Arbeitspapier
The Power of Weather. Some Empirical Evidence on Predicting Day-Ahead Power Prices Through Weather Forecasts
This 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.
- ISBN
-
978-82-7553-439-0
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2008/8
- Klassifikation
-
Wirtschaft
Forecasting Models; Simulation Methods
International Financial Markets
Energy: General
- Thema
-
GARCH models
electricity prices
forecasting
weather forecasts
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Huurman, Christian
Ravazzolo, Francesco
Zhou, Chen
- Ereignis
-
Veröffentlichung
- (wer)
-
Norges Bank
- (wo)
-
Oslo
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Huurman, Christian
- Ravazzolo, Francesco
- Zhou, Chen
- Norges Bank
Entstanden
- 2008
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