UNDERSTANDING ELECTRICITY PRICE EVOLUTION – DAY-AHEAD MARKET COMPETITIVENESS IN ROMANIA
نویسندگان
چکیده
The unexpected pandemic eruption in March 2020, the European efforts to diminish gas house emissions, prolonged drought, higher inflation and war Ukraine clearly have had a strong impact on electricity price. In this paper, we analyze prices Romanian Day-Ahead Market (DAM) along with other variables (inflation, consumption traded volume of DAM) over last three half years an attempt understand its evolution future trend economic geopolitical context. Autoregressive Distributed Lag models are proposed causality among short- long-term perspective, whereas Quantile Regression (QR) is enhance results Ordinary Least Squares (OLS) regression. Furthermore, using market concentration metrics – Herfindahl-Hirschman Index (HHI), C1 C3 ratio, competitiveness DAM correlate it price evolution. indicators reflect degree competition manifested between sellers buyers respectively, their dynamics being able influence level. sellers’ side (HHI = 1500) indicates potential speculative behavior that led DAM.
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ژورنال
عنوان ژورنال: Journal of Business Economics and Management
سال: 2023
ISSN: ['2029-4433', '1611-1699']
DOI: https://doi.org/10.3846/jbem.2023.19050