This paper provides insight in the time-varying relation between electricity futures prices and fundamentals in the … marginal costs of production, we argue that the relation between electricity futures prices and futures prices of underlying … model that linearly relates electricity futures prices to the marginal costs of production and calculate the log …

of their output. Being sold on a market place, it makes sense to expect that electricity market prices somehow reflect … to the electricity market price.It is often assumed that the pass-through rate of emission costs in electricity prices is …The European Union Trading Scheme (EU ETS) gives emission allowances a market price and are a marginal cost factor for …

) on the futures market of electricity, gas, and coal. Our findings seem to confirm that, as expected, electricity returns …This paper addresses the economic impact of the carbon allowance market in the European Emission Trading Scheme (ETS …. Finally, an impulse-response analysis seems to corroborate that electricity futures returns suffer the consequences from …

electricity market. We also relate realized premiums to variables such as spot price levels, volatility, skewness and kurtosis … Australian electricity markets. Examining ex-post risk premiums in futures markets, we find positive and significant risk … premiums for several of the considered regions. Therefore, electricity futures prices cannot be considered as an unbiased …