Estimating the volatility of electricity prices: the case of the England and Wales wholesale electricity market

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F13%3A00423408" target="_blank" >RIV/67985998:_____/13:00423408 - isvavai.cz</a>

Alternative codes found

RIV/00216208:11640/13:00394686

Result on the web

<a href="http://dx.doi.org/10.1016/j.enpol.2013.04.045" target="_blank" >http://dx.doi.org/10.1016/j.enpol.2013.04.045</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.enpol.2013.04.045" target="_blank" >10.1016/j.enpol.2013.04.045</a>

Result language

angličtina

Original language name

Estimating the volatility of electricity prices: the case of the England and Wales wholesale electricity market

Original language description

Price fluctuations that partially comove with demand are a specific feature inherent to liberalized electricity markets. The regulatory authority in Great Britain, however, believed that sometimes electricity prices were significantly higher than what was expected and, therefore, introduced price-cap regulation and divestment series. In this study, I analyze how the introduced institutional changes and regulatory reforms affected the dynamics of daily electricity prices in the England and Wales wholesale electricity market during 1990-2001.This research finds that the introduction of price-cap regulation did achieve the goal of lowering the price level at the cost of higher price volatility. Later, the first series of divestments is found to be successful at lowering price volatility, which however happens at the cost of a higher price level. Finally, this study also documents that the second series of divestments was more successful at lowering both the price level and volatility.

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

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Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2013

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Energy Policy

ISSN

0301-4215

e-ISSN

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Volume of the periodical

60

Issue of the periodical within the volume

September

Country of publishing house

GB - UNITED KINGDOM

Number of pages

10

Pages from-to

81-90

UT code for WoS article

000323530900008

EID of the result in the Scopus database

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