Time series comparisons with application to electricity market

The problem addressed in this paper concerns the comparison between countries with low and high consumption of renewable energy, in terms of electricity prices for household consumers. The goal is to test the hypothesis that in the former the price of electricity is higher than in the latter. For this purpose, we want to compare the time series of half-yearly prices for the last five years of a sample of countries in the first group and a sample of countries in the second. The proposed solution concerns the use of a Combined Permutation Test (CPT). The application of this method to real data provides empirical evidence that contributes to the literature about trends and comparative assessments of electricity prices in Europe from a renewable energy perspective.