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40 J. Energy & Dev. 149 (2014-2015)
Hydro Reservoir Levels and Power Price Dynamics: Empirical Insight on the Nonlinear Influence of Fuel and Emission Cost on Nord Pool Day-Ahead Electricity Prices

handle is hein.journals/jeldv40 and id is 153 raw text is: HYDRO RESERVOIR LEVELS AND POWER PRICE DYNAMICS: EMPIRICAL INSIGHT ON THE NONLINEAR INFLUENCE OF FUEL AND EMISSION COST ON NORD POOL DAY-AHEAD ELECTRICITY PRICES Ronald Huisman, David Michels, and Sjur Westgaard* Introduction Currently, the Nord Pool, which consists of the Scandinavian counties of Norway, Sweden, Finland, Denmark, and the Baltic States, is one of the world's largest, multinational, deregulated, and advanced power markets, with *Ronald Huisman, who earned his Ph.D. in international finance from Maastricht University, is an associate professor at the Erasmus School of Economics where he co-founded the Energy Finance Institute. He also is an affiliated researcher at the Institute of Economics of Barcelona (IEB) at the University of Barcelona. The author focuses his teaching and research activities on financial economics applied to energy markets. Additionally, he is a partner at Energy Global, an energy portfolio management advisory company. David Michels is a M.Sc. of financial economics and a M.Sc. of quantitative finance, both from the Erasmus School of Economics in Rotterdam. Majoring in energy finance led him to focus his research on financial economics within energy markets. Sjur Westgaard is Professor at the Norwegian University of Science and Technology, Department of Industrial Economics and Technology Management, and an Adjunct Professor at the NMBU School of Economics and Business - Center for Commodity Market Analysis. The author holds a M.Sc. and Ph.D. in industrial economics from the Norwegian University of Science and Technology and a M.Sc. of finance from the Norwegian School of Business and Economics. He has worked as an investment portfolio manager for an insurance company, a project manager for a consultant firm, and as a credit analyst for an international bank. Dr. Westgaard's teaching involves corporate finance, derivatives and real options, empirical finance, and financial risk management. His main research interests are within risk modeling of commodity markets. The Journal of Energy and Development, Vol. 40, Nos. 1 and 2 Copyright © 2015 by the International Research Center for Energy and Economic Development (ICEED). All rights reserved. 149