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Multinational Electricity Market Integration and Electricity Price Dynamics.
Dalarna University, School of Technology and Business Studies, Economics.
2008 (English)In: Proceedings of the EEM 2008, Lissabon, 2008Conference paper, Published paper (Refereed) Published
Abstract [en]

The paper empirically explores the electricity price dynamics in the Nordic power market, Nord Pool. In particular, the focus is on determining what effect the multinational market integration, during the years 1996-2006, has had on the conditional mean electricity price, its volatility, the price jump-intensity and the price jump size. Empirically the study reveals that the conditional mean electricity price increased when Finland joined, and remained at the higher level when Denmark also joined. Turning to the price volatility, this increased when Finland joined, but decreased when Denmark also joined. However, the price jump-intensity decreased both when Finland and Denmark joined the market. This means that a larger electricity market seems to reduce the probability of sudden price jumps. That is, the multinational electricity market integration seems to have created a market that handles external shocks to supply and demand more efficient than the separate national electricity markets previously did.

Place, publisher, year, edition, pages
Lissabon, 2008.
Keyword [en]
Regionala förändringsprocesser
Identifiers
URN: urn:nbn:se:du-3608OAI: oai:dalea.du.se:3608DiVA, id: diva2:521895
Conference
5th International Conference on the European Electricity Market, 2008. , Lissabon, 28-30 May, 2008
Available from: 2008-12-22 Created: 2008-12-22 Last updated: 2012-04-24Bibliographically approved

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CiteExportLink to record
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Citation style
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