S/ Year of

No. Autor(s) Journal Title of article pub. Study area Data Objectives(s) Variables Methodology Findings
 Examining  Carbon emissi
An Analysis of the allowances wa
the decline of contribution the reason beh
 Bublitz, electricity in  Time of electricity the decline of
Keles & Europe: Who is  Germany Series spot prices  Price Drivers electricity spot
1 Fitchner Energy Policy to blame?  2017 and Sweden Data fall Decline   prices
2  Da Silva &  Renewable and  Assessing the  2017  European  Time  Assessing  Household  For Supply
Cerqueira Sustainable determinants of Union Series the main Electricity factors as
Energy Reviews the household Data drivers of and Sector expected, the
electricity price household Liberalizatio oil price has a
in the EU: a electricity in n significant on
system GMM- the European
electricity
panel data Union (EU)
approach throughout a prices as well
deep period the share of
of sector renewable
transformatio sources.
n In terms of
market
regulations w
should note th
gas emission
and the fact th
a country bein
an earlier or
later quitter o
the regulated
market do not
have any imp
on prices of
electricity. On
the contrary,
market
concentration
has a significa
positive impa
and
liberalization
 has a
significant
negative impa
on prices.
 As an
implication, th
findings confir
the contributio
of renewable
energy incentiv
mechanism, an
believes that th
renewable ener
will help balan
the energy
demand and he
balance the
energy
equilibrium in
future.
Although
renewable ener
generators hav
been helping w
the electricity
demand, energ
demand are sti
big issues.
From the
perspective of
 Determinants  Assessing policy makers,
of price the impact of developing EES
fluctuations in negative and upgrading t
the electricity pricing and transmission
 Economic market: a study spike pricing capacity should
Research – with PCA and  Pennsylvania  Cross on electricity the resolution to
 Li, Cursion, Ekonomska NARDL , New Jersey Sectional price  Price reduce the mark
3 Sun and Zhu Istrazivanja models  2019 and Maryland Data fluctuation fluctuation . price fluctuatio
4  Lopez and  Energy Policy  Drivers of  2019  Germany  Cross  Assessing  Spot and    In term of spo
Nursimulu electricity price Sectional the drivers of Futures market the
dynamics: Data electricity markets researchers fin
Comparative prices in spot out that
 determinant of
prices are
renewable infe
and demand,
while in the ca
of future mark
the main drive
are natural gas
coal and carbo
and futures prices and thei
markets effect on price
focusing on quite similar
analysis of spot the german across differen
and futures electricity delivery period
markets markets.
5  Zarnikau,  Energy  Determinants  2020  US  Time  Finding out  Day Ahead    This paper use
Tsai and of the wholesale Midcontinent Series the wholesale Market and regression-bas
Woo prices of energy Data price Real time approach on a
and ancillary behavior of Market newly develop
services energy and sample of 35,3
in the U.S. ancillary hourly
Midcontinent services (AS) observations
electricity in the day- from 12/19/201
market ahead to 12/30/2017
market show that the
(DAM) and regional Day
real-time ahead market
market energy prices o
(RTM) the Midcontine
Independent
System Operat
increase with t
Day ahead
forecasts of
natural gas pric
regional loads,
required AS
quantities, and
PJM's DAM
energy price at
Midcontinent
Independent
 System Operat
interface, but
these Daily ahe
market energy
prices decrease
with the Day
ahead forecasts
of the regional
loads.
 The purpose
of the review
was to
determine the
likelihood
that Time of
Use will be
 Consumer adopted by
demand for domestic
time of use energy
electricity customers
tariffs: A  US, UK, and what
systematized Australia, factors will
 Nicolson,  Renewable and review Netherlands, affect this
Fell and Sustainable of the empirical France and  Panel adoption.
