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@ARTICLE{Trebbien:1029013,
      author       = {Trebbien, Julius and Tausendfreund, Anton and Rydin
                      Gorjão, Leonardo and Witthaut, Dirk},
      title        = {{P}atterns and correlations in {E}uropean electricity
                      prices},
      journal      = {Chaos},
      volume       = {34},
      number       = {7},
      issn         = {1527-2443},
      address      = {Woodbury, NY},
      publisher    = {American Institute of Physics},
      reportid     = {FZJ-2024-04931},
      pages        = {073108},
      year         = {2024},
      abstract     = {Electricity markets are central to the coordination of
                      power generation and demand. The European power system is
                      divided into several bidding zones, each having an
                      individual electricity market price. While individual price
                      time series have been intensively studied in recent years,
                      spatiotemporal aspects have received little attention. This
                      article provides a comprehensive data-centric analysis of
                      the patterns and correlations of the European day-ahead
                      electricity prices between 2019 and 2023, characteristically
                      abnormal due to the energy crisis in Europe. We identify the
                      dominant communities of bidding zones and show that spatial
                      differences can be described with very few principal
                      components. Most bidding zones in Continental Europe were
                      brought together during the energy crisis: Correlations
                      increased, and the number of relevant principal components
                      decreased. Opposite effects occur in the Nordic countries
                      and the Iberian Peninsula where correlations decrease and
                      communities fragment.},
      cin          = {ICE-1},
      ddc          = {530},
      cid          = {I:(DE-Juel1)ICE-1-20170217},
      pnm          = {1121 - Digitalization and Systems Technology for
                      Flexibility Solutions (POF4-112)},
      pid          = {G:(DE-HGF)POF4-1121},
      typ          = {PUB:(DE-HGF)16},
      pubmed       = {38954465},
      UT           = {WOS:001262279300003},
      doi          = {10.1063/5.0201734},
      url          = {https://juser.fz-juelich.de/record/1029013},
}