@misc{MoebiusRiepinMuesgensetal., author = {M{\"o}bius, Thomas and Riepin, Iegor and M{\"u}sgens, Felix and van der Weijde, Adriaan H.}, title = {Risk aversion and flexibility options in electricity markets}, series = {Energy Economics}, volume = {126}, journal = {Energy Economics}, issn = {0140-9883}, abstract = {Investments in electricity transmission and generation capacity must be made despite significant uncertainty about the future developments. The sources of this uncertainty include, among others, the future levels and spatiotemporal distribution of electricity demand, fuel costs and future energy policy. In recent years, these uncertainties have increased due to the ongoing evolution of supply- and demand-side technologies and rapid policy changes designed to encourage a transition to low-carbon energy systems. Because transmission and generation investments have long lead times and are difficult to reverse, they are subject to a considerable - and arguably growing - amount of risk.}, language = {en} } @misc{JalboutGengeRiepinetal., author = {Jalbout, Eddy and Genge, Lucien and Riepin, Iegor and M{\"u}sgens, Felix}, title = {What do we know about green hydrogen supply costs?}, series = {18th International Conference on the European Energy Market (EEM), 13-15 September 2022, Ljubljana, Slovenia}, journal = {18th International Conference on the European Energy Market (EEM), 13-15 September 2022, Ljubljana, Slovenia}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-6654-0896-7}, issn = {2165-4093}, doi = {10.1109/EEM54602.2022.9921127}, pages = {1 -- 7}, abstract = {This paper is set up to answer the question: What do we know about future hydrogen import costs on the European border? Our work focuses on breaking down, structuring and analysing the body of literature on hydrogen supply chains. We provide a comprehensive analysis on (i) What ranges of costs exist in the literature for specific steps of hydrogen supply chains? (ii) Which assumptions show the highest uncertainty? (iii) Related, what assumption seems to have the most substantial effect on the resulting EUR/kgH2 import cost estimate? While we narrow our discussion focus on North Africa and Australia to Europe in 2050, we hope policymakers, research fellows and energy-sector stakeholders around the globe might be interested in our results.}, language = {en} } @misc{BerneckerRiepinMuesgens, author = {Bernecker, Maximilian and Riepin, Iegor and M{\"u}sgens, Felix}, title = {Modeling of Extreme Weather Events—Towards Resilient Transmission Expansion Planning}, series = {18th International Conference on the European Energy Market (EEM), 13-15 September 2022, Ljubljana, Slovenia}, journal = {18th International Conference on the European Energy Market (EEM), 13-15 September 2022, Ljubljana, Slovenia}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-6654-0896-7}, issn = {2165-4093}, doi = {10.1109/EEM54602.2022.9921145}, pages = {1 -- 7}, abstract = {In this paper, we endogenously compute worst-case weather events in a transmission system expansion planning problem using the robust optimization approach. Mathematically, we formulate a three-level mixed-integer optimization problem, which we convert to a bi-level problem via the strong duality concept. We solve the problem using a constraint-and-column generation algorithm. We use cardinality-constrained uncertainty sets to model the effects of extreme weather realizations on supply from renewable generators.}, language = {en} } @misc{RiepinSchmidtBaringoetal., author = {Riepin, Iegor and Schmidt, Matthew and Baringo, Luis and M{\"u}sgens, Felix}, title = {Adaptive robust optimization for European strategic gas infrastructure planning}, series = {Applied Energy}, volume = {324}, journal = {Applied Energy}, issn = {1872-9118}, doi = {10.1016/j.apenergy.2022.119686}, abstract = {An adaptive robust optimization model for a gas transmission expansion problem. Analysis of Projects of Common Interests' value in maintaining gas system resilience. Endogenous realizations of cold-winter demand spikes and supply shortages. Publicly available source code for the entire project.}, language = {en} } @misc{HoffmannZiemannPenskeetal., author = {Hoffmann, Christin and Ziemann, Niklas and Penske, Franziska and M{\"u}sgens, Felix}, title = {The value of secure electricity supply for increasing acceptance of green hydrogen - First experimental evidence from the virtual reality lab}, series = {19th International Conference on the European Energy Market (EEM), 06-08 June 2023, Lappeenranta, Finland}, journal = {19th International Conference on the European Energy Market (EEM), 06-08 June 2023, Lappeenranta, Finland}, isbn = {979-8-3503-1258-4}, issn = {2165-4093}, doi = {10.1109/EEM58374.2023.10161844}, pages = {9}, abstract = {To unlock the high potential of green hydrogen in reaching the ambitious 1.5 °C goal declared by the Paris Agreement, enormous (public) investments are needed. Social acceptance of these investments is required in order to implement hydrogen technologies as fast and efficiently as possible. This study investigates which benefits associated with green hydrogen foster its social acceptance. Using a between-subject design, we implement two different treatments. Both treatments have in common that the participants experience the transformation into a hydrogen economy in a virtual reality scenario. In "Info Security of Supply", we provide the participants information about the benefits of green hydrogen regarding the security of energy supply and climate protection. In Control, we inform them only about the benefits of climate protection. Subsequently, the participants decide about the financial support of a hydrogen project. Our preliminary results show a higher support if the focus is solely on the positive impact of green hydrogen for climate protection.