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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/22019
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dc.contributor.authorDaskalakis, Georgeen_UK
dc.contributor.authorSymeonidis, Lazarosen_UK
dc.contributor.authorMarkellos, Raphaelen_UK
dc.date.accessioned2015-08-12T23:11:55Z-
dc.date.available2015-08-12T23:11:55Z-
dc.date.issued2015-07en_UK
dc.identifier.urihttp://hdl.handle.net/1893/22019-
dc.description.abstractWe investigate the economic factors that drive electricity risk premia in the European emissions constrained economy. Our analysis is undertaken for monthly baseload electricity futures for delivery in the Nordic, French and British power markets. We find that electricity risk premia are significantly related to the volatility of electricity spot prices, demand and revenues, and the price volatility of the carbon dioxide (CO2) futures traded under the EU Emissions Trading Scheme (EU ETS). This finding has significant implications for the pricing of electricity futures since it highlights for the first time the role of carbon market uncertainties as a main determinant of the relationship between spot and futures electricity prices in Europe. Our results also suggest that for the electricity markets under scrutiny futures prices are determined rationally by risk-averse economic agents.en_UK
dc.language.isoenen_UK
dc.publisherInternational Association for Energy Economicsen_UK
dc.relationDaskalakis G, Symeonidis L & Markellos R (2015) Electricity Futures Prices in an Emissions Constrained Economy: Evidence from European Power Markets. Energy Journal, 36 (3), pp. 1-33. https://doi.org/10.5547/01956574.36.3.gdasen_UK
dc.rightsThe publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.en_UK
dc.rights.urihttp://www.rioxx.net/licenses/under-embargo-all-rights-reserveden_UK
dc.subjectElectricity futuresen_UK
dc.subjectFutures pricingen_UK
dc.subjectRisk premiumen_UK
dc.subjectEconomic driversen_UK
dc.subjectemission allowancesen_UK
dc.titleElectricity Futures Prices in an Emissions Constrained Economy: Evidence from European Power Marketsen_UK
dc.typeJournal Articleen_UK
dc.rights.embargodate3000-01-01en_UK
dc.rights.embargoreason[Dakalakis et al_Energy Journal_2015.pdf] The publisher does not allow this work to be made publicly available in this Repository therefore there is an embargo on the full text of the work.en_UK
dc.identifier.doi10.5547/01956574.36.3.gdasen_UK
dc.citation.jtitleEnergy Journalen_UK
dc.citation.issn1944-9089en_UK
dc.citation.issn0195-6574en_UK
dc.citation.volume36en_UK
dc.citation.issue3en_UK
dc.citation.spage1en_UK
dc.citation.epage33en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusVoR - Version of Recorden_UK
dc.author.emaillazaros.symeonidis@stir.ac.uken_UK
dc.contributor.affiliationUniversity of East Angliaen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.contributor.affiliationUniversity of East Angliaen_UK
dc.identifier.isiWOS:000356466100001en_UK
dc.identifier.scopusid2-s2.0-84937579109en_UK
dc.identifier.wtid621477en_UK
dcterms.dateAccepted2015-07-31en_UK
dc.date.filedepositdate2015-07-10en_UK
rioxxterms.apcnot requireden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionVoRen_UK
local.rioxx.authorDaskalakis, George|en_UK
local.rioxx.authorSymeonidis, Lazaros|en_UK
local.rioxx.authorMarkellos, Raphael|en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate3000-01-01en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||en_UK
local.rioxx.filenameDakalakis et al_Energy Journal_2015.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source0195-6574en_UK
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