Novel econometric techniques for modelling and forecasting electricity prices and price volatility in Australia.

价格波动，特别是价格飙升，对电力零售商来说特别重要，因为零售价格监管，他们无法将其传递给最终客户并最终承担价格风险。虽然州政府可能会与零售商达成赔偿协议，但了解这些价格飙升的原因和时间以及一旦发生，它们将持续多久对双方都很有意义。更好地了解电价过程将有助于制定更复杂的计划和策略，以对冲不利、意外或极端的价格事件。

Price volatility, particularly price spikes, are of special importance to electricity retailers who, because of retail price regulation, cannot pass them onto final customers and end up bearing the price risk. While state governments may enter into compensation deals with retailers, it is of great interest to both parties to understand why and when these price surges occur and, once they have occurred, how long they will last. A better understanding of the electricity price process will enable more sophisticated plans and strategies to be put in place to hedge against unfavourable, unexpected or extreme price events.