The effect of intermittent renewable supply on the forward premium in German electricity markets:
Renewable energy such as wind or solar power currently contributes a large share to the total German electricity supply as a result of the German energy transition. This paper presents an empirical analysis of how power shocks resulting from intermittent renewable supply affect forward premiums in G...
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| Main Author: | |
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
Oldenburg
Department of Economics, University of Oldenburg
November 2016
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| Series: | Oldenburg discussion papers in economics
V-397-16 |
| Online Access: | Volltext |
| Summary: | Renewable energy such as wind or solar power currently contributes a large share to the total German electricity supply as a result of the German energy transition. This paper presents an empirical analysis of how power shocks resulting from intermittent renewable supply affect forward premiums in German electricity markets. We contribute to the existing literature by investigating determinants of forward premiums, thereby focusing on wind and on solar power. We find positive wind shock effects on forward premiums. This can be explained as a consequence of the merit order effect. The findings in this paper underline the need to introduce wind power futures at the EEX to reduce the risk mark-up for participants in forward markets. |
| Physical Description: | 1 Online-Ressource (44 Seiten) Illustrationen |
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| spelling | Paschen, Marius Verfasser aut The effect of intermittent renewable supply on the forward premium in German electricity markets Marius Paschen Oldenburg Department of Economics, University of Oldenburg November 2016 1 Online-Ressource (44 Seiten) Illustrationen txt rdacontent c rdamedia cr rdacarrier Oldenburg discussion papers in economics V-397-16 Renewable energy such as wind or solar power currently contributes a large share to the total German electricity supply as a result of the German energy transition. This paper presents an empirical analysis of how power shocks resulting from intermittent renewable supply affect forward premiums in German electricity markets. We contribute to the existing literature by investigating determinants of forward premiums, thereby focusing on wind and on solar power. We find positive wind shock effects on forward premiums. This can be explained as a consequence of the merit order effect. The findings in this paper underline the need to introduce wind power futures at the EEX to reduce the risk mark-up for participants in forward markets. Oldenburg discussion papers in economics V-397-16 (DE-604)BV039810434 397 http://www.uni-oldenburg.de/fileadmin/user_upload/wire/fachgebiete/vwl/V-397-16.pdf Verlag kostenfrei Volltext |
| spellingShingle | Paschen, Marius The effect of intermittent renewable supply on the forward premium in German electricity markets Oldenburg discussion papers in economics |
| title | The effect of intermittent renewable supply on the forward premium in German electricity markets |
| title_auth | The effect of intermittent renewable supply on the forward premium in German electricity markets |
| title_exact_search | The effect of intermittent renewable supply on the forward premium in German electricity markets |
| title_full | The effect of intermittent renewable supply on the forward premium in German electricity markets Marius Paschen |
| title_fullStr | The effect of intermittent renewable supply on the forward premium in German electricity markets Marius Paschen |
| title_full_unstemmed | The effect of intermittent renewable supply on the forward premium in German electricity markets Marius Paschen |
| title_short | The effect of intermittent renewable supply on the forward premium in German electricity markets |
| title_sort | the effect of intermittent renewable supply on the forward premium in german electricity markets |
| url | http://www.uni-oldenburg.de/fileadmin/user_upload/wire/fachgebiete/vwl/V-397-16.pdf |
| volume_link | (DE-604)BV039810434 |
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