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A Survey on the Spanish Electricity Intraday Market/El mercado de electricidad español: el mercado intradiario

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  • FURIÓ, DOLORES

    () (Departamento de Economía Financiera y Actuarial, UNIVERSIDAD DE VALENCIA, ESPAÑA.)

Abstract

The Spanish electricity intraday market presents a particular design that makes it unique in Europe. The study is carried out on an hourly basis in order to identify hourly patterns in prices and traded quantities by session. The study evidences an overall growing interest from market participants in intraday trading, particularly in the last-time-negotiated hours. Prices exhibit hourly and daily seasonality as well as mean reversion. Going in depth into the analysis of the current electricity intraday markets is of great relevance nowadays given that there is an open debate concerning the optimal design for intraday markets all over Europe as a consequence of the wholehearted integration of renewables into the power system. El diseño del mercado intradiario de electricidad español no se repite en ningún otro mercado eléctrico europeo. El presente trabajo analiza precios y cantidades negociadas utilizando una frecuencia horaria con el fin de identificar pautas de comportamiento horarios en este mercado. Se evidencia en general un interés creciente por parte de los participantes en el mercado, especialmente en las horas de última posibilidad de negociación. Los precios presentan estacionalidad tanto horaria como diaria así como reversión a la media. La profundización en el análisis de los mercados intradiarios de electricidad existentes es un tema que reviste una gran importancia dado que actualmente existe un debate abierto en relación al diseño óptimo de los mercados intradiarios en Europa como consecuencia de la decidida incorporación de las energías renovables en el sistema eléctrico.

Suggested Citation

  • Furió, Dolores, 2011. "A Survey on the Spanish Electricity Intraday Market/El mercado de electricidad español: el mercado intradiario," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 29, pages 657(20.)-65, Agosto.
  • Handle: RePEc:lrk:eeaart:29_2_13
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    References listed on IDEAS

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    1. Jose Ramon Cancelo & Antoni Espasa, 1996. "Modelling and forecastng daily series of electricity demand," Investigaciones Economicas, Fundación SEPI, vol. 20(3), pages 359-376, September.
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    5. Bushnell, James & Wolfram, Catherine, 2008. "Electricity Markets," Staff General Research Papers Archive 31547, Iowa State University, Department of Economics.
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    Cited by:

    1. Chaves-Ávila, J.P. & Fernandes, C., 2015. "The Spanish intraday market design: A successful solution to balance renewable generation?," Renewable Energy, Elsevier, vol. 74(C), pages 422-432.

    More about this item

    Keywords

    mercado intradiario; precios horarios; datos de panel ; Intraday Market; Hourly Prices; Panel Data.;

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • L97 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Utilities: General
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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