Good volatility, bad volatility: What drives the asymmetric connectedness of Australian electricity markets?

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F17%3A10363789" target="_blank" >RIV/00216208:11230/17:10363789 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.1016/j.eneco.2017.06.010" target="_blank" >http://dx.doi.org/10.1016/j.eneco.2017.06.010</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.eneco.2017.06.010" target="_blank" >10.1016/j.eneco.2017.06.010</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Good volatility, bad volatility: What drives the asymmetric connectedness of Australian electricity markets?

Popis výsledku v původním jazyce

Efficient delivery of network services and the electricity infrastructure to meet the long-term consumer&apos;s interests are the main objectives and the strategies of a national electricity market, while the main interests of generators are to maximize their profit through pricing strategies. Therefore, the objective of this study is to explore whether electricity prices across the four Australian States display symmetric price volatility connectedness. The study is the first attempt in the literature to make use of intraday 5-min Australian dispatch electricity prices, spanning the period December 8th, 1998 to May 5th, 2016 to quantify asymmetries in volatility connectedness emerging from good, and bad volatility. The results provide supportive evidence that the Australian electricity markets are connected asymmetrically implying the presence of some degree of market power that is exercised by generators across regional electricity markets.

Název v anglickém jazyce

Good volatility, bad volatility: What drives the asymmetric connectedness of Australian electricity markets?

Popis výsledku anglicky

Efficient delivery of network services and the electricity infrastructure to meet the long-term consumer&apos;s interests are the main objectives and the strategies of a national electricity market, while the main interests of generators are to maximize their profit through pricing strategies. Therefore, the objective of this study is to explore whether electricity prices across the four Australian States display symmetric price volatility connectedness. The study is the first attempt in the literature to make use of intraday 5-min Australian dispatch electricity prices, spanning the period December 8th, 1998 to May 5th, 2016 to quantify asymmetries in volatility connectedness emerging from good, and bad volatility. The results provide supportive evidence that the Australian electricity markets are connected asymmetrically implying the presence of some degree of market power that is exercised by generators across regional electricity markets.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2017

Kód důvěrnosti údajů

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

Název periodika

Energy Economics

ISSN

0140-9883

e-ISSN

—

Svazek periodika

66

Číslo periodika v rámci svazku

August

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

8

Strana od-do

108-115

Kód UT WoS článku

000412033900011

EID výsledku v databázi Scopus

2-s2.0-85030484823