6 Huebner Energy Reviews evidence  2018 Norway Data      
 Electricity
price driven
active
distribution
network
planning
considering
 Jiao, Chen,  Electrical Power uncertain wind
Qi, Zhao and Energy power and
7 and Peng System electricity price  2019            
8 Katarzyna International  Fundamental  2014  UK  Panel  The purpose  Fundamental    The results
Maciejowsk Conference on and speculative Data of the article price shocks indicate that no
a the European shocks, what is to examine and all fundamenta
Energy Market drives the UK Speculative shocks have a
EEM electricity electricity price shocks contemporaneo
prices? market and effect on
 break down
the structural
innovations
from the
inaccurate electricity pric
power price There is no
forecasts. evidence that
respond
There are
instantaneously
four to unexpected
identified changes in gas
shocks: three price. The
fundamental findings confir
(wind that there are
generation, significant
demand, and differences in
gas price) and price setting
one mechanism
speculative. between the pe
and off-peak
hours.
  The impact of
electricity
tariffs on
residential
demand
 Hayn, side flexibility:
Zander, results of
Fitchner, bottom-up load
Nickel and profile
9 Bertsch  Applied Energy modeling  2018  Germany          
10  Jamil and Energy Policy   Income and  2011  Pakistan  Time   The main   price of     Johansen’s
Ahmad price elasticities Series objective of diesel oil and approach
of electricity Data this paper is capital stock provides the
demand to empirically evidence of on
Aggregate and analyze the co integrating
Sector wise electricity relationship in
analyses demand in the five model
Pakistan The long-run
during the income elastici
period 1961– estimates indic
2008 using that electricity
 demand is
responsive to r
economic activ
at aggregate an
sectoral levels.
The elasticity o
electricity
demand with
respect to price
also higher tha
one in all cases
except
agricultural
sector. The lon
run electricity
annual demand is pric
aggregate and inelastic in
sector-wise agricultural
data for sector due to
residential, highly subsidiz
commercial, nature of
manufacturin agricultural tar
g and rate for this
agricultural particular secto
sectors. in Pakistan
  Unit cost of
electricity in
Nigeria: A cost
model for
captive diesel
 Oladokun  Renewable and powered
and Sustainable generating
11 Asemota Energy Reviews system  2015  Nigeria          
12  Raviv,  Energy  Forecasting  2015  Norway, Panel  The aim of  Hourly price    In this paper, t
Bouwman Economics day-ahead Sweden, Data this paper is and Daily researchers
and van electricity Finland, to average price present empiric
Dijk prices: Utilizing Denmark, demonstrates evidence
hourly prices Estonia and that the showing that, f
Lithuania disaggregated the purpose of
hourly prices forecasting the
contain useful daily average
predictive electricity pric
 it is beneficial
exploit the
information
embedded in th
panel of the
hourly price
series. This can
be done by
adopting a
information multidimensio
for the daily modeling
average price framework for
in the Nord the individual
Pool market. hourly prices.
 On-grid
electricity
tariffs in China:
Development,
reform and
13  Jinlong Ma  Energy Policy prospects  2011  China          
Uncover the
fundamental
and
behavioral
drivers
electricity Economic
Fundamental price over fundamentals
Studies in and Behavioral time and , strategic and
Nonlinear Drivers of  Cross across intra- market
Karakatsani Dynamics & Electricity Price  United Sectional day trading design
14 and Bunn Econometrics Volatility  2010 Kingdom Data periods. effects.    
15  Chen,  Multidisciplinary  Electricity  2021  Europe  Cross  This study  Direction of    This research
Balian, Digital Markets Sectional examines electricity found that the
Kyzym, Publishing Instability: Data the dispersion flows, and markets with
Salashenko, Institute Causes of Price of electricity structure of cheap electrici
Gryshova Dispersion prices in 40 electricity which are
and bidding zones generation assigned to
Khaustova in 26 Quartile 1 and
European Quartile 2,
countries by demonstrate a
means of higher variatio
quartile Whereas the
 markets with
expensive
electricity, whi
belong to
Quartile 3 and
Quartile 4,
demonstrate a
low variation.

