Asymmetric pricing in the Spanish electricity market
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- dc.contributor.author Boada Bergadà, Ferran
- dc.contributor.author Gutiérrez Mayordomo, Paula
- dc.contributor.author Pérez Torres, Alba María
- dc.contributor.author Tobías Larrauri, Guillem
- dc.date.accessioned 2022-10-27T13:00:12Z
- dc.date.available 2022-10-27T13:00:12Z
- dc.date.issued 2022-07-27
- dc.description Treball de Fi de Grau en Economia. Curs 2021-2022ca
- dc.description Tutora: Rosa Ferrer Zarzuelaca
- dc.description.abstract This article investigates the extent to which the wholesale electricity market in Spain has price asymmetries in the 2017-2020 period. This phenomenon, known as the Rockets and Feathers effect since its first application in gasoline markets by Bacon in 1991, is analyzed following two different empirical approaches, the non-linear regression used in that article and the lagged differences broadly applied in recent Rockets and Feathers literature like Remer 2015. Besides, this second methodology is divided into different variants depending on the number of lags, and the controls that are taken into account. The study includes data from the main cost fluctuation sources in the period for the technologies involved in overall production, and no other papers have discussed this hypothesis in the Spanish daily electricity case to the best of our knowledge. Our estimations conclude that no asymmetric pricing can be proved significantly through any of the two analyses.ca
- dc.format.mimetype application/pdf*
- dc.identifier.uri http://hdl.handle.net/10230/54623
- dc.language.iso engca
- dc.rights © Tots els drets reservatsca
- dc.rights.accessRights info:eu-repo/semantics/openAccessca
- dc.subject.other Treball de fi de grau – Curs 2021-2022ca
- dc.title Asymmetric pricing in the Spanish electricity marketca
- dc.type info:eu-repo/semantics/bachelorThesisca