Econometric analysis of wholesale electricity markets

Wholesale electricity markets have been of academic interest, particularly in response to privatisation of electricity markets around the world. The overarching theme of the thesis is that any improvements to the efficiency of pricing in electricity markets can have potential benefits to the population at large. This thesis examines some economic quantities in the German wholesale electricity market and the econometric techniques involved in their analysis. The methods employed in this thesis are relatively simple, but all show improvements over existing approaches. These findings suggest that improved understanding of electricity markets need not be associated with high levels of complexity.