dc.contributor.author |
Videbeck, Steen |
|
dc.date.accessioned |
2011-03-28T20:33:40Z |
|
dc.date.accessioned |
2022-10-25T07:16:39Z |
|
dc.date.available |
2011-03-28T20:33:40Z |
|
dc.date.available |
2022-10-25T07:16:39Z |
|
dc.date.copyright |
2004 |
|
dc.date.issued |
2004 |
|
dc.identifier.uri |
https://ir.wgtn.ac.nz/handle/123456789/23531 |
|
dc.description.abstract |
This thesis uses the observed behavior of high frequency electricity spot prices to examine a range of issues in the New Zealand Electricity Market (NZEM). It develops a new approach which treats electricity delivered at different times of the day as different commodities. The analysis reveals intrinsic correlation properties that indicate the existence of distinct intra-day markets. As these properties have important implications for the stochastic modelling of high frequency electricity spot prices, a state space model is developed that preserves this intra-day market structure. The multiple commodity approach is then combined with factor analysis to investigate the integration of the NZEM. In a pool market, like the NZEM, competition is maximized when the market is integrated. The analysis suggests that, while there is evidence that the NZEM is susceptible to segment along North/South lines during certain periods, the overall economic significance of this segmentation is low. |
en_NZ |
dc.format |
pdf |
en_NZ |
dc.language |
en_NZ |
|
dc.language.iso |
en_NZ |
|
dc.publisher |
Te Herenga Waka—Victoria University of Wellington |
en_NZ |
dc.title |
Electricity spot price behavior: insights into the NZEM |
en_NZ |
dc.type |
Text |
en_NZ |
vuwschema.type.vuw |
Awarded Research Masters Thesis |
en_NZ |
thesis.degree.discipline |
Economics |
en_NZ |
thesis.degree.grantor |
Te Herenga Waka—Victoria University of Wellington |
en_NZ |
thesis.degree.level |
Masters |
en_NZ |
thesis.degree.name |
Master of Arts |
en_NZ |