Kazakhstan envisions a transition towards a green economy in the next decades which poses an immense challenge as the country heavily depends on (hydro-)carbon resources, for both its economy and its energy system. In this context, there is a lack of comprehensive and transparent planning tools...

In the California wholesale electricity market, physical power is sold competitively in a multi-unit multi-settlement single-price auction comprised of a day-ahead forward market and a real-time spot market. Historically, significant divergences have arisen between forward and spot prices,...

Natural gas currently represents close to a third of U.S. primary energy consumption and has often been described as a bridge fuel in the context of the ongoing energy transition. As coal plants are retired and the share of variable renewable resources in the U.S. power markets grows, power...

Ein Versagen des Preismechanismus im Gasmarkt ist nicht ausgeschlossen. Der Beitrag erläutert, wie es zu einem Marktzusammenbruch kommen kann und welche Auswirkungen bereits die Möglichkeit eines Marktkollapses haben kann. Es wird gezeigt, welche Elemente ein ökonomisches Regelwerk im...

We consider the energy transition in a tractable model of electricity markets that includes renewables with storage. Storage smooths costs over time and complements the intermittency of renewables. We calibrate our model to data from Uruguay, Brazil, and Argentina, countries with different...

Der angestrebte Umbau der Energieversorgung wird die Rationalität des Stromsystems vollständig verändern, indem die fluktuierenden erneuerbaren Energien (FEE, das heißt Wind, Photovoltaik und große Teile der Laufwasserkraft) zu den prägenden Systemsäulen werden. Die FEE sollen sukzessive...

This article proposes a new electricity storage business model based on multiple simultaneously considered revenue streams, which can be attributed to different market activities and players. These players thus share electricity storage resources and compete to obtain the right to use them in a...

Strongly correlated and spatially concentrated curtailment of power plants strongly affects the electricity market. Such curtailment is observed during heat waves in middle Europe, for example. First, curtailed power plants need to be substituted by more expensive ones. Second, additional...

In electricity markets globally, market participants and policymakers increasingly focus on integrating adjacent, yet separate market areas via cross-border trade in electricity. Based on a discussion of the institutional framework for organizing cross-border trade, this paper analyzes how spot...

Restricted participation in sequential markets may cause high price volatility and welfare losses. In this paper we therefore analyze the drivers of restricted participation in the German intraday auctin which is a short-term electricity market with quarter-hourly products. Applying a...