}, language = {en} } @misc{JansenBeiterRiepinetal., author = {Jansen, Malte and Beiter, Philipp and Riepin, Iegor and M{\"u}sgens, Felix and Guajardo-Fajardo, Victor Juarez and Staffell, Iain and Bulder, Bernard and Kitzing, Lena}, title = {Policy choices and outcomes for the competitive procurement of offshore wind energy globally}, series = {Energy Policy}, volume = {167}, journal = {Energy Policy}, issn = {0301-4215}, doi = {10.1016/j.enpol.2022.113000}, abstract = {Offshore wind energy is rapidly expanding, facilitated largely through auctions run by governments. We provide a detailed quantified overview of utilised auction schemes, including geographical spread, volumes, results, and design specifications. Our comprehensive global dataset reveals heterogeneous designs. Although most auction designs provide some form of revenue stabilisation, their specific instrument choices vary and include feed-in tariffs, one-sided and two-sided contracts for difference, mandated power purchase agreements, and mandated renewable energy certificates. We review the schemes used in all eight major offshore wind jurisdictions across Europe, Asia, and North America and evaluate bids in their jurisdictional context. We analyse cost competitiveness, likelihood of timely construction, occurrence of strategic bidding, and identify jurisdictional aspects that might have influenced auction results. We find that auctions are embedded within their respective regulatory and market design context, and are remarkably diverse, though with regional similarities. Auctions in each jurisdiction have evolved and tend to become more exposed to market price risks over time. Less mature markets are more prone to make use of lower-risk designs. Still, some form of revenue stabilisation is employed for all auctioned offshore wind energy farms analysed here, regardless of the specific policy choices. Our data confirm a coincidence of declining costs and growing diffusion of auction regimes.}, language = {en} } @misc{NguyenMuesgens, author = {Nguyen, Thi Ngoc and M{\"u}sgens, Felix}, title = {What drives the accuracy of PV output forecasts?}, series = {Applied Energy}, volume = {323}, journal = {Applied Energy}, issn = {1872-9118}, doi = {10.1016/j.apenergy.2022.119603}, abstract = {In this paper, 180 papers on photovoltaic (PV) output forecasting were reviewed and a database of forecast errors was extracted for statistical analysis. The paper shows that among the forecast models, hybrid models are most likely to become the primary form of PV output forecasting in the future. The use of data processing techniques is positively correlated with the forecast quality, while the lengths of the forecast horizons and out-of-sample test sets have negative effects on the forecast accuracy. The paper also found that the use of data normalization, the wavelet transform, and the inclusion of clear sky index and numerical weather prediction variables are the most effective data processing techniques. Furthermore, the paper found some evidence of "cherry picking" in the reporting of errors and we recommend that the test sets be at least one year long to avoid any distortion in the performance of the models.}, language = {en} } @inproceedings{MuesgensRiepin, author = {M{\"u}sgens, Felix and Riepin, Iegor}, title = {Is Offshore Already Competitive? Analyzing German Offshore Wind Auctions}, series = {15th International Conference on the European Energy Market (EEM), 27-29 June 2018, Lodz, Poland}, booktitle = {15th International Conference on the European Energy Market (EEM), 27-29 June 2018, Lodz, Poland}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-5386-1488-4}, doi = {10.1109/EEM.2018.8469851}, pages = {6}, abstract = {Two German offshore wind auctions in 2017 and 2018 saw more than 50\% of winning capacity with "zero bids". The nature of these surprisingly low bids is, however, not yet clear. In our paper, we discuss four hypotheses for possible causes for the auction results: (i) the bids are expected to be profitable due to market development and technological progress, (ii) bids can be perceived as "options to build" that can be realized if projects are profitable, (iii) bids are adjusted to secure grid access, and (iv) other long term reasons not primarily driven by the profitability of the winning bids. Our results suggest that there is evidence for all hypotheses to influence the decision making of auction bidders. In fact, we suggest to see the four hypothesis as cumulative value components, which reveal the true value of winning the auction at "zero cost" in aggregate.