کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
996083 936287 2010 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The impact of Australian ETS news on wholesale spot electricity prices: An exploratory analysis
موضوعات مرتبط
مهندسی و علوم پایه مهندسی انرژی مهندسی انرژی و فناوری های برق
پیش نمایش صفحه اول مقاله
The impact of Australian ETS news on wholesale spot electricity prices: An exploratory analysis
چکیده انگلیسی

This article investigates the impact of news concerning the development of emissions trading in Australia (such as the Carbon Pollution Reduction Scheme (CPRS)) on wholesale electricity spot prices, by using a database of 117 news announcements from December 1, 1998 to July 1, 2009. As power producers constitute the bulk of the participants of the proposed Australian emissions trading scheme, regulatory changes (about allocation, banking, coverage, targets) are indeed likely to affect the five interconnected electricity markets in New South Wales, Queensland, South Australia, Victoria, and Tasmania. We assess these effects with an ARMA(1,1)-GARCH(1,1) model, where daily electricity spot prices are regressed against exogenous variables in the mean and variance equations. This article constitutes the first empirical analysis of Australian ETS news effects on electricity wholesale spot prices. Our results show two asymmetric types of news effects, depending on their information content.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Energy Policy - Volume 38, Issue 8, August 2010, Pages 3910–3921
نویسندگان
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