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Risk Management in Electricity Markets: Dominant Topics and Research Trends

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  • Adriana A. Londoño

    (Facultad de Minas, Universidad Nacional de Colombia, Medellín 050036, Colombia
    Escuela de Economía, Administración y Negocios, Universidad Pontificia Bolivariana, Medellín 050031, Colombia)

  • Juan D. Velásquez

    (Departamento de Ciencias de la Computación y la Decisión, Universidad Nacional de Colombia, Medellín 050036, Colombia)

Abstract

Risk management in electricity markets is essential for decision making that involve uncertainty. This article researches the dominant themes and research trends in risk management in electricity markets using descriptive analysis, literature mapping, and data mining techniques. The proposed methodology generates the clusters within the dominant themes and provides a comprehensive view of the main authors, journals, and publications, as well as the main lines of research. The results reveal that the academic production of the subject is increasing and the research trends focused on financial risk management, energy resource management, and that climate coverage mechanisms are of great interest to the scientific community.

Suggested Citation

  • Adriana A. Londoño & Juan D. Velásquez, 2023. "Risk Management in Electricity Markets: Dominant Topics and Research Trends," Risks, MDPI, vol. 11(7), pages 1-13, June.
    • Handle: RePEc:gam:jrisks:v:11:y:2023:i:7:p:116-:d:1176522
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    References listed on IDEAS

    as
    1. Hendrik Bessembinder & Michael L. Lemmon, 2002. "Equilibrium Pricing and Optimal Hedging in Electricity Forward Markets," Journal of Finance, American Finance Association, vol. 57(3), pages 1347-1382, June.
    2. Fred Espen Benth & Hanna Zdanowicz, 2016. "Pricing And Hedging Of Energy Spread Options And Volatility Modulated Volterra Processes," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 19(01), pages 1-22, February.
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