}, language = {en} } @inproceedings{RiepinMoebiusMuesgens, author = {Riepin, Iegor and M{\"o}bius, Thomas and M{\"u}sgens, Felix}, title = {Integrated Electricity and Gas Market Modeling - Effects of Gas Demand Uncertainty}, series = {15th International Conference on the European Energy Market (EEM), 27-29 June 2018, Lodz, Poland}, booktitle = {15th International Conference on the European Energy Market (EEM), 27-29 June 2018, Lodz, Poland}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-5386-1488-4}, doi = {10.1109/EEM.2018.8469790}, pages = {5}, abstract = {This paper develops an integrated fundamental investment model which considers both the gas and electricity sector. Furthermore, we adopt the theory of stochastic programming with recourse in the combined model to account for uncertainty in the gas market. This approach enables us to analyze how uncertain gas demand in other sectors affects decisions to invest in electricity generation capacities. We find an overall decrease and a reallocation of investments in gas-fired power plants. We also quantify the expected costs of ignoring uncertainty.}, language = {en} } @inproceedings{KreuzbergMuesgens, author = {Kreuzberg, Martin and M{\"u}sgens, Felix}, title = {Der Einfluss der Speicherkraftwerke in der Alpenregion auf die Strompreise in Deutschland - Eine modellgest{\"u}tzte Analyse}, series = {2. Internationale Energiewirtschaftstagung, IEWT 2001, 21. bis 23. Februar 2001, Wien}, booktitle = {2. Internationale Energiewirtschaftstagung, IEWT 2001, 21. bis 23. Februar 2001, Wien}, publisher = {Institut f{\"u}r Elektrische Anlagen und Energiewirtschaft}, address = {Wien}, language = {de} } @inproceedings{ScholzMuesgens, author = {Scholz, Daniel and M{\"u}sgens, Felix}, title = {How to improve standard load profiles: Updating, regionalization and smart meter data}, series = {14th International Conference on the European Energy Market (EEM), Dresden Germany, 6-9 June 2017}, booktitle = {14th International Conference on the European Energy Market (EEM), Dresden Germany, 6-9 June 2017}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-5090-5499-2}, doi = {10.1109/EEM.2017.7981939}, pages = {6}, language = {en} } @inproceedings{MoebiusMuesgens, author = {M{\"o}bius, Thomas and M{\"u}sgens, Felix}, title = {Electricity Market Equilibria and Intermittent Renewables - A Stochastic Approach}, series = {14th International Conference on the European Energy Market (EEM), Dresden Germany, 6-9 June 2017}, booktitle = {14th International Conference on the European Energy Market (EEM), Dresden Germany, 6-9 June 2017}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-5090-5499-2}, doi = {10.1109/EEM.2017.7981988}, pages = {5}, language = {en} } @inproceedings{Muesgens, author = {M{\"u}sgens, Felix}, title = {Roads to Transition in German Energy Policy}, series = {The road to Paris \& multi-level carbon pricing: Getting the incentives right at the global, European \& national level}, booktitle = {The road to Paris \& multi-level carbon pricing: Getting the incentives right at the global, European \& national level}, publisher = {Potsdam-Institut f{\"u}r Klimafolgenforschung}, address = {Potsdam, Cottbus}, pages = {46 -- 57}, language = {en} } @inproceedings{KreuzMuesgens, author = {Kreuz, Sebastian and M{\"u}sgens, Felix}, title = {Asymmetries in the German Diesel Retail Market}, series = {IEEE Conference Proceeding EEM 2016}, booktitle = {IEEE Conference Proceeding EEM 2016}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-5090-1298-5}, doi = {10.1109/EEM.2016.7521192}, pages = {5}, abstract = {Economists often analyze asymmetric cost passthrough between retail fuel prices and oil prices ('Rockets and Feathers') as a proxy for market power. Such symmetries have been analyzed for different countries and time periods. However, few studies have been conducted for the German market. Furthermore, no study has differentiated between company types in this context. In this paper, we analyze market behavior in the German diesel market. We compare the pricing strategies of independent petrol stations with the general diesel market. Independent petrol stations have no connection with popular fuel brands and therefore might decrease market power of dominating brand stations. We use an error correction model for the period from 2011 to 2012 to evaluate the specific market behavior. We conclude that asymmetric pricing behavior is given for independent petrol stations as well as for the whole German market.