Abstract
The deregulation of electric power industries is introducing around the world and electric power markets are operated under the deregulation. Also in Japan, JEPX (Japan Electric Power Exchange) operates a day-ahead market since April 2005. We have already analyzed the electric power market prices in the several markets including JEPX by autoregressive models. We compose simple regression equations, of which a dependent variable is the market price and explanatory variables are the demand and the market price of 24 hours ago. In this paper, we analyze JEPX price data in summer seasons from 2007 to 2013. In this period, the JEPX price is affected by many social phenomena such as Lehman Shock and East Japan earthquake disasters. We compare the determination coefficient and the coefficients of regression and investigate the change of coefficients over the years.
Highlights
The deregulation of electric power industries is progressing around the world
In order to analyze the prices in electric power markets, we compose a simple regression equation of which a dependent variable is the market price and explanatory variables are the demand and the market price of 24 hours ago
Augmented Dickey-Fuller (ADF) test can check the serial correlation in the error term
Summary
The deregulation of electric power industries is progressing around the world. Many electric power markets are operated under the deregulated circumstances. The electric power price in the deregulated California market has analyzed by the regression model [1]. We have been analyzing electric power prices by the regression equations in markets such as California, New England, and so on [2] [3]. In order to analyze the prices in electric power markets, we compose a simple regression equation of which a dependent variable is the market price and explanatory variables are the demand and the market price of 24 hours ago. (2014) Regression Analysis of Electric Power Market Price of JEPX. Since April 2005, JEPX (Japan Electric Power Exchange) [4] opens a day-ahead market when the deregulation in retail sector is expanded to the customers over 50 kW. Autoregressive models of every year are compared and the change of the price structure is investigated over the years
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