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Title: Aggregating or diversifying risk: Transmission flows and prices between two wind power areas Authors:  Johannes Mauritzen - BI Norwegian Business School (Norway) [presenting]
Abstract: Denmark was an early leader in building out wind power and could typically export to its neighbours in periods of excess and import in periods of shortage. However, Sweden has dramatically increased its wind power capacity. We use a multilevel time series model estimated by Bayesian MCMC to explore whether the risk and volatility from intermittent generations tends to aggregate or diversifies when it is spread spatially.