气候变化领域集成服务门户(CCPortal): Price spikes, temporary price caps, and welfare effects of regulatory interventions on wholesale electricity markets

CCPortal

DOI	10.1016/j.enpol.2022.112816
	Price spikes, temporary price caps, and welfare effects of regulatory interventions on wholesale electricity markets
	Sirin S.M.; Erten I.
发表日期	2022
ISSN	0301-4215
卷号	163
英文摘要	There is growing empirical evidence of increasing price volatility and price spikes in electricity markets as a result of variable renewable energy generation, extreme weather events, and other factors. While price spikes are needed to cover the fixed costs of power plants, they may also signal market flaws and anti-competitive behavior. Regulatory authorities have imposed market price caps to protect consumers and prevent abusive supplier behavior. In addition, some regulators have imposed temporary price caps during or after severe events; however, these caps may be driven by political motives rather than economic logic in weak institutional settings. This paper evaluates the welfare effect of the temporary price cap implemented in 2017 on the Turkish electricity market. By using matching and panel data methods, we show that the temporary price cap reduced the total welfare but did not affect market clearing price and projected supply. Our detailed analysis shows that this decision was driven by non-economic motives, and identifies a number of fundamental problems in the Turkish market that limit the effective functioning of the market. © 2022 Elsevier Ltd
英文关键词	Electricity; Market; Price cap; Regulation; Turkey
语种	英语
scopus关键词	Consumer behavior; Electric industry; Power markets; Market; Price caps; Price spike; Price volatility; Regulation; Regulatory interventions; Turkey; Turkishs; Welfare effects; Wholesale electricity markets; Renewable energy resources; electricity generation; electricity supply; energy management; energy market; price dynamics; regulatory framework; Turkey
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/256335
作者单位	Ivey Business School, 1255 Western Rd, London, ON N6G 0N1, Canada; NARUC, 1101 Vermont Avenue, NW, Suite 200, Washington, DC 20005, United States
推荐引用方式 GB/T 7714	Sirin S.M.,Erten I.. Price spikes, temporary price caps, and welfare effects of regulatory interventions on wholesale electricity markets[J],2022,163.
APA	Sirin S.M.,&Erten I..(2022).Price spikes, temporary price caps, and welfare effects of regulatory interventions on wholesale electricity markets.Energy Policy,163.
MLA	Sirin S.M.,et al."Price spikes, temporary price caps, and welfare effects of regulatory interventions on wholesale electricity markets".Energy Policy 163(2022).