Negative prices on power exchanges: empirical findings from Germany

Crawford School of Public Policy | Centre for Applied Macroeconomic Analysis

Event details


Date & time

Wednesday 28 March 2018


Seminar Room 3, Level 1, JG Crawford Building 132, Lennox Crossing, ANU


Benjamin Aust, Technical University of Freiberg, Germany.


Rossana Bastos Pinto
61 2 6125 8108

In this seminar Benjamin Aust will provide an overview of his recent paper, Negative Prices on Power Exchanges - Empirical Findings from Germany.

While Germany is the largest energy exchange country in Europe, the occurrence of negative market prices represents an unusual and serious phenomenon for traders. Benjamin’s paper investigates drivers of negative energy prices in Germany and runs regressions to examine negative price indicators using a sample of hourly-based data over the period of 2012-2016. The empirical results found by the author prove the (im)possibility of forecasting negative day-ahead prices, whereas interestingly, the estimation of the trading volumes supports the underlying negative price factors.

Benjamin Aust is a PhD candidate at Technical University of Freiberg, Germany, since July 2015 and his research focuses on renewable energy and power exchanges, and e-mobility and energy market regulation. He holds a Bachelor degree in Business Administration and Master degree in Energy and Resource Management both from Technical University of Freiberg.

The CAMA Macroeconomics Brown Bag Seminars offer CAMA speakers, in particular PhD students, an opportunity to present their work in progress in front of their peers, and reputable visitors to showcase their work.

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