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https://doi.org/10.1007/978-3-540-25944-2_111

has been cited by the following article:

• TITLE: Price Spikes in the Italian Electricity Market: An Economic Analysis

  AUTHORS: Stefano Zedda, Giovanni Batista Masala

  KEYWORDS: Electricity Markets, Auctions, Bid and Offer, Price Spikes, Probit Model

  JOURNAL NAME: Modern Economy, Vol.10 No.9, September 29, 2019

  ABSTRACT: Since their liberalization, the electricity markets are characterized by a rather high volatility, which includes price spikes as one of the stylized and specific characteristics of this market. In this paper, we investigate the factors and mechanisms determining these spikes. Based on the Italian electricity market data, we perform a specific analysis of the auctions mechanisms and of the hourly bid and offer of electricity characteristics, for determining how and why do price spikes occur.