Purpose – This paper set out to use an autoregressive conditional heteroscedasticity (ARCH)-type model to capture the time-varying conditional variance of Alberta electricity prices. This is of major importance in forecasting, since ARCH-type models allow the conditional variance to depend on...

Purpose – This study attempts to re-investigate the electricity consumption function for Malaysia through the cointegration and causality analyses over the period 1970 to 2005. Design/methodology/approach – The study employed the bounds-testing procedure for cointegration to examine the...

Dieser Beitrag gibt einen Überblick über die Debatte zur vertikalen Entflechtung der Stromwirtschaft in Europa. Zunächst wird die Entwicklung der EU Politik im Hinblick auf die vertikale Struktur in der Stromwirtschaft nachgezeichnet. Dann werden die theoretischen und empirischen Argumente...

The Hungarian oil company (MOL) and the national electricity holding (MVM) counted as the largest socialist enterprises already 30 years ago. Prior to 1990, they were roughly of the same size in respect of sales and employment, as well. Since the regime change, however, their development paths...

In this paper we estimate the benefits resulting from interconnecting the Italian electricity spot market. The market is currently divided into two geographic zones – North and South – with limited interzonal transmission capacity that often induces congestion, and hence potential...

This paper deals with analysing and forecasting intradaily volatility in electricity spot prices. We analyse the hourly spot prices from the Argentine Electricity Market by grouping prices in three daily series (block bids). We estimate the VAR model for the conditional mean structure and...

If they are to be attained, the objectives set in the Kyoto Protocol will impose fundamental changes on the structure of North America's economy. This text highlights the extent of the Kyoto challenge by clearly describing the historical inertia in terms of total market shares for different...

This dissertation uses recently developed empirical methodologies for the studyof multi-unit auctions to test the impacts of Financial Transmission Rights (FTRs)on the competitiveness of restructured electricity markets. FTRs are a special typeof financial option that hedge against volatility in...

There are many incentives that impact managers' disclosure decisions. This paper primarily examines one of these incentives - the capital market incentive. We offer a unique setting, the electric utility industry as it transitioned through deregulation, and we show a positive association between...