In this paper, we apply the theory of nodal pricing to a particularly urgent issue of energy and environmental economics: the integration of wind power in electricity systems. We use a nodal pricing model to analyze the impact of German wind power production on the North Western European power...

The paper is devoted to the issue of smart power system cost-benefit analysis. The innovative character of smart grids is defined and related obstacles for traditional cost-benefit assessment are revealed, primarily referred to external effects evaluation. Brief systematization of existing...