Hosted by the 3rd HAEE Conference: Energy Transition: European and Global Perspectives | International Event, Wyndham Grand Athens Hotel, May 3-5, 2018, Athens, Greece.
What is the session about?
Modern energy markets form a rather complex network of scattered production, delivery and trading nodes, each of which is often governed by different operational rules and regulatory authorities. Despite the proclaimed heterogeneity, empirical evidence has shown that over the years the level of market coupling constantly increases being the result of policy measures, trading activity or upgrades in physical inter-connectivity. For other reasons, a certain degree of integration is also expected between pairs of energy markets controlling the price of interrelated commodities (see e.g. the interaction between natural gas and power markets). This often causes a complex cross-dependence structure, which poses a challenge from a modelling point of view.
The focus of this session will be the study of energy market integration by means of seemingly divergent but often complementary approaches, ranging from macroscopic econometric analyses to models of market microstructure.
Indicative (not exclusive) list of topics
1) Price convergence and cointegration analysis
2) Restructuring policies and their importance for market integration
3) Assessment of the European energy market integration process
4) New market designs and trading protocols facilitating cross-border coupling
5) Market inefficiencies and arbitrage opportunities
6) Volatility and risk transmission
7) The interplay between power and fossil-fuel energy commodities
Whom is this session relevant to?
Potential participants of the 3rd HAEE international conference with a strong interest in energy markets are encouraged to submit their abstract/paper for consideration in this special session (don’t forget though to make a note to the organizers and myself).
Abstract submission deadline (set by HAEE): March 9, 2018
Looking forward to seeing you in Athens on May!