}, language = {en} } @inproceedings{KreuzbergerMuesgens, author = {Kreuzberger, M. and M{\"u}sgens, Felix}, title = {Der Einfluss der Speicherkrafftwerke in der Alpenregion auf die Strompreise in Deutschland}, series = {2. Internationale Energiewirtschaftstagung, IEWT 2001 Wien}, booktitle = {2. Internationale Energiewirtschaftstagung, IEWT 2001 Wien}, publisher = {Institut f{\"u}r Elektrische Anlagen und Energiewirtschaft}, address = {Wien}, language = {de} } @techreport{MuesgensKaeso, author = {M{\"u}sgens, Felix and K{\"a}so, Mathias}, title = {Auktionsdesign f{\"u}r Photovoltaikanlagen auf Freifl{\"a}chen}, publisher = {r2b energy consulting GmbH [u.a.]}, address = {K{\"o}ln ; Cottbus}, pages = {39}, language = {de} } @inproceedings{MuesgensLienert, author = {M{\"u}sgens, Felix and Lienert, Martin}, title = {Political Shocks and Efficient Investment in Electricity Markets}, series = {European Energy Market (EEM), 2012 9th International Conference on the}, booktitle = {European Energy Market (EEM), 2012 9th International Conference on the}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-4673-0834-2}, doi = {10.1109/EEM.2012.6491508}, pages = {1 -- 9}, abstract = {This paper presents a fundamental electricity market model capturing many essential features of investments in electricity markets - fuel price developments, investment and generation costs, demand and dynamic effects such as start-up costs and (pump) storage dispatch. The partial equilibrium model minimizes the total costs of the electricity system ensuring demand coverage. The model optimizes both long-run investment as well as short-run dispatch decisions. From the optimal solution, the optimal future generation technology mix and dispatch can be derived. Furthermore, using the concept of shadow prices in mathematical programming, we calculate electricity price predictions. The model is applied to analyze the effect of recent political shocks in German nuclear energy policy on the electricity market and the power plant portfolio. The effect is quantified using the example of a specific combined cycle gas turbine project. We find a significant impact on the future net revenues.}, language = {en} } @techreport{KreuzMuesgensWissen, author = {Kreuz, Sebastian and M{\"u}sgens, Felix and Wissen, Ralf}, title = {Absch{\"a}tzung von F{\"o}rderkosten der Bestandsanlagen erneuerbarer Energien bis zum Jahr 2030}, publisher = {Brandenburgische Technische Universit{\"a}t}, address = {Cottbus ; Senftenberg}, pages = {26}, language = {de} } @inproceedings{ScholzMuesgens, author = {Scholz, Daniel and M{\"u}sgens, Felix}, title = {Increasing flexibility of combined heat and power plants with Power-to-Heat}, series = {Proceedings, 12th International Conference on the European Energy Market (EEM), Lisbon, 19-22 May 2015}, booktitle = {Proceedings, 12th International Conference on the European Energy Market (EEM), Lisbon, 19-22 May 2015}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-4673-6692-2}, doi = {10.1109/EEM.2015.7216771}, pages = {5}, language = {en} } @inproceedings{MoebiusMuesgens, author = {M{\"o}bius, Thomas and M{\"u}sgens, Felix}, title = {The Effect of Variable Renewable Energy Sources on the Volatility of Wholesale Electricity Prices - A Stylized Full Cost Approach}, series = {Proceedings, 12th International Conference on the European Energy Market (EEM), Lisbon, 19-22 May 2015}, booktitle = {Proceedings, 12th International Conference on the European Energy Market (EEM), Lisbon, 19-22 May 2015}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-4673-6692-2}, doi = {10.1109/EEM.2015.7216772}, pages = {5}, language = {en} } @misc{MuesgensRiepin, author = {M{\"u}sgens, Felix and Riepin, Iegor}, title = {Offshore-Windenergie - subventionsfrei?}, series = {e|m|w.Trends : das Innovationsmagazin von ener|gate}, journal = {e|m|w.Trends : das Innovationsmagazin von ener|gate}, number = {5}, issn = {1611-2997}, language = {de} } @techreport{MuesgensKreuz, author = {M{\"u}sgens, Felix and Kreuz, Sebastian}, title = {{\"U}ber eine CO2-Bepreisung zur Sektorenkopplung: Ein neues Marktdesign f{\"u}r die Energiewende}, pages = {26}, abstract = {Dieser Impuls stellt Zwischenergebnisse der ESYS Arbeitsgruppe „Strommarktdesign" vor. Ein Schwerpunkt der Arbeitsgruppe ist ein verbessertes Marktdesign f{\"u}r die Sektorenkopplung, dessen wesentlicher Bestandteil eine wirksame CO2-Bepreisung ist. Aufgrund der aktuellen klimapolitischen Debatten und der damit verbundenen großen Dynamik hat die Arbeitsgruppe dieses Impuls mit besonderem Fokus auf dem CO2-Preis verfasst. Die Gesamtergebnisse werden 2020 in einer ausf{\"u}hrlichen Studie ver{\"o}ffentlicht, die auch weitere Aspekte des Strommarktdesigns umfasst.}, language = {de} } @incollection{MuesgensSeeliger, author = {M{\"u}sgens, Felix and Seeliger, Andreas}, title = {Unkonventionelle Erdgasvorkommen und ihre Auswirkungen auf Europa}, series = {Energie f{\"u}r Deutschland 2013 : Fakten, Perspektiven und Positionen im globalen Kontext}, booktitle = {Energie f{\"u}r Deutschland 2013 : Fakten, Perspektiven und Positionen im globalen Kontext}, publisher = {Weltenergierat - Deutschland e.V.}, address = {Berlin}, pages = {7 -- 31}, language = {de} } @techreport{LenzenLienertMuesgens, author = {Lenzen, V. and Lienert, Martin and M{\"u}sgens, Felix}, title = {Effizientes Regime f{\"u}r den Ausbau der EE, Weiterentwicklung des Energy-Only-Marktes und Erhaltung des EU-ETS}, publisher = {Frontier Economics [u.a.]