April2024OIESPaper:EL53HedgingandTailRiskinElectricityMarketsFarhadBillimoria,VisitingResearchFellow,OIES,andDirector,SPGlobalPowerMarketsJacobMays,AssistantProfessor,CornellUniversityRahmatallahPoudineh,HeadofElectricityResearch,OIESiiThecontentsofthispaperaretheauthors’soleresponsibility.TheydonotnecessarilyrepresenttheviewsoftheOxfordInstituteforEnergyStudiesoranyofitsMembers.Thecontentsoft...