We estimate the relationship between electricity, fuel and carbon prices in Germany, France, the Netherlands, the Nord … similar during peak and during base load for France, Germany and the Netherlands; and (c) the results are sensitive to the …

, conventional linear models of price dynamics such as the Vector Error Correction Model (VECM) can lead to erroneous inferences … about cointegration relationships, price adjustments and relative values. We propose the use of regime-switching models to … address these issues. Our regime switching model uses price data to infer whether pricing is oil-driven (integrated) or gas …

dispatch prices, it can, for example, withhold capacity at lower prices for the first bid in a period, creating a price hike …

problem as it gives resource owners the incentive to avoid future price reductions by anticipating their sales. Useful …