}, address = {Brussels [u.a.]}, pages = {150}, language = {de} } @misc{MuesgensSeeliger, author = {M{\"u}sgens, Felix and Seeliger, Andreas}, title = {Der Shale Gas-Boom in den USA und die {\"o}konomischen Auswirkungen auf Deutschland}, series = {ifo Schnelldienst}, volume = {66}, journal = {ifo Schnelldienst}, number = {24}, issn = {0018-974X}, pages = {3 -- 5}, language = {de} } @misc{Muesgens, author = {M{\"u}sgens, Felix}, title = {{\"O}konomische Besonderheiten des Energiemarktes}, series = {EnWZ : Zeitschrift f{\"u}r das gesamte Recht der Energiewirtschaft}, volume = {6}, journal = {EnWZ : Zeitschrift f{\"u}r das gesamte Recht der Energiewirtschaft}, number = {7}, issn = {2195-2841}, pages = {243 -- 247}, language = {de} } @misc{SgarciuMuesgensOsorioetal., author = {Sgarciu, Smaranda and M{\"u}sgens, Felix and Osorio, Sebastian and Pahle, Michael}, title = {Is Germany on track to achieve 2030 climate and energy targets?}, series = {List Forum f{\"u}r Wirtschafts- und Finanzpolitik}, volume = {49}, journal = {List Forum f{\"u}r Wirtschafts- und Finanzpolitik}, issn = {2364-3943}, doi = {10.1007/s41025-023-00255-0}, pages = {93 -- 107}, abstract = {The future development of CO2emissions in the German electricity sector by 2030 is unclear: On the one hand, the amendment to the Climate Protection Act (from August 2021) aims to tighten emission reduction targets in order to promote the path to a decarbonised energy system. On the other hand, the complex interplay between the main instruments for reducing carbon emissions, fuel prices and the current energy shortage as a result of Russia's attack on Ukraine is creating pressure for an increase in emissions. In our study, we examine whether Germany is on track to achieve its climate protection targets for 2030 and which measures can increase the likelihood. To do this, we use an energy system model parameterized to reflect the situation in the energy market in 2021, i.e. before Russia's attack on Ukraine. In addition to the quantitative side, we provide a qualitative analysis of the energy market in the light of recent events. We stress the importance of introducing a carbon price floor that can be dynamically changed in response to the development of other market forces and policies. This instrument would institutionalize a more plausible path to decarbonization and provide reassurance to investors.}, language = {en} } @misc{HoffmannJalboutVillanuevaetal., author = {Hoffmann, Christin and Jalbout, Eddy and Villanueva, Monica and Batz Li{\~n}eiro, Taimyra and M{\"u}sgens, Felix}, title = {Positive and Negative Externalities from Renewable and Conventional Power Plants in the Backyard: The Value of Participation}, series = {SSRN eLibrary}, journal = {SSRN eLibrary}, issn = {1556-5068}, doi = {10.2139/ssrn.4203184}, pages = {1 -- 33}, abstract = {We quantify the net external effects of conventional and renewable electricity generators by analyzing housing prices in their vicinity. Using a Differences-in-Differences approach, we find that (1) wind turbines reduce prices significantly, (2) solar fields have no significant impact, and (3) conventional plants over 1 km away show positive net effects. We set out to explain this result by disentangling the positive local external effects of energy generation, which we measure in terms of local purchasing power and tax revenues. Our results show that the commissioning of conventional power stations results in a significant increase in both purchasing power and business tax income in the vicinity. We thus conclude that significant financial participation of the local public in the development of renewable energy projects, especially wind turbines, could be key to increasing their acceptance and accelerating their expansion.}, language = {en} } @misc{BatzLineiroMuesgens, author = {Batz Li{\~n}eiro, Taimyra and M{\"u}sgens, Felix}, title = {Evaluating the German onshore wind auction programme: An analysis based on individual bids}, series = {Energy Policy}, volume = {172}, journal = {Energy Policy}, issn = {1873-6777}, doi = {10.1016/j.enpol.2022.113317}, abstract = {Auctions are a highly demanded policy instrument for the promotion of renewable energy sources. Their flexible structure makes them adaptable to country-specific conditions and needs. However, their success depends greatly on how those needs are operationalised in the design elements. Disaggregating data from the German onshore wind auction programme into individual projects, we evaluated the contribution of auctions to the achievement of their primary (deployment at competitive prices) and secondary (diversity) objectives and have highlighted design elements that affect the policy's success or failure. We have shown that, in the German case, the auction scheme is unable to promote wind deployment at competitive prices, and that the design elements used to promote the secondary objectives not only fall short at achieving their intended goals, but create incentives for large actors to game the system.