In this paper, we develop the game-theoretic electricity market model ElStorM that includes the possibility of strategic electricity storage. We apply the model to the German electricity market and analyze different realistic and counterfactual cases of strategic and non-strategic pumped hydro...

In this paper, we use a computable general equilibrium model (WIATEC) to study the potential impact of implementing Europe's 20-20-20 climate policy. The results show that the economic costs of implementing the policy are only moderate and within the range of recent empirical evidence....

The increased wind energy supplied to many electricity markets around the world has to be balanced by reliable back upunits or other complementary measures when wind conditions are low. At the same time wind energy impacts both, the utilization of thermal power plants and the market prices....

Seeking to play a pioneering role in climate protection, the European Union has decided to pursue a reduction of at least 20% in greenhouse-gas emissions (on 1990 levels) by the year 2020. Moreover, Europe has declared its willingness to commit itself to emission reductions of 30% over the same...

Consumer prices for electricity in Germany have risen considerably in recent years. These price increases are partially attributable to a strong rise in the apportionment for the promotion of renewable electricity in accordance with the German Renewable Energy Sources Act (EEG). The EEG...