Hobæk Haff, Ingrid; Lindqvist, Ola; Løland, Anders - In: Energy Economics 30 (2008) 5, pp. 2420-2440
This report investigates the UK natural gas market, and tests whether it is a fair-game efficient forward market, using forward contracts ranging from one to five months time to delivery. The forward and spot price series are separately non-stationary, but cointegrated. Furthermore, the forward...