| Autor: |
Kulakov, Sergei, Ziel, Florian |
| Rok vydání: |
2019 |
| Předmět: |
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| Zdroj: |
Economics of Energy and Environmental Policy, 10(1) 2021 |
| Druh dokumentu: |
Working Paper |
| DOI: |
10.5547/2160-5890.10.1.skul |
| Popis: |
In this paper we study the impact of errors in wind and solar power forecasts on intraday electricity prices. We develop a novel econometric model which is based on day-ahead wholesale auction curves data and errors in wind and solar power forecasts. The model shifts day-ahead supply curves to calculate intraday prices. We apply our model to the German EPEX SPOT SE data. Our model outperforms both linear and non-linear benchmarks. Our study allows us to conclude that errors in renewable energy forecasts exert a non-linear impact on intraday prices. We demonstrate that additional wind and solar power capacities induce non-linear changes in the intraday price volatility. Finally, we comment on economical and policy implications of our findings. |
| Databáze: |
arXiv |
| Externí odkaz: |
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