increase competition and could lead to capital savings through lower electricity prices. The unique selection of the markets …This paper examines the degree of market integration, as observed by measuring volatility spillovers, in selected … wholesale electricity spot markets from United States. We choose markets located at interconnected and non-interconnected areas …

) prices that are related to natural gas stock prices. The volatility spillover effect is the delayed effect of a returns shock … in one physical, biological or financial asset on the subsequent volatility or co-volatility of another physical …, biological or financial asset. Investigating volatility spillovers within and across energy and financial markets is a crucial …