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The Power of Weather. Some Empirical Evidence on Predicting Day-Ahead Power Prices Through Weather Forecasts

dc.contributor.authorHuurman, Christian
dc.contributor.authorRavazzolo, Francesco
dc.contributor.authorZhou, Chen
dc.date.accessioned2018-05-09T11:06:05Z
dc.date.available2018-05-09T11:06:05Z
dc.date.issued2008
dc.identifier.isbn978-82-7553-438-3
dc.identifier.isbn978-82-7553-439-0
dc.identifier.issn0801-2504
dc.identifier.issn1502-8143
dc.identifier.urihttp://hdl.handle.net/11250/2497777
dc.description.abstractThis paper examines the predictive power of weather for electricity prices in day-ahead markets in real time. We find that next-day weather forecasts improve the forecast accuracy of day-ahead electricity prices substantially, suggesting that weather forecasts can price the weather premium. Moreover, we find that the predictive power of weather forecasts for electricity prices can be further exploited by allowing for non-linear effects of the weather forecasts.nb_NO
dc.language.isoengnb_NO
dc.publisherNorges Banknb_NO
dc.relation.ispartofseriesWorking Papers;8/2008
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.no*
dc.subjectJEL: C53nb_NO
dc.subjectJEL: G15nb_NO
dc.subjectJEL: Q40nb_NO
dc.subjectGARCH modelsnb_NO
dc.subjectelectricity pricesnb_NO
dc.subjectforecastingnb_NO
dc.subjectweather forecastsnb_NO
dc.titleThe Power of Weather. Some Empirical Evidence on Predicting Day-Ahead Power Prices Through Weather Forecastsnb_NO
dc.typeWorking papernb_NO
dc.description.versionpublishedVersionnb_NO
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212nb_NO
dc.source.pagenumber28nb_NO


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Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
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