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dc.contributor.author
Katiris, Dimitrios
en
dc.date.accessioned
2021-09-09T12:07:51Z
dc.date.available
2021-09-09T12:07:51Z
dc.date.issued
2021-09-09
dc.identifier.uri
https://repository.ihu.edu.gr//xmlui/handle/11544/29801
dc.rights
Default License
dc.subject
Electricity pricing
en
dc.title
Unveiling the market’s pricing model for electricity.
en
heal.type
masterThesis
en_US
heal.dateAvailable
2021-06-21
heal.language
en
en_US
heal.access
free
en_US
heal.license
http://creativecommons.org/licenses/by-nc/4.0
en_US
heal.recordProvider
School of Science and Technology, MSC in Energy and Finance
en_US
heal.publicationDate
2021-05-24
heal.abstract
This dissertation was written as part of the MSc in Energy and Finance at the International Hellenic University. The aim of this paper is to analyze the fundamental drivers and relationships of the electricity prices in the Hellenic Day-Ahead-Market (DAM), and compare the results with other large markets of the European Union, such as German, Italian, French and Swedish. As for any market, the forces of demand and supply, generally speaking, play the most important role in the formation of prices. The idiosyncratic features of the electricity markets make them very special and by far their analysis should be founded based on some assumptions. Currently, the electricity markets are organized as markets for any other financial asset, accepting bids and asks. The purpose of electricity markets, is the scheduling of the Day- Ahead electricity supply, and the corresponding prices. Many are the variables that play a role in the formation of prices, which especially in the case of electricity markets, take into account not only economic realities and relations, but also technological developments, networks constraints, primary fuel prices and during the last decades, the generation and injection into the system, of electricity that is produced by renewable energy resources. Also the intraday distribution of demand plays a crucial role, since helps to distinguish between the high demand hours, which are called peak hours, that have high corresponding prices, and the valley time, called off-peak hours, that the demand is characterized as “normal”. The purpose of this dissertation is to mainly unveil the market’s pricing model for electricity using a rich set of fundamental variables. The relationship between the day ahead prices, demand and the injection of renewable energy into the system, and not by conventional power plants and fossil fuels. To achieve our goals and give a valid interpretation of our results, we have used principal components analysis to estimate the factors and loadings of factors of the factor model. In addition, we try to find possible patterns in the markets related to and caused by seasonal parameters.
en
heal.advisorName
Thomaidis, Nikolaos
en
heal.committeeMemberName
Thomaidis, Nikolaos
en
heal.committeeMemberName
Panagiotidis, Theodore
en
heal.committeeMemberName
Psychoyios, Dimitrios
en
heal.academicPublisher
IHU
en
heal.academicPublisherID
ihu
en_US


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