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This paper analyzes the special features of electricity spot prices derived from the physics of this commodity and from the economics of supply and demand in a market pool. Besides mean-reversion, a property they share with other commodities, power prices exhibit the unique feature of spikes in...
Persistent link: https://www.econbiz.de/10011166403
fundamental value which cannot be inferred from the equilibrium price. Secondly, price autocorrelation can be generated only by …
Persistent link: https://www.econbiz.de/10010708652