{"title":"Electricity trade at exchanges of the world: Contextual analysis of Indian electricity exchanges","authors":"Rajesh Gupta, Atulan Guha","doi":"10.1016/j.iimb.2024.10.002","DOIUrl":null,"url":null,"abstract":"<div><div>This study probes the relationship between price and traded volume in electricity exchanges worldwide. Deploying the generalised method of moments estimation on panel data from the day-ahead market of exchanges in 20 countries for the period 2015–2020, this study finds that an increase in the share of exchange-traded electricity in a country's total electricity consumption significantly reduces the price. A critical analysis of the Indian electricity exchanges in this study reveals that even after 13 years of operations, consumers do not derive surplus which is expected from commodity exchanges.</div></div>","PeriodicalId":46337,"journal":{"name":"IIMB Management Review","volume":"36 4","pages":"Pages 340-352"},"PeriodicalIF":1.7000,"publicationDate":"2024-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"IIMB Management Review","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0970389624001381","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"MANAGEMENT","Score":null,"Total":0}
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Abstract
This study probes the relationship between price and traded volume in electricity exchanges worldwide. Deploying the generalised method of moments estimation on panel data from the day-ahead market of exchanges in 20 countries for the period 2015–2020, this study finds that an increase in the share of exchange-traded electricity in a country's total electricity consumption significantly reduces the price. A critical analysis of the Indian electricity exchanges in this study reveals that even after 13 years of operations, consumers do not derive surplus which is expected from commodity exchanges.
期刊介绍：
IIMB Management Review (IMR) is a quarterly journal brought out by the Indian Institute of Management Bangalore. Addressed to management practitioners, researchers and academics, IMR aims to engage rigorously with practices, concepts and ideas in the field of management, with an emphasis on providing managerial insights, in a reader friendly format. To this end IMR invites manuscripts that provide novel managerial insights in any of the core business functions. The manuscript should be rigorous, that is, the findings should be supported by either empirical data or a well-justified theoretical model, and well written. While these two requirements are necessary for acceptance, they do not guarantee acceptance. The sole criterion for publication is contribution to the extant management literature.Although all manuscripts are welcome, our special emphasis is on papers that focus on emerging economies throughout the world. Such papers may either improve our understanding of markets in such economies through novel analyses or build models by taking into account the special characteristics of such economies to provide guidance to managers.
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