}, language = {en} } @misc{ScholzZundelMuesgens, author = {Scholz, Daniel and Zundel, Stefan and M{\"u}sgens, Felix}, title = {Price and Employment Effects triggered by a German Coal Phase-Out - A Discourse Analysis}, series = {16th International Conference on the European Energy Market (EEM)}, journal = {16th International Conference on the European Energy Market (EEM)}, publisher = {IEEE}, isbn = {978-1-7281-1257-2}, issn = {2165-4093}, doi = {10.1109/EEM.2019.8916478}, pages = {1}, language = {en} } @misc{HoffmannByrukuriGangadharMuesgens, author = {Hoffmann, Christin and Byrukuri Gangadhar, Shanmukha Srinivas and M{\"u}sgens, Felix}, title = {Smells Like Green Energy - Quasi-Experimental Evidence on the Impact of Bioenergy Production on Residential Property Values}, series = {SSRN eLibrary}, journal = {SSRN eLibrary}, issn = {1556-5068}, doi = {10.2139/ssrn.4760312}, pages = {1 -- 26}, abstract = {Residents' acceptance of bioenergy is a prerequisite for its fast and efficient development but is ambiguously discussed in practice and research. We interpret a causal impact of bioenergy plant commissioning on housing prices in their vicinity as the average net external effects for residents. We utilize bioenergy plant construction data in Germany between 2007 and 2022 as a quasi-experiment with naturally occurring control groups in their vicinity and apply recently improved difference-in-difference estimation procedures to analyze instantaneous and heterogeneous treatment effects. We find a significant and negative impact on housing prices if plants use gaseous biofuel, generate electricity on-site, and are medium-sized. The magnitude of the effect is comparable to those for solar fields. In contrast, we find no impact for small and large bioenergy plants and those that use solid or liquid biofuels.}, language = {en} } @techreport{BadeKaesoLienertetal., author = {Bade, Alexander and K{\"a}so, Mathias and Lienert, Martin and M{\"u}sgens, Felix and Schmitz, Christoph and Wissen, Ralf}, title = {Ausgestaltung eines Auktionsmodells f{\"u}r EE-Anlagen in Deutschland}, publisher = {r2b energy consulting GmbH [u.a.]}, address = {K{\"o}ln ; Cottbus}, pages = {90}, language = {de} } @misc{NikodinoskaKaesoMuesgens, author = {Nikodinoska, Dragana and K{\"a}so, Mathias and M{\"u}sgens, Felix}, title = {Solar and wind power generation forecasts using elastic net in time-varying forecast combinations}, series = {Applied Energy}, volume = {306, Part A}, journal = {Applied Energy}, issn = {1872-9118}, doi = {10.1016/j.apenergy.2021.117983}, pages = {17}, abstract = {Precise renewable energy feed-in forecasts are essential for an effective and efficient integration of renewables into energy systems, and research contributions that help to reduce the uncertainty related to renewables are in high demand. This importance will increase in the future, as renewable energies are the world's fastest growing electricity generation capacities. Forecast combinations have been empirically proven to outperform individual forecasting models in many disciplines. Our work uses an elastic net method, with cross-validation and rolling window estimation, in the context of renewable energy forecasts. Namely, the forecast combinations are obtained using regional data from Germany for both solar photovoltaic and wind feed-in during the period 2010-2018, with quarter-hourly frequency. The dynamic elastic net estimation, preceded by dynamic data pre-processing, improves forecasting accuracy for both photovoltaic and wind power feed-in forecasts. Moreover, our forecasting framework outperforms benchmarks such as simple average and individual forecasts. Our forecasting framework can be applied widely to estimate renewable power in other countries, systems, or individual power plants.}, language = {en} } @incollection{MuesgensOckenfels, author = {M{\"u}sgens, Felix and Ockenfels, Axel}, title = {Marktdesign in der Energiewirtschaft}, series = {Umwelt und Energie : Wirtschaftswissenschaftliches Seminar Ottobeuren}, booktitle = {Umwelt und Energie : Wirtschaftswissenschaftliches Seminar Ottobeuren}, editor = {Franz, Wolfgang and Ramser, Hans-J{\"u}rgen and Stadler, Manfred}, publisher = {Mohr Siebeck}, address = {T{\"u}bingen}, isbn = {978-3-16-149104-7}, pages = {247 -- 272}, language = {de} } @techreport{MuesgensSchulz, author = {M{\"u}sgens, Felix and Schulz, Walter}, title = {Energiereport IV: Die Entwicklung der Energiem{\"a}rkte bis zum Jahr 2030 - Energiewirtschaftliche Referenzprognose}, publisher = {Vulkan Verlag}, address = {Essen}, language = {de} } @misc{JansenStaffellKitzingetal., author = {Jansen, Malte and Staffell, Iain and Kitzing, Lena and Quoilin, Sylvain and Wiggelinkhuizen, Edwin and Bulder, Bernard and Riepin, Iegor and M{\"u}sgens, Felix}, title = {Offshore wind competitiveness in mature markets without subsidy}, series = {Nature Energy}, volume = {5}, journal = {Nature Energy}, number = {8}, issn = {2058-7546}, doi = {10.1038/s41560-020-0661-2}, pages = {614 -- 622}, language = {en} } @misc{BadeMuesgens, author = {Bade, Alexander and