Business: Theory and Practice 13(2): 122-131, doi: 10.3846/btp.2012.13
Analysis of Features of Power Market Price: Lithuanian Case
expand article infoViktorija Bobinaitė, Aldona Juozapavičienė
Open Access
Abstract

Generalized world experience and summary of scientific literature on the issue of power market price features have been presented in the paper; indicators for evaluation of these features have been offered as well and the analysis of price characteristics in Lithuanian power exchange has been performed. The following methods have been employed – scientific literature analysis and generalization and statistical analysis methods. The main features of power market price and factors influencing them have been determined in the theoretical part of the paper. Indicators which enable to evaluate the features of power market price have been proposed in the methodological part of the paper. The analysis has shown that power market price was volatile in Lithuania. In winter when thermal power plants operated in the market, power market price tended to increase, but its volatility decreased. In spring, when cheap import was available, power market price tended to reduce, but its volatility increased. Power market price was the most volatile and highest in summer. During this season price spikes often formed. Price spikes in summer took 2.64% of all time analyzed.

Keywords
electricity (power); wholesale market; price; descriptive statistics; volatility; price spike