| 1. |
- Bask, Mikael, et al.
(author)
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Market Structure and the Stability and Volatility of Electricity Prices
- 2008
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Reports (other academic/artistic)abstract
- By using a novel approach in this paper,(?,??)-analysis, we have found that electricity prices most of the time have increased in stability and decreased in volatility when the Nordic power market has expanded and the degree of competition has increased. That electricity prices at Nord Pool have been generated by a stochastic dynamic system that most often has become more stable during the step-wise integration of the Nordic power market means that this market is less sensitive to shocks after the integration process than it was before this process. This is good news.
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| 2. |
- Bask, Mikael, et al.
(author)
-
The Stability and Volatility of Electricity Prices: An Illustration of (λ, σ2) Analysis
- 2007
-
Reports (other academic/artistic)abstract
- The aim of this letter is to discuss and illustrate what we call (λ, σ2)- analysis, which is a method to distinguish between the stability of a stochastic dynamic system and the volatility of a variable generated by this system. It is also emphasized that this method is able to generate new research questions for economic theory. The data set used in an empirical illustration is spot electricity prices from Nord Pool.
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| 3. |
- Widerberg, Anna, 1976
(author)
-
An Electricity Trading System with Tradable Green Certificates and CO2 Emission Allowances
- 2011
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Reports (other academic/artistic)abstract
- Combinations of various policy instruments to deal with the threat of cli- mate change are used throughout the world. The aim of this article is to investigate an electricity market with two di¤erent policy instruments, Tradable Green Certi cates (TGCs) and CO2 emission allowances (an Emission Trading System, ETS). We analyze both the short- and long- run e¤ects of a domestic market and a market with trade. We nd that increasing the TGC quota obligation will decrease the electricity produced using non-renewable sources as well as the long-run total production of electricity. For the electricity produced using renewable energy sources, an increase in the quota obligation leads to increased production in al- most all cases, with assumptions based on historical data. The impacts of the ETS price on the electricity production are negative for all electricity production, which is surprising. This means that the combination of ETS and TGCs gives unexpected and unwanted results for the electricity pro- duction using renewable sources, since an increase in the ETS price leads to a decrease in this production.
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| 4. |
- Widerberg, Anna, 1976, et al.
(author)
-
The Impact of the EU Emissions Trading System on CO2 Intensity in Electricity Generation
- 2009
-
Reports (other academic/artistic)abstract
- Prior to the launch of the EU Emissions Trading System (EU ETS) in 2005, the electricity sector was widely proclaimed to have more low-cost emission abatement opportunities than other sectors. If this were true, effects of the EU ETS on carbon dioxide (CO2) emissions would likely be visible in the electricity sector. Our study looks at the effect of the price of emission allowances (EUA) on CO2 emissions from Swedish electricity generation, using an econometric time series analysis for the period 2004–2008. We control for effects of other input prices and hydropower reservoir levels. Our results do not indicate any link between the price of EUA and the CO2 emissions of Swedish electricity production. A number of reasons may explain this result and we conclude that other determinants of fossil fuel use in Swedish electricity generation probably diminished the effects of the EU ETS.
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