M{\"u}sgens, Felix}, title = {Verteilungsaspekte einer Harmonisierung der europ{\"a}ischen Klimaschutzmaßnahmen}, series = {Zeitschrift f{\"u}r Energiewirtschaft}, volume = {40}, journal = {Zeitschrift f{\"u}r Energiewirtschaft}, number = {1}, issn = {0343-5377}, doi = {10.1007/s12398-016-0170-y}, pages = {33 -- 40}, language = {de} } @misc{BadeMuesgens, author = {Bade, Alexander and M{\"u}sgens, Felix}, title = {Auswirkungen eines 'Wassertiefenbonus' bei Ausschreibungen f{\"u}r Windenergieanlagen auf See}, series = {ET Energiewirtschaftliche Tagesfragen}, volume = {66}, journal = {ET Energiewirtschaftliche Tagesfragen}, number = {10}, issn = {0013-743X}, pages = {25 -- 27}, language = {de} } @techreport{BadeGrowitschLienertetal., author = {Bade, Alexander and Growitsch, Christian and Lienert, Martin and M{\"u}sgens, Felix and Schmitz, Christoph and Wolf, A.}, title = {Aktionsprogramm Klimaschutz 2020: Konsequenzen potenzieller Kraftwerksstilllegungen}, publisher = {r2b energy consulting GmbH [u.a.]}, address = {K{\"o}ln ; Hamburg ; Cottbus}, pages = {48}, language = {de} } @techreport{BadeMuesgens, author = {Bade, Alexander and M{\"u}sgens, Felix}, title = {Warum brauchen wir eine st{\"a}rkere Harmonisierung der Energiepolitik in der EU?}, publisher = {r2b energy consulting GmbH [u.a.]}, address = {K{\"o}ln ; Cottbus}, language = {de} } @misc{NguyenMuesgens, author = {Nguyen, Thi Ngoc and M{\"u}sgens, Felix}, title = {A Meta-Analysis of Solar Forecasting Based on Skill Score}, series = {arXiv}, journal = {arXiv}, doi = {10.48550/arXiv.2208.10536}, pages = {1 -- 55}, abstract = {We conduct the first comprehensive meta-analysis of deterministic solar forecasting based on skill score, screening 1,447 papers from Google Scholar and reviewing the full texts of 320 papers for data extraction. A database of 4,687 points was built and analyzed with multivariate adaptive regression spline modelling, partial dependence plots, and linear regression. The marginal impacts on skill score of ten factors were quantified. The analysis shows the non-linearity and complex interaction between variables in the database. Forecast horizon has a central impact and dominates other factors' impacts. Therefore, the analysis of solar forecasts should be done separately for each horizon. Climate zone variables have statistically significant correlation with skill score. Regarding inputs, historical data and spatial temporal information are highly helpful. For intra-day, sky and satellite images show the most importance. For day-ahead, numerical weather predictions and locally measured meteorological data are very efficient. All forecast models were compared. Ensemble-hybrid models achieve the most accurate forecasts for all horizons. Hybrid models show superiority for intra-hour while image-based methods are the most efficient for intra-day forecasts. More training data can enhance skill score. However, over-fitting is observed when there is too much training data (longer than 2000 days). There has been a substantial improvement in solar forecast accuracy, especially in recent years. More improvement is observed for intra-hour and intra-day than day-ahead forecasts. By controlling for the key differences between forecasts, including location variables, our findings can be applied globally.}, language = {en} } @misc{JalboutGengeMuesgens, author = {Jalbout, Eddy and Genge, Lucien and M{\"u}sgens, Felix}, title = {H2Europe: an analysis of long-term hydrogen import-potentials from the MENA region}, series = {18th International Conference on the European Energy Market (EEM), 13-15 September 2022, Ljubljana, Slovenia}, journal = {18th International Conference on the European Energy Market (EEM), 13-15 September 2022, Ljubljana, Slovenia}, publisher = {IEEE}, address = {Piscataway, NJ}, isbn = {978-1-6654-0896-7}, issn = {2165-4093}, doi = {10.1109/EEM54602.2022.9921055}, pages = {1 -- 7}, abstract = {Our paper assesses the economic viability of green hydrogen exports from the middle east and north Africa to the EU in the long-term (for the year 2050). For this purpose, we simulate a techno-economic hydrogen supply chain based on generation from renewable energy sources. The chain of production, conversion, and transportation costs, in combination with potentials, yields a merit order of hydrogen supply. The paper focuses on one low-cost option for imports from the middle east and north Africa region. In addition, it provides a classification of additional options. We find that due to proximity, retrofitting and potentially even installing new pipelines from Morocco, Algeria and Tunisia could provide nearly half the expected European demand of 60 million tons p.a. by 2050. Based on our assumptions, the costs would be around 2 €/kgH 2 .