EN
Comparing Iranian and Spanish Electricity Markets with Nonlinear Time Series
Abstract
Electricity market analysis is useful for accessing strategic market information in order to set energy policy. According to recent interpretations of the Article 44 of the Iranian Laws, the Iranian electricity market is to become a free market. Mechanisms that were implemented in the Spanish electricity market - a free market - provide a versatile benchmark to employ time series modeling approach to compare Iran and Spain’s electricity markets via price and load time series as two main indices. Here, we develop linear (ARMIA), heteroskedastic (ARMA-GARCH), and nonlinear time series models to model the Iranian/Spanish electricity market for price and load time series indices. We further utilize the conditional variance to propose the ARMA-TGARCH model as the best suited model for the Iranian electricity market price. We employ our models and time series analysis to forecast and question the status of the Iranian market structure as a free market
Keywords
Details
Primary Language
English
Subjects
-
Journal Section
-
Publication Date
June 1, 2017
Submission Date
June 1, 2017
Acceptance Date
-
Published in Issue
Year 2017 Volume: 7 Number: 2
APA
Nasrazadani, H., & Gracia, M. P. M. (2017). Comparing Iranian and Spanish Electricity Markets with Nonlinear Time Series. International Journal of Energy Economics and Policy, 7(2), 262-286. https://izlik.org/JA75XF78CS
AMA
1.Nasrazadani H, Gracia MPM. Comparing Iranian and Spanish Electricity Markets with Nonlinear Time Series. IJEEP. 2017;7(2):262-286. https://izlik.org/JA75XF78CS
Chicago
Nasrazadani, Hajar, and Maria Pilar Muñoz Gracia. 2017. “Comparing Iranian and Spanish Electricity Markets With Nonlinear Time Series”. International Journal of Energy Economics and Policy 7 (2): 262-86. https://izlik.org/JA75XF78CS.
EndNote
Nasrazadani H, Gracia MPM (June 1, 2017) Comparing Iranian and Spanish Electricity Markets with Nonlinear Time Series. International Journal of Energy Economics and Policy 7 2 262–286.
IEEE
[1]H. Nasrazadani and M. P. M. Gracia, “Comparing Iranian and Spanish Electricity Markets with Nonlinear Time Series”, IJEEP, vol. 7, no. 2, pp. 262–286, June 2017, [Online]. Available: https://izlik.org/JA75XF78CS
ISNAD
Nasrazadani, Hajar - Gracia, Maria Pilar Muñoz. “Comparing Iranian and Spanish Electricity Markets With Nonlinear Time Series”. International Journal of Energy Economics and Policy 7/2 (June 1, 2017): 262-286. https://izlik.org/JA75XF78CS.
JAMA
1.Nasrazadani H, Gracia MPM. Comparing Iranian and Spanish Electricity Markets with Nonlinear Time Series. IJEEP. 2017;7:262–286.
MLA
Nasrazadani, Hajar, and Maria Pilar Muñoz Gracia. “Comparing Iranian and Spanish Electricity Markets With Nonlinear Time Series”. International Journal of Energy Economics and Policy, vol. 7, no. 2, June 2017, pp. 262-86, https://izlik.org/JA75XF78CS.
Vancouver
1.Hajar Nasrazadani, Maria Pilar Muñoz Gracia. Comparing Iranian and Spanish Electricity Markets with Nonlinear Time Series. IJEEP [Internet]. 2017 Jun. 1;7(2):262-86. Available from: https://izlik.org/JA75XF78CS