Some electricity markets use automated mitigation procedures against market power abuse. This requires marginal cost estimates, which have to be derived from observed auction bids. Current stimation procedures can be improved by using available auction data more systematically. Our redesign...

Electricity markets are prone to the abuse of market power. Several US markets employ algorithms to monitor and mitigate market power abuse in real time. The performance of automated mitigation procedures is contingent on precise estimates of firms' marginal production costs. Currently, marginal...

Steigende Anteile von fluktuierenden erneuerbaren Energien (EE) in Kombination mit technologischen Restriktionen konventioneller Kraftwerke verändern die Art und Weise, wie Elektrizität bepreist werden muss und somit das zugrunde liegende Strommarktdesign. Der Beitrag untersucht die...

Most electricity systems face contractual fixed consumer prices in the short term, that is, load and price are fixed before the random supply of renewables like wind or solar realizes. Steam power plants also make production decisions before such a random supply realizes. These capacities cannot...

Die Kosten von Technologien zur Nutzung fluktuierender erneuerbarer Energien (EE) wie Windturbinen und Photovoltaik-Anlagen sind in den vergangenen 15 Jahren enorm gefallen. Waren solche Technologien anfangs nur durch substanzielle Subventionen für Firmen wirtschaftlich anzuwenden, sind sie...

Increasing shares of intermittent renewable energies challenge the dominant way to trade electricity ex-ante in forward, day-ahead, and intraday markets: Coal power plants and consumers cannot react to the stochastic element of renewables, whereas gas turbines can. We use a theoretical model to...

Erdgas- und Strompreise hängen in Deutschland und Europa zwar fundamental zusammen. Doch warum verteuern Erdgaspreise die Strompreise so stark, obwohl der Erdgasanteil im Strommix verhältnismäßig gering ist? Was bedeutet das für europäische und deutsche Strompreise? Können die drei...

Nuclear stretching operation in Germany until April 15, 2023 brings down German (European) power prices by 6.01 percent (1.51 percent) until April 15, 2023 and by 2.98 percent (0.65 percent) in 2023, saving 4.8 TWH (8.6 TWh) of natural gas and 3.3 Mt (4.5 Mt) of CO2 emissions in 2023. Nuclear...