Hourly Energy Prices in Spain: Evidence of Persistence Across Different Months

Abstract

We examine the hourly structure of energy prices in Spain using 12 one-month-long series (from November 2020 to October 2021) of samples of hourly pricing (from 00:00 to 23:00) for each day of the month and applying a long memory approach with fractional integration analysis. Our results indicate that the series are highly persistent, with shocks having permanent effects with non–mean reversion properties, with no month-specific effects on the data series.

Serbian Energy Sector in a Gap Between East and West

“…Specifically, there is a requirement for further enhancement of the regulatory framework, particularly in terms of strengthening current institutional and administrative capabilities and improving communication among institutions at both the local and state levels. The EU has identified a significant concern within Serbian energy policy due to the substantial reliance on Russian gas, amounting to 89% in 2021 (Martin-Valmayor et al, 2023). However, there are plans to partially address this issue in the near future by utilizing preaccession funds; Serbia is on track to complete a gas interconnector with Bulgaria, a development that will contribute to diversifying its energy supply.…”