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

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
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. 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. (en)
Title	Estimating the volatility of electricity prices: the case of the England and Wales wholesale electricity market Estimating the volatility of electricity prices: the case of the England and Wales wholesale electricity market (en)
skos:prefLabel	Estimating the volatility of electricity prices: the case of the England and Wales wholesale electricity market Estimating the volatility of electricity prices: the case of the England and Wales wholesale electricity market (en)
skos:notation	RIV/00216208:11640/13:00394686!RIV14-MSM-11640___
http://linked.open...avai/predkladatel	Centrum pro ekonomický výzkum a doktorská studia
http://linked.open...avai/riv/aktivita	I
http://linked.open...avai/riv/aktivity	I
http://linked.open...iv/cisloPeriodika	September
http://linked.open...vai/riv/dodaniDat	2014
http://linked.open...aciTvurceVysledku	Tashpulatov, Sherzod N.
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Univerzita Karlova v Praze / Centrum pro ekonomický výzkum a doktorská studia
http://linked.open...dnocenehoVysledku	73255
http://linked.open...ai/riv/idVysledku	RIV/00216208:11640/13:00394686
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	conditional volatility; electricity prices; regulation (en)
http://linked.open.../riv/klicoveSlovo	regulation conditional volatility electricity prices
http://linked.open...odStatuVydavatele	GB - Spojené království Velké Británie a Severního Irska
http://linked.open...ontrolniKodProRIV	[EBF456CED57E]
http://linked.open...i/riv/nazevZdroje	Energy Policy
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...UplatneniVysledku	2013
http://linked.open...v/svazekPeriodika	60
http://linked.open...iv/tvurceVysledku	Tashpulatov, Sherzod N.
http://linked.open...ain/vavai/riv/wos	000323530900008
issn	0301-4215
number of pages	10 (xsd:int)
http://bibframe.org/vocab/doi	10.1016/j.enpol.2013.04.045
http://localhost/t...ganizacniJednotka	11640

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