Domagoj Vulin, Maja Arnaut, Lucija Jukić, Daria Karasalihović Sedlar
Faculty of Mining, Geology and Petroleum Engineering, Pierottijeva 6, p.p. 390, 10000 Zagreb, Croatia


3rd International Scientific Conference – EMAN 2019 – Economics and Management: How to Cope With Disrupted Times, Ljubljana – Slovenia, March 28, 2019, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; Faculty of Management Koper, Slovenia; Doba Business School – Maribor, Slovenia; Integrated Business Faculty –  Skopje, Macedonia; Faculty of Management – Zajecar, Serbia, ISBN 978-86-80194-17-2, ISSN 2683-4510


Prices of electricity, oil, and gas are analyzed by terms of statistical distribution of price change and volatility of price change. The best time window was determined to determine signal of price change in such manner that the change of one parameter (i.e. price) precedes the change of the other with the expected time delay. Student’s distribution has shown good matching with price changes. EUA price is shows great variations, and strongly depends on the period. Back-loading of EUA prices issued by European Commission caused extreme drift in price making prediction of feasibility of longterm investments in Carbon Capture (Utilization) And Storage extremely unreliable.


energy price volatility, EU ETS, EUA prices, CCS, long-term investments, oil and gas industry.


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