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Modelling Prices In Competitive Electricity Markets
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Electricity markets are structurally different to othercommodities, and the realtime dynamic balancing of the electricitynetwork involves many external factors. Because of this, it is nota simple matter to transfer conventional models of financial timeseries analysis to wholesale electricity prices.The rationale for this compilation of chapters from internationalauthors is, therefore, to provide econometric analysis of wholesalepower markets around the world, to give greater understanding oftheir particular characteristics, and to assess the applicabilityof various methods of price modelling.Researchers and professionals in this sector will find the book aninvaluable guide to the most important stateoftheart modellingtechniques which are converging to define the special approachesnecessary for unravelling and forecasting the behaviour ofelectricity prices. It is a highquality synthesis of the work offinancial engineering, industrial economics and power systemsanalysis, as they relate to the behaviour of competitiveelectricity markets.
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