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Comparing Iranian and Spanish Electricity Markets with Nonlinear Time Series

Year 2017, Volume: 7 Issue: 2, 262 - 286, 01.06.2017

Hajar Nasrazadani Maria Pilar Muñoz Gracia

https://izlik.org/JA75XF78CS

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

Time series forecasting elecricity market Spain Iran

Year 2017, Volume: 7 Issue: 2, 262 - 286, 01.06.2017

Hajar Nasrazadani Maria Pilar Muñoz Gracia

https://izlik.org/JA75XF78CS

Abstract

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Details

Other ID JA32SS64JU
Authors

Hajar Nasrazadani This is me

Maria Pilar Muñoz Gracia This is me

Publication Date June 1, 2017
IZ https://izlik.org/JA75XF78CS
Published in Issue Year 2017 Volume: 7 Issue: 2

Cite

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