Portal de Periódicos da CAPES

The impact of renewable energies on EEX day-ahead electricity prices

2014; Elsevier BV; Volume: 73; Linguagem: Inglês

10.1016/j.enpol.2014.05.004

1873-6777

Florentina Paraschiv, David Erni, R Pietsch,

Energy Efficiency and Management

In this paper, we analyze the impact of renewable energies, wind and photovoltaic, on the formation of day-ahead electricity prices at EEX. We give an overview of the policy decisions concerning the promotion of renewable energy sources in Germany and discuss their consequences on day-ahead prices. An analysis of electricity spot prices reveals that the introduction of renewable energies enhances extreme price changes. In the frame of a dynamic fundamental model, we show that there has been a continuous electricity price adaption process to market fundamentals. Furthermore, the fundamental drivers of prices differ among hours with different load profiles. Our results imply that renewable energies decrease market spot prices and have implications on the traditional fuel mix for electricity production. However, the prices for the final consumers increased overall because they must pay in addition the feed-in tariffs for the promotion of renewable energy.