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How does market architecture affect price dynamics? : a time series analysis of the Italian day-ahead electricity prices

Petrella, Andrea; Sapio, Sandro - 2009

How do changes in the market architecture affect the dynamics of deregulated electricity prices? We investigate this issue in the context of the Italian Power Exchange (IPEX), using data on the daily average day-ahead price (PUN) between April 2004 and December 2008. Estimates of baseline time...