In the first chapter, we provide a thorough systematic overview of electricity price forecasting
accuracy for the major contemporary forecasting algorithms. Forecasting performance is
assessed based on the evidence from the Greek & Hungarian Power Market simulation. In the second chapter, we research the impact of market coupling on electricity markets. To do
so, we propose a simulation framework that replicates day-ahead power exchange operations.
Modelling coupled market areas consistently in one integrated framework is a specific
challenge and is frequently overlooked in the electricity market research. The market coupling
process is simulated at the junction of three regional power markets, namely the Central
Western Europe, the Northern Italian, and the South Eastern Europe markets. In the third chapter, we address the topic researchers pay the most attention in the context of
supported renewable generation, the so-called ‘merit order effect.’ We empirically confirm the
merit order effect in less mature and the yet unresearched Greek, Hungarian, and Romanian
electricity markets.
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