dc.contributor.author | Abadie, L.M. | |
dc.date.accessioned | 2023-06-15T14:55:56Z | |
dc.date.available | 2023-06-15T14:55:56Z | |
dc.date.issued | 2021-03-15 | |
dc.identifier.citation | Energies: 14 (6): 1632 (2021) | es_ES |
dc.identifier.uri | http://hdl.handle.net/10810/61413 | |
dc.description.abstract | The COVID-19 pandemic is having a strong impact on the economies of all countries, negatively affecting almost all sectors. This paper compares Spanish electricity and natural gas prices in the first half-year of 2020 with the prices expected for that period at the end of 2019. The half-year of 2020 selected coincides with the period of greatest impact of COVID-19 on Spanish society. Expected prices and their future probability distributions are calculated using a stochastic model with deterministic and stochastic parts; the stochastic part includes mean-reverting and jumps behaviour. The model is calibrated with 2016 2019 daily spot prices for electricity and with day-ahead prices for natural gas. The results show large monthly differences between the prices expected at the end of the year 2019 and the actual prices for the half-year; in May 2020, wholesale electricity prices are found to be EUR 31.60/MWh lower than expected, i.e., 60% lower. In the case of natural gas, the prices in the same month are EUR 8.96/MWh lower than expected, i.e., 62% lower. The spark spread (SS) is positive but lower than expected and also lower than in the same months of the previous year. © 2021 by the author. Licensee MDPI, Basel, Switzerland. | es_ES |
dc.description.sponsorship | This research is supported by the Basque Government through the BERC 2018?2021 programme and by the Spanish Ministry of Economy and Competitiveness (MINECO) through BC3 Mar?a de Maeztu excellence accreditation MDM-2017-0714. Further support is provided by the project MINECO RTI2018-093352-B-I00. Funding: This research is supported by the Basque Government through the BERC 2018–2021 programme and by the Spanish Ministry of Economy and Competitiveness (MINECO) through BC3 María de Maeztu excellence accreditation MDM-2017-0714. Further support is provided by the project MINECO RTI2018-093352-B-I00. | es_ES |
dc.language.iso | eng | es_ES |
dc.publisher | Energies | es_ES |
dc.rights | info:eu-repo/semantics/openAccess | es_ES |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-sa/3.0/es/ | * |
dc.subject | COVID-19 | es_ES |
dc.subject | Electricity prices | es_ES |
dc.subject | Jumps | es_ES |
dc.subject | Natural gas prices | es_ES |
dc.subject | Spark spread | es_ES |
dc.subject | Stochastic models | es_ES |
dc.title | Energy market prices in times of covid-19: The case of electricity and natural gas in Spain | es_ES |
dc.type | info:eu-repo/semantics/article | es_ES |
dc.rights.holder | © 2021 by the author | es_ES |
dc.rights.holder | Atribución-NoComercial-CompartirIgual 3.0 España | * |
dc.relation.publisherversion | https://dx.doi.org/10.3390/en14061632 | es_ES |
dc.identifier.doi | 10.3390/en14061632 | |