Avui, dilluns 8 de juny, el Dipòsit Digital no estarà operatiu de 15:00 a 17:00 h per tasques de manteniment. Disculpeu les molèsties.
Hoy, lunes 8 de junio, el Dipòsit Digital no estará operativo de 15:00 a 17:00 h debido a tareas de mantenimiento. Disculpen las molestias.
Today, Monday, Jun 8th, the Digital Repository will be unavailable due to a system update.

Files

862606.pdf (28.38 MB)

Document type

Article

Version

Accepted version

Publication date

2024-01-01

Publication license

cc-by-nc-nd (c) Elsevier B.V., 2024
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/218678

Vulnerability of European Electricity Markets: A Quantile Connectedness Approach

Journal Title

Authors

Director/Tutor

Journal ISSN

Volume Title

Related resource

https://doi.org/https://doi.org/10.1016/j.enpol.2023.113862

Abstract

The most recent increases in Gas and Electricity prices across Europe dramatically demonstrate how vulnerable we still are to supply shocks. We investigate the transmission of shocks from natural gas prices to local electricity prices in 21 European markets. Using a quantile connectedness model our results reveal that the vulnerability of electricity markets in Europe varies over time and across quantiles. Our findings show that natural gas shocks have a significant and nearly symmetrical impact on extreme quantiles of electricity price returns. However, for intermediate quantiles, there is a notable disconnection between electricity markets and the natural gas market. We also identify the electricity markets that are most and least vulnerable to shocks in natural gas prices. These results have implications for the development of regulations and energy policies aimed at reducing the reliance on natural gas in European economies and promoting the growth of renewable energy sources.

Subject

Pobresa, Política de preus, Enginyeria elèctrica, Vulnerabilitat (Dret)

Subject (English)

Poverty, Prices policy, Electric engineering, Vulnerability (Law)

Citation

Collections

Articles publicats en revistes (Econometria, Estadística i Economia Aplicada)
Articles publicats en revistes (Ciència Política, Dret Constitucional i Filosofia del Dret)

Citation

CHULIÁ SOLER, Helena, et al. Vulnerability of European Electricity Markets: A Quantile Connectedness Approach. Energy Policy. 2024. Vol. 184, num. January, pags. 1-18. ISSN 0301-4215. [consulted: 8 of June of 2026]. Available at: https://hdl.handle.net/2445/218678

Export metadata

JSON - METS

Share record