}, language = {en} } @misc{RiepinSgarciuBerneckeretal., author = {Riepin, Iegor and Sgarciu, Smaranda and Bernecker, Maximilian and M{\"o}bius, Thomas and M{\"u}sgens, Felix}, title = {Grok It and Use It: Teaching Energy Systems Modeling}, series = {SSRN eLibrary}, journal = {SSRN eLibrary}, issn = {1556-5068}, doi = {10.2139/ssrn.4320978}, abstract = {This article details our experience developing and teaching an "Energy Systems Modeling" course, which sought to introduce graduate-level students to operations research, energy economics, and system modeling using the General Algebraic Modeling System (GAMS). In this paper, we focus on (i) the mathematical problems discussed in the course, (ii) the energy-related empirical interpretations of these mathematical problems, and (iii) the best teaching practices (i.e., our experiences regarding how to make the content interesting and accessible for students).}, language = {en} } @misc{WatermeyerMoebiusGrotheetal., author = {Watermeyer, Mira and M{\"o}bius, Thomas and Grothe, Oliver and M{\"u}sgens, Felix}, title = {A hybrid model for day-ahead electricity price forecasting: Combining fundamental and stochastic modelling}, series = {arXiv}, journal = {arXiv}, doi = {10.48550/arXiv.2304.09336}, pages = {1 -- 38}, abstract = {The accurate prediction of short-term electricity prices is vital for effective trading strategies, power plant scheduling, profit maximisation and efficient system operation. However, uncertainties in supply and demand make such predictions challenging. We propose a hybrid model that combines a techno-economic energy system model with stochastic models to address this challenge. The techno-economic model in our hybrid approach provides a deep understanding of the market. It captures the underlying factors and their impacts on electricity prices, which is impossible with statistical models alone. The statistical models incorporate non-techno-economic aspects, such as the expectations and speculative behaviour of market participants, through the interpretation of prices. The hybrid model generates both conventional point predictions and probabilistic forecasts, providing a comprehensive understanding of the market landscape. Probabilistic forecasts are particularly valuable because they account for market uncertainty, facilitating informed decision-making and risk management. Our model delivers state-of-the-art results, helping market participants to make informed decisions and operate their systems more efficiently.}, language = {en} } @misc{MuesgensOckenfels, author = {M{\"u}sgens, Felix and Ockenfels, Axel}, title = {Design von Informationsfeedback in Regelenergiem{\"a}rkten}, series = {Zeitschrift f{\"u}r Energiewirtschaft}, volume = {35}, journal = {Zeitschrift f{\"u}r Energiewirtschaft}, number = {4}, issn = {1866-2765}, doi = {10.1007/s12398-011-0062-0}, pages = {249 -- 256}, abstract = {Auf vielen kontinentaleurop{\"a}ischen Energiem{\"a}rkten werden derzeit die Regeln f{\"u}r das Feedback auf Regelenergiem{\"a}rkten diskutiert: welche Informationen zu vergangenen Auktionen sollen wann ver{\"o}ffentlicht werden? Dieser Artikel beleuchtet Vor- und Nachteile verschiedener Feedbackpolitiken am Beispiel der Schweizer Regelenergiem{\"a}rkte. Die Ver{\"o}ffentlichung des Grenzleistungspreises ist in der Regel zu empfehlen. Dies gilt jedoch nicht f{\"u}r weitere Informationen (insbesondere extramarginale Gebote). Die optimale Feedbackpolitik h{\"a}ngt allerdings vom jeweiligen Marktdesign und von der Marktstruktur ab}, language = {de} } @misc{KreuzMuesgens, author = {Kreuz, Sebastian and M{\"u}sgens, Felix}, title = {Asymmetric Diesel Retail Pricing Strategies: Depending on Brands and Population Densities?}, series = {Zeitschrift f{\"u}r Energiewirtschaft}, volume = {43}, journal = {Zeitschrift f{\"u}r Energiewirtschaft}, number = {2}, issn = {0343-5377}, doi = {10.1007/s12398-019-00252-x}, pages = {117 -- 130}, language = {en} } @techreport{EngelhornMuesgens, author = {Engelhorn, Thorsten and M{\"u}sgens, Felix}, title = {Why is Germany's energy transition so expensive? Quantifying costs from wind energy decentralisation}, publisher = {Brandenburgische Technische Universit{\"a}t}, address = {Cottbus ; Senftenberg}, pages = {35}, language = {en} } @techreport{RiepinMuesgens, author = {Riepin, Iegor and M{\"u}sgens, Felix}, title = {Seasonal Flexibility in the European Natural Gas Market}, publisher = {University of Cambridge, Energy Policy Research Group}, address = {Cambridge}, pages = {28}, language = {en} } @phdthesis{Muesgens, author = {M{\"u}sgens, Felix}, title = {The Economics of Wholesale Electricity Markets}, publisher = {Universit{\"a}t}, address = {K{\"o}ln}, pages = {VII, 119}, abstract = {Die Dissertation analysiert die {\"o}konomischen Zusammenh{\"a}nge und Wechselwirkungen auf Großhandelsm{\"a}rkten f{\"u}r Strom.}, language = {en} } @techreport{MuesgensNeuhoff, author = {M{\"u}sgens, Felix and Neuhoff, Karsten}, title = {Modelling Dynamic Constraints in Electricity Markets and the Costs of Uncertain Wind Output}, publisher = {University of Cambridge, Electricity Policy Research Group}, address = {Cambridge}, pages = {26}, language = {en} } @techreport{MuesgensRiepinPoudineh, author = {M{\"u}sgens, Felix and Riepin, Iegor and Poudineh, Rahmat}, title = {A Note on Climate Policy Negotiations at the Threshold of COP-21 in Paris}, pages = {6}, language = {en} }