System security in electricity markets relies crucially on the interaction between demand and supply over time. However, research on electricity markets has been mainly focusing on the supply side arguing that demand is rather inelastic. Assuming perfectly inelastic demand might lead to delusive...

The diffusion of renewable electricity generating technologies is widely considered as crucial for establishing a sustainable energy system in the future. However, the required transition is unlikely to be achieved by market forces alone. For this reason, many countries implement various policy...

The pure model of replicator dynamics though providing important insights in the evolution of markets has not found much of empirical support. This paper extends the model to the case of firms vertically integrated in value chains. We show that i) by taking value chains into account, the...

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...

After a period of hibernation, the development of pumped-hydro storage plants in Germany regains momentum. Motivated by an ever increasing share of intermittent renewable generation, a variety of energy players considers new projects, which could increase the available capacity by up to 60%...

We examine the relationship between the choice of steelmaking technology and energy prices in Germany using data beginning 1970. The analysis indicates that technology choice began to cointegrate with comparative energy prices in the early 90s. The short and long-run effects of energy prices are...