Cross-Border Effects on Swiss Electricity Prices in the Light of the Energy Transition
| Autor: | Michael Schürle, Karl Frauendorfer, Florentina Paraschiv |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2018 |
| Předmět: |
Macroeconomics
Control and Optimization 020209 energy Energy Engineering and Power Technology Swiss electricity prices Context (language use) 02 engineering and technology Energy transition lcsh:Technology 01 natural sciences Energy policy 010104 statistics & probability business studies Merit order 0202 electrical engineering electronic engineering information engineering Economics Substitution effect other research area 0101 mathematics Electrical and Electronic Engineering Engineering (miscellaneous) Hydropower lcsh:T Renewable Energy Sustainability and the Environment business.industry renewable energy fundamental model Renewable energy cross-border effects Electricity business Energy (miscellaneous) |
| Zdroj: | Energies Volume 11 Issue 9 Energies, Vol 11, Iss 9, p 2188 (2018) |
| ISSN: | 1996-1073 |
| DOI: | 10.3390/en11092188 |
| Popis: | Given the perspective of the Swiss energy policy to support investments in renewable energy sources, it becomes highly relevant at this point to understand cross-border effects of imported electricity on the Swiss electricity prices. We found that German (Phelix) and Swiss (Swissix) electricity prices are cointegrated, given that the two markets are interconnected. We examined the cross-border effects of the German market fundamentals on Swissix, taking into account seasonality aspects. In the context of a dynamic fundamental model, we found that there is a continuous adaption process of electricity prices to market fundamentals and that this effect depends on the season of the year and the time of the day. Model results reveal the substitution effect between traditional fuels and renewable energies due to their alternative use in production and the shift in the merit order curve. Results are of great relevance to Swiss policy makers: Switzerland imports lower electricity prices due to the energy transition in Germany. In particular, because of the high infeed of PV (photovoltaic) during peak hours, the spread between Swissix peak and off-peak prices narrowed significantly over time. Incentives for investments in renewable energies in Switzerland as well as subsidies for hydropower should be considered in the light of these insights. (C) 2018 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/) |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|
| Nepřihlášeným uživatelům se plný text nezobrazuje | K zobrazení výsledku je třeba se přihlásit. |