Influence of the Industry’s Output on Electricity Prices: Comparison of the Nord Pool and HUPX Markets
Electricity markets are characterised by high sensitivity to variations in supply and demand conditions. However, they also exhibit a number of specific characteristics, including large daily, weekly, and seasonal price fluctuations. The aim of this article is to assess the impact of fluctuations in...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-08-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/15/16/6044 |
| _version_ | 1797445690342768640 |
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| author | Jerzy Rembeza Grzegorz Przekota |
| author_facet | Jerzy Rembeza Grzegorz Przekota |
| author_sort | Jerzy Rembeza |
| collection | DOAJ |
| description | Electricity markets are characterised by high sensitivity to variations in supply and demand conditions. However, they also exhibit a number of specific characteristics, including large daily, weekly, and seasonal price fluctuations. The aim of this article is to assess the impact of fluctuations in the industry’s output on wholesale electricity prices. Results were compared for the Nord Pool markets, with a high share of renewable energy supply, and the HUPX markets, where fossil fuel and/or nuclear energy supply dominates. The results obtained generally indicate the positive impact of changes in the industry’s output on wholesale electricity prices. This impact was stronger in the HUPX markets and for periods in daily and weekly cycles with higher energy demands. The results indicate that the sensitivity of electricity prices to fluctuations in the industry’s output is lower in markets with a higher share of renewable energy, especially for periods with higher energy demands. |
| first_indexed | 2024-03-09T13:30:24Z |
| format | Article |
| id | doaj.art-aac3f8b456944183987f590a1efa01d5 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-09T13:30:24Z |
| publishDate | 2022-08-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-aac3f8b456944183987f590a1efa01d52023-11-30T21:19:28ZengMDPI AGEnergies1996-10732022-08-011516604410.3390/en15166044Influence of the Industry’s Output on Electricity Prices: Comparison of the Nord Pool and HUPX MarketsJerzy Rembeza0Grzegorz Przekota1Faculty of Economic Science, Koszalin University of Technology, Kwiatkowskiego 6e, 75-343 Koszalin, PolandFaculty of Economic Science, Koszalin University of Technology, Kwiatkowskiego 6e, 75-343 Koszalin, PolandElectricity markets are characterised by high sensitivity to variations in supply and demand conditions. However, they also exhibit a number of specific characteristics, including large daily, weekly, and seasonal price fluctuations. The aim of this article is to assess the impact of fluctuations in the industry’s output on wholesale electricity prices. Results were compared for the Nord Pool markets, with a high share of renewable energy supply, and the HUPX markets, where fossil fuel and/or nuclear energy supply dominates. The results obtained generally indicate the positive impact of changes in the industry’s output on wholesale electricity prices. This impact was stronger in the HUPX markets and for periods in daily and weekly cycles with higher energy demands. The results indicate that the sensitivity of electricity prices to fluctuations in the industry’s output is lower in markets with a higher share of renewable energy, especially for periods with higher energy demands.https://www.mdpi.com/1996-1073/15/16/6044electricitywholesale pricesthe industry’s outputmulti-level analysis |
| spellingShingle | Jerzy Rembeza Grzegorz Przekota Influence of the Industry’s Output on Electricity Prices: Comparison of the Nord Pool and HUPX Markets Energies electricity wholesale prices the industry’s output multi-level analysis |
| title | Influence of the Industry’s Output on Electricity Prices: Comparison of the Nord Pool and HUPX Markets |
| title_full | Influence of the Industry’s Output on Electricity Prices: Comparison of the Nord Pool and HUPX Markets |
| title_fullStr | Influence of the Industry’s Output on Electricity Prices: Comparison of the Nord Pool and HUPX Markets |
| title_full_unstemmed | Influence of the Industry’s Output on Electricity Prices: Comparison of the Nord Pool and HUPX Markets |
| title_short | Influence of the Industry’s Output on Electricity Prices: Comparison of the Nord Pool and HUPX Markets |
| title_sort | influence of the industry s output on electricity prices comparison of the nord pool and hupx markets |
| topic | electricity wholesale prices the industry’s output multi-level analysis |
| url | https://www.mdpi.com/1996-1073/15/16/6044 |
| work_keys_str_mv | AT jerzyrembeza influenceoftheindustrysoutputonelectricitypricescomparisonofthenordpoolandhupxmarkets AT grzegorzprzekota influenceoftheindustrysoutputonelectricitypricescomparisonofthenordpoolandhupxmarkets |