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...

We use the cross-impact balance analysis to develop narratives that differ in the level of political collaboration (in terms of the stringency of the EU climate policy) and physical collaboration (possible expansion of transmission capacity between countries) in the European power market....

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...

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...

We conduct a hybrid scenario exercise to analyze decarbonization pathways of the European power market and related distributional effects across countries as well as between consumers and producers. Our CIB analysis reveals qualitative scenarios that differ in the level of political (stringency...

We apply Open Street Map to identify available placement cells and Global Wind Atlas to determine average wind speeds on a 500 x 500m grid in Germany (1.3 million cells). Minimum distances to obstacles such a roads and buildings leave 535,000 potential placement cells. We calculate...

Detailed numerical models of power markets with millions of variables and equations are often perceived as black boxes, because differences in results cannot be traced back to single equations or assumptions, respectively. We unravel parts of those black box by determining the impact of...

When the supply of intermittent renewable energies like wind and solar is high, the electricity price is low. Conversely, prices are high when their supply is low. This reduces the profit potential in renewable energies and, therefore, incentives to invest in renewable capacities. Nevertheless,...

When the supply of intermittent renewable energies like wind and solar is high, the electricity price is low. Conversely, prices are high when their supply is low. This reduces the pro t potential in renewable energies and, therefore, incentives to invest in renewable capacities. Nevertheless,...

We extend the theory of peak-load pricing by considering that the production with different technologies can be adjusted within their capacity at different speeds. In the established analysis, all production decisions can be made after the random variables realize. In our setting, in contrast,...