Convergence of day-ahead and future prices in the context of European power market coupling: Historical analysis of spot and future electricity prices in Germany, France, Netherlands and Belgium

Since November 2010, the French, Belgian, German and Dutch electricity markets are sharing a common mechanism for Day Ahead price formation called “Market Coupling”. This implicit auctioning system for cross border flows management is part of a regional market integration policy which constitutes an intermediary step toward fully integrated European markets. Within a few years, power markets had evolved a lot, and faced many changes (completion of the deregulation process, renewable integration, …). They were also indirectly affected by the consequences of the Japanese nuclear catastrophe in 2... Mehr ...