A paper co-authored by GSAIS student Rassi Samin and Associate Professor Takashi Kanamura has been published in Energy Policy (Elsevier).

A paper titled “Electricity price spike formation and LNG price effect under gross bidding scheme in JEPX”, which analyzes the price spike in 2021 in the Japanese electricity market (JEPX), has been published in Energy Policy (Elsevier).
The empirical analysis shows that the proposed model can appropriately capture the electricity price spike in the JEPX market in January 2021 and that the LNG spot price shifts the electricity price curve upward. Energy policy implications from this study include: Managing the risk of electricity price spikes should consider the LNG effect on the bidding behavior of market players rather than the marginal cost of the supply curve; Trends in LNG spot prices, rather than LNG prices a few months ago, should be considered in the institutional design of the JEPX market.

Link
https://www.sciencedirect.com/science/article/abs/pii/S0301421523001374
https://doi.org/10.1016/j.enpol.2023.113552