In the wake of recent energy crisis, the importance of stable prices from long-term cross-border markets for consumers and instruments for market players to hedge against spot market volatility is greater still. This research proposes the Joint Energy and Transmission Right Auction (JETRA)...

In European intraday electricity markets, a systematic zigzag pattern can be observed, characterized by alternating maxima and minima at the shift of hourly products. This price formation contradicts the fundamental understanding, that prices to are a monotonously increasing function of residual...

This paper investigates the effects of intermittent solar and wind power generation on electricity price formation in Germany. We use daily data from 2010 to 2015, a period with profound modifications in the German electricity market, the most notable being the rapid integration of photovoltaic...

Electricity spot prices are subject to transitory sharp movements commonly referred to as spikes. The paper aims at assessing their effects on model based inferences and predictions, with reference to the Nord Pool power exchange. We identify a spike as a price value which deviates substantially...

Australia’s carbon price has been in operation for two years. The electricity sector accounts for the majority of emissions covered under the scheme. This paper examines the impact of the carbon price on the electricity sector between 1 July 2012 and 30 June 2014, focusing on the National...

This paper examines the time and frequency dynamics of connectedness between oil price shocks (demand and supply), and energy, electricity, carbon and clean energy markets using the methodology developed by Diebold and Yilmaz (2012) and Barunik and Krehlik (2018). The empirical findings show...

Due to the growing share of ”green” electricity generated by renewable energy technologies, the frequency of negative price spikes has substantially increased in Germany. To reduce such events, in 2012, a market premium scheme (MPS) was introduced as an alternative to feed-in tariffs for the...

This paper proposes a game-theoretic model to analyze the strategic behavior of inc-dec gaming in market-based congestion management (redispatch). We extend existing models by considering incomplete information about competitors’ costs and a finite set of providers. We find that these...

What happens to the merit order of electricity markets when all electricity is supplied by intermittent renewable energy sources coupled with large-scale electricity storage? With near-zero marginal cost of production, will there still be a role for an energy-only electricity market? We answer...