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dc.contributor.authorBye, Torstein
dc.contributor.authorHansen, Petter Vegard
dc.date.accessioned2011-11-07T19:32:00Z
dc.date.available2011-11-07T19:32:00Z
dc.date.issued2008
dc.identifier.issn1892-753x
dc.identifier.urihttp://hdl.handle.net/11250/180225
dc.description.abstractAbstract: All participants in power exchanges are interested in market responses when electricity prices change because this influences the profitability of actions. Contrary to most econometric work in this field, which uses annual time series or panel data, we exploit high-frequency data from a power exchange to estimate the spot price elasticities of the total market and of different market segments. The use of such data requires a simultaneous market model including both behavioral and control variables to capture short-term shifts in both demand and supply. Compared with Wolfram (1999) our short-term responses to spot market prices are not straightforward because the picture is confused by differences in production flexibilities in a complex and heterogeneous supply side, demand technologies and a combination of different end-user contracts. We show that short- and long-run price effects on demand differ significantly among hours, weekdays, seasons, and countries. Keywords: Electricity demand, Simultaneous markets, High Frequent data, Electricity Exhangeno_NO
dc.language.isoengno_NO
dc.publisherStatistics Norway, Research Departmentno_NO
dc.relation.ispartofseriesDiscussion Papers;No. 527
dc.subjectElectricity demandno_NO
dc.subjectElectricity exhangeno_NO
dc.subjectSimultaneous marketsno_NO
dc.subjectSpot pricesno_NO
dc.subjectJEL classification: Q41no_NO
dc.subjectJEL classification: D01no_NO
dc.subjectJEL classification: D51no_NO
dc.titleHow do Spot prices affect aggregate electricity demand?no_NO
dc.typeWorking paperno_NO
dc.subject.nsiVDP::Social science: 200::Economics: 210::Economics: 212no_NO
dc.source.pagenumber82 s.no_NO


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