气候变化领域集成服务门户(CCPortal): Decision strategies in sequential power markets with renewable energy

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DOI	10.1016/j.enpol.2022.113025
	Decision strategies in sequential power markets with renewable energy
	Koolen D.; Huisman R.; Ketter W.
发表日期	2022
ISSN	0301-4215
卷号	167
英文摘要	With direct electrification at the core of global decarbonization efforts, it is key for policy makers to adequately evaluate market dynamics in renewable power systems. The ongoing integration of renewable energy sources fundamentally changes these dynamics, with variable production profiles, lower marginal production costs and increased price volatility. This motivates us to study how an increasing supply from renewable energy sources impacts decision making of intermittent and non-intermittent producers in sequential forward and spot markets. We do this by examining prices and volumes observed in an experimental trading environment that allows us to vary the market share of intermittent renewable energy production with a high degree of control. The results show that non-intermittent power producers, who can flexibly adjust volumes in the short-term, can retain their profits by moving focus from forward to spot markets. We find empirical support for our experimental results by validating data from German short-term power markets in 2021 and create awareness on the convenience yield for flexibility in power systems with a high market share of intermittent renewable energy sources. The study thereby guides policy makers to align supporting the uptake of intermittent renewable energy production with taking away hurdles faced by low-carbon flex technologies. © 2022 Elsevier Ltd
英文关键词	Decision strategies; Electricity markets; Intermittent production; Renewable energy
语种	英语
scopus关键词	Competition; Costs; Decision making; Natural resources; Power markets; Decarbonisation; Decision strategy; Energy productions; Intermittent production; Market dynamics; Market share; Policy makers; Renewable energies; Renewable energy source; Spot market; Renewable energy resources
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256167
作者单位	European Commission, JRC Directorate for Energy, Transport and Climate, Netherlands; Rotterdam School of Management, Erasmus University Rotterdam, Netherlands; Erasmus School of Economics, Erasmus University Rotterdam, Netherlands; Kyiv-Mohyla Business School, National University of Kyiv Mohyla Academy, Ukraine; Faculty of Management, Economics, and Social Sciences, University of Cologne, Germany
推荐引用方式 GB/T 7714	Koolen D.,Huisman R.,Ketter W.. Decision strategies in sequential power markets with renewable energy[J],2022,167.
APA	Koolen D.,Huisman R.,&Ketter W..(2022).Decision strategies in sequential power markets with renewable energy.Energy Policy,167.
MLA	Koolen D.,et al."Decision strategies in sequential power markets with renewable energy".Energy Policy 167(2022).