Illustrated on the case of Nordic electricity market we conduct an econometric analysis of area price spreads (difference between area price and system price) in thirteen price zones during 2010 (Jan) - 2012 (Jul). The objectives of the study are twofold: (1) assess the dynamics of area price...

This paper presents new and updated evidence on the efficiency of the EPAD contracts in the Nordic financial electricity market, based on a long sample of 14 years, from 2000 to 2013 inclusive. The Electricity Price Area Differentials (EPADs) are used to hedge against price differences between a...

Electricity wholesale markets are undergoing rapid transformation due to the increasing share of distributed and variable renewable energy sources (vRES) penetrating the market. The increasing shares of stochastic wind generation bring along greater deviations between the real time power...