Nach dem Willen der Bundesregierung soll der Anteil der regenerativen Energien an der Stromerzeugung vergrößert werden. Wie sind die Chancen der grünen Energiequellen nach der Liberalisierung des deutschen Strommarktes? Muss die Energie- und Umweltpolitik stärker an den Markt angepasst werden?

This paper contributes to the ongoing discussion on price formation in electricity markets. For this, we conduct an analysis of the German electricity wholesale spot market which is located at the European Energy Exchange (EEX). Our dataset covers three spot market segments, namely the intraday...

The mechanism behind price formation in electricity futures markets is still under discussion. Theory suggests that hedging pressure caused by deviating risk preferences is the most promising approach. This paper contributes to this discussion through an empirical investigation of electricity...

Despite political activities to foster a low-carbon energy transition, Germany currently sees a considerable number of new coal power plants being added to its power mix. There are several possible drivers for this "dash for coal", but it is widely accepted that windfall profits gained through...

Das Erneuerbare-Energien-Gesetz wird zurzeit heftig diskutiert. Es hat zwar eine stark zunehmende Stromerzeugung aus erneuerbaren Energiequellen ermöglicht, wird aber mit Strompreiserhöhungen und Ineffizienzen in Verbindung gebracht. Die Autoren fordern eine grundsätzliche Anpassung der...

Our paper deals with modeling the effects of introducing a market-based tool for improving end-users' efficiency in an energy market which is already regulated through a cap-and-trade system for green house gas emissions and a quota system meant to improve competitiveness of energy produced...