Statistically-based analysis of the electricity market price drivers

Abstract

The aim of this paper focuses on the analysis of system spot price formation factors formed by the organized electricity market operated by the Nord Pool Spot power exchange. Analysis and statistical evaluation of historical data has been performed in order to identify and rank factors according to the price impact as well as to analyze their seasonal weight. Results of this analysis should contribute to the understanding of main drivers in the system price formation; reveal possible reasons of seasonal system price fluctuations as well as occasional unpredictable price spikes which are a common feature of the spot markets.

Infrastructure of Baltic Region Transmission System: Analysis of Technical and Economic Factors of its Development

“…This process allows the hourly consideration of RES impacts on the power system and market formation. In [7], the methodology and algorithms are proposed for evaluation of the RES integration effect on the price formation and the level of system penetration.…”