practices. This paper analyses the results of a survey done in 2015, that intended to discover the current status of risk assessment and control practices in the commercialization of electricity in Brazil. This working group intends to outline some of the best practices in this area and contribute to the sustainable development of the Brazilian Electricity Market. As many risk factors are involved in this industry, we focused on market risk specifically as it was of particular interest to the group. Within the Brazilian Electricity Market, we find various different approaches and perceptions of what market risk represents and in the assessment methodologies used by its active players, mainly due to the existence of many risk factors to which they are exposed that can be classified as market risk, and to the particular regulatory and operational characteristics of this market. One important contribution of this work to the local market was to outline a consensus reference of which risk factors are involved in risk management and which alternative methodologies and tools are commonly used in the processes of calculating these risks locally. The survey contained questions on current risk assessment and control internal structure, aversion, policies, methodological approach, technology and control requirements. It was sent to more than 100 of the main market players, to which we received 32 complete and valid answers from public and private companies that conform a very good representation of this local power market. The results of this survey gives us a good idea of the status and ongoing developments in risk assessment and control within the Brazilian Electricity Market. By analysing the responses to the survey we were also able to present some very interesting conclusions and interpretations of the local risk management activity, and to make some interesting comparisons with other international markets. For example, the fact that regulatory and market risk are the two main risk categories most companies are concerned about, as they have indicated that important losses in these aspects have already been accounted for.
Palabras clave: Brazilian Electricity Market; Market Risk; Risk Management; Survey
Fecha de publicación: 2016-08-21.
Cita:
P. Hansen, R. Cabral, H. Leme, L.F. Schramm Rosa, R. Sacchi, D. Maciel, L.A. Barroso, Practices for risk assessment and control in the Brazilian electricity market: state of the art, 46 CIGRE Session - CIGRE 2016, París (Francia). 21-26 agosto 2016.
