Retail Electricity Price Formation Factors: Lithuanian Case

Bobinaitė, Viktorija; Juozapavičienė, Aldona

doi:10.5755/j01.em.17.1.2259

Cited by 2 publications

(3 citation statements)

References 19 publications

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“…The Energy Ministry of Lithuania requires electricity suppliers to purchase electricity from RES on a mandatory basis if the electricity consumer delivers a request [51]. Electricity producers providing PSO in the energy sector receive a fixed tariff for each unit of electricity produced and supplied [193].…”

Section: Lithuaniamentioning

confidence: 99%

Public Service Obligation Levy in the Context of Energy Sustainability and Security: The Cases of Ireland, Greece, Denmark and Lithuania

Karpavicius

Baležentis

2021

Energies

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Energy policy affects the functioning of the economic and financial systems of countries worldwide. This paper provides a theoretical overview of the economy–energy nexus and discusses the particular cases of the energy policy dynamics amid the sustainability goals. This paper integrates multiple perspectives on the energy–economy nexus, with a particular focus on the energy trilemma, 4As of energy security and PESTEL approach. This allows the development of a comprehensive framework for the analysis of energy security and the sustainability interaction. A review of manifestations of the different dimensions of energy security and sustainability is carried out to identify the most topical facets of the issue. Then, the cases of the selected European Union countries (Ireland, Greece, Denmark and Lithuania) are presented to highlight the effects and features of the recent energy policy changes there. Indeed, these countries apply a PSO levy mechanism on electricity tariffs and are diverse in their geopolitical situation, economic development, geographical situation and energy dependency level. The analysis of the situations of such different countries applying the PSO levy mechanism makes it possible to perform a broader and more in-depth assessment and comparison of electricity tariff regulations. Thus, the developed theoretical model is applied to identify the major outcomes of the energy policy regimes (with a focus on tariff regulation) in the selected countries.

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Section: Lithuaniamentioning

confidence: 99%

Public Service Obligation Levy in the Context of Energy Sustainability and Security: The Cases of Ireland, Greece, Denmark and Lithuania

Karpavicius

Baležentis

2021

Energies

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“…Time series methods are applied in the works of J. C. Cuaresma et al (2004), R. Weron & A. Misiorek (2008), S. Schlueter (2010), Z. Tan et al (2010) or V. Bobinaitė & I. Konstantinavičiūtė (2012).…”

Section: B Approaches For Modelling Of Expectationsmentioning

confidence: 99%

“…A comprehensive review of the determinants that could be used to analyse electricity price expectations was performed by S. Aggarwal et al (2009). Recently, the number of papers that could be related to the topic of modelling of price expectations in the electricity market have been increasing (Bobinaitė & Konstantinavičiūtė, 2012;Catalão et al, 2007;Vahidinasab et al, 2008;Chogumaira & Hiyama, 2011;Keynia, 2012;Dev & Martin, 2014;Anbazhagan & Kumarappan, 2014;Al-Shakhs & El-Hawary, 2015;etc.). Practically, these are the papers providing empirical evidence of the key factors forming electricity prices and the relevant methods to forecast prices.…”

Section: Introductionmentioning

confidence: 99%

Modelling Electricity Price Expectations in a Day-Ahead Market: A Case of Latvia

Bobinaitė

Zuters

2016

Economics and Business

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-The paper aims at modelling the electricity generator's expectations about price development in the Latvian day-ahead electricity market. Correlation and sensitivity analysis methods are used to identify the key determinants of electricity price expectations. A neural network approach is employed to model electricity price expectations. The research results demonstrate that electricity price expectations depend on the historical electricity prices. The price a day ago is the key determinant of price expectations and the importance of the lagged prices reduces as the time backwards lengthens. Nine models of electricity price expectations are prepared for different natural seasons and types of the day. The forecast accuracy of models varies from high to low, since errors are 7.02 % to 59.23 %. The forecasting power of models for weekends is reduced; therefore, additional determinants of electricity price expectations should be considered in the models and advanced input selection algorithms should be applied in future research. Electricity price expectations affect the generator's loss through the production decisions, which are made considering the expected (forecasted) prices. The models allow making the production decision at a sufficient level of accuracy.

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Retail Electricity Price Formation Factors: Lithuanian Case

Cited by 2 publications

References 19 publications

Public Service Obligation Levy in the Context of Energy Sustainability and Security: The Cases of Ireland, Greece, Denmark and Lithuania

Public Service Obligation Levy in the Context of Energy Sustainability and Security: The Cases of Ireland, Greece, Denmark and Lithuania

Modelling Electricity Price Expectations in a Day-Ahead Market: A Case of Latvia

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