The relationship between the spot and futures electricity markets is key to understanding the functioning of the modern energy market; however, this connection is often volatile and changes over time. The main challenge lies in understanding how fundamental factors influence the relationship and price differences between the markets. In the thesis, analyse the connection between the two markets and the key factors that affect the volatility and predictability of price spreads between them, focusing on major European electricity markets such as Germany, France, Italy, and Hungary.
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