Electricity interconnections have become increasingly common as a means of integrating electricity markets, expediting the exchange of electricity, and thereby creating balanced electricity systems. These interconnections also facilitate the incorporation of intermittent renewable energy sources, ensuring greater energy security and reliability in electricity markets. In this study, an assessment is made of the impact of both electricity produced from wind power, and the cross-border flow of electricity, on the mean and volatility of the day-ahead electricity price. To do this, we studied the Swedish bidding zone with the highest flow of electricity imports and exports between 2016 and 2019 – the SE3 bidding zone (BZ). Using a SARMAX/GARCH approach, every hour of the day was assessed individually, by estimating up to 24 different models from 1 January 2016 to 30 April 2020. The results confirm the Merit-Order Effect from wind power, and that its impact is similar in magnitude throughout the day. Furthermore, the flow of electricity from both import and export appear to increase the day-ahead electricity price. This study also suggests that the volatility of electricity prices is primarily increased by unexpected shocks. This may be related to the high dependence of the SE3 BZ electricity system on electricity imports, which makes the system extremely susceptible to larger transmission of shocks.

电力互连作为整合电力市场、加快电力交换并由此创建平衡电力系统的一种手段，已变得越来越普遍。这些互连还促进了间歇性可再生能源的整合，确保电力市场的能源安全和可靠性更高。在本研究中，评估了风力发电和跨境电力流动对日前电价均值和波动性的影响。为此，我们研究了 2016 年至 2019 年间电力进出口流量最高的瑞典竞标区——SE3 竞标区 (BZ)。使用 SARMAX/GARCH 方法，对一天中的每一小时进行单独评估，通过估计 2016 年 1 月 1 日至 2020 年 4 月 30 日期间多达 24 个不同的模型。结果证实了风力发电的优序效应，并且其影响在全天的大小上相似。此外，进出口电力的流动似乎提高了日前电价。这项研究还表明，电价的波动主要是由意外冲击造成的。这可能与 SE3 BZ 电力系统对电力进口的高度依赖有关，这使得该系统极易受到较大的冲击传输。进出口电力的流动似乎提高了日前电价。这项研究还表明，电价的波动主要是由意外冲击造成的。这可能与 SE3 BZ 电力系统对电力进口的高度依赖有关，这使得该系统极易受到较大的冲击传输。进出口电力的流动似乎提高了日前电价。这项研究还表明，电价的波动主要是由意外冲击造成的。这可能与 SE3 BZ 电力系统对电力进口的高度依赖有关，这使得该系统极易受到较大的冲击传输。