The paper
assumes and
proves that the
dispersion of
electricity pric
in the Europea
space is
conditioned by
geographic
orientation of
national marke
analysis. The direction of
geographic electricity flow
orientation of and structure o
the markets, generation. As
direction of result of the
electricity study, the
flows, and dispersion of
structure of electricity pric
electricity was determine
generation are both for each o
considered as the factors und
the causes of study and for t
this complex of the
dispersion factors.
16  Ciarreta,  Energy  Renewable  2020  Spain  Time  Analyze the  Feed in tariff    We find two
Irizar and Economics energy Series possible scheme and structural break
Zarraga regulation and Data ensuing Market which imply
structural structural oriented three phases.
breaks: An changes in regulations According
empirical Spanish to the price
analysis of electricity volatility of ea
Spanish spot price phase we can
 conclude that t
existence
of regulation
uncertainty is
related to the
period of price
instability
between 2012
and 2014, whic
meant greater
volatility
than in the othe
two phases.
Volatility
negatively affe
market agents
and forces them
to implement
volatility hedging
from January strategies to
2002 to protect the valu
electricity price December of
volatility 2017. their assets.
17  Ciarreta  Energy  Modeling  2016  Spain  Time  Find out how  Hourly    The estimated
and Zarraga Economics realized Series results are prices realized volatil
volatility on the Data driven by the fluctuations for the sample
Spanish market and Spanish period from
intra-day structure, the Intra-day 1.1.2002 to
electricity market electricity 12.31.2014
market design and prices. shows
the regulation considerable an
of renewable positive
generation transmissions
between sessio
with those from
the most recen
session being t
most significan
in terms of size
With sessions
celebrated on t
same day, the
 impacts' intens
is diminishing,
which is
consistent with
the declining
amount of pow
transferred.
18  Odeh and  Renewable and  Impacts of  2019  Chile  Cross  This paper  Effect of    Results point t
Watts Sustainable wind and solar Sectional studies the wind a considerable
Energy Reviews spatial Dats effects of diversificatio positive
diversification spatial n and Solar relationship
on its market diversificatio market value between spatia
value: A case n diversification
study of the and questions and the market
Chilean whether value of
electricity integration renewable
market policies are energy,
incentivizing particularly in
the placement situations with
of renewable active
generators transmission an
where they hydro-storage
provide the restrictions.
highest value Depending on
to the degree of
electricity diversification
system in and the system
Chile. spatial and
temporal limits
the value of the
wind market m
range up to
US$10/MWh.
Additionally,
given the prese
hydro reservoi
storage capacit
if there is
sufficient
transmission
capacity, the
market value f
 solar energy
might rise by
US$5/MWh
owing to
diversification
 In the short ru
Danish daily
price volatility
lower when the
is more wind
power
production,
whereas wind
power increase
the daily price
volatility in
Germany.
According to o
analyses, wind
 Estimating and solar powe
 Does the impact of  Impact of production hav
Renewable Variable variable statistically and
Energy renewable renewable economically
Generation energy energy significant effe
Decrease the generation on generation on on day-ahead
 Rintamaki, Volatility of  Time electricity electricity price volatility
Siddiqui and  Energy Electricity  Denmark Series price price Denmark and
19 Salo Economics Prices?  2016 and Germany Data volatility volatililty   Germany.
  The research
used time
series
analysis to
investigate
the issue of
 Wang, fluctuating
Gryshova,   Electricity power prices
Kyzym,   Price Instability in the DE-LU
Salashenko, Multidisciplinary over Time: bidding zone
Khaustova Digital Time Series  Time from October  Electricity
and Publishing Analysis  European Series 2018 to price
20 Shcherbata Institute and Forecasting  2022 Union Data March 2022. fluctuations    
21                    
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