The Nordic power exchange : analysis of the market efficiency

dc.contributor.author	Salmi, Eya
dc.date.accessioned	2010-08-20T06:52:46Z
dc.date.available	2010-08-20T06:52:46Z
dc.date.issued	2010
dc.identifier.uri	http://hdl.handle.net/11250/168613
dc.description.abstract	The aim of this thesis is to examine the market efficiency of the Nordic power exchange by analysing the electricity market, its structure and the pricing mechanisms. An empirical analysis of Nord Pool is carried during the recent period to investigate the predictability of electricity prices using the futures market. We have based our analysis on a traditional theory of futures pricing i.e. the storage theory. The limits of applying the cost of carry hypothesis on electricity markets are presented. In addition, the market efficiency is tested using modern econometrical tools such the cointegration technique and the Error Correction Model (ECM).	en
dc.language.iso	eng	en
dc.title	The Nordic power exchange : analysis of the market efficiency	en
dc.type	Master thesis	en
dc.subject.nsi	VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212	en