کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7350823 | 1476692 | 2018 | 16 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Pricing of electricity futures based on locational price differences: The case of Finland
ترجمه فارسی عنوان
قیمت گذاری آینده آتی براساس تفاوت قیمت های مکان: مورد فنلاند
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
مهندسی انرژی
انرژی (عمومی)
چکیده انگلیسی
We find that the pricing of Finnish electricity market futures has been inefficient during the latest 10â¯years, when the trading volumes of Electricity Price Area Differentials (EPADs) have more than doubled. Even though the calculated futures premium on EPADs is related to some risk measures and the variables capturing the demand and supply conditions in the spot electricity markets, there has been a significant positive excess futures premium in the Finnish market, and financial market participants should have been able to utilize this also in economic terms. This finding is new and relevant for the participants of the Nordic electricity markets also in the future, because both the speculative and hedging-based trading is increasing in the Nordic markets.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Energy Economics - Volume 71, March 2018, Pages 222-237
Journal: Energy Economics - Volume 71, March 2018, Pages 222-237
نویسندگان
Juha Junttila, Valtteri Myllymäki, Juhani Raatikainen,