FG Energiewirtschaft
Refine
Year of publication
Document Type
- Scientific journal article peer-reviewed (40)
- Conference Proceeding (29)
- Report (23)
- Scientific journal article not peer-reviewed (13)
- Part of a book (chapter) (12)
- Article (11)
- Conference publication peer-reviewed (8)
- Doctoral thesis (4)
- Book (1)
- Book (publisher) (1)
Way of publication
- Open Access (19)
Keywords
- Energy markets and pricing (8)
- Energiebeschaffung (4)
- Prognose (4)
- Renewable energy (4)
- Uncertainty (4)
- Energiekennzahlen (3)
- Energiewende (3)
- Erneuerbare Energien (3)
- Germany (3)
- Lastgang (3)
Institute
Operators seek to achieve economic objectives when dispatching assets in electricity markets subject to asset’s technical as well as market constraints. To ensure optimal operation in energy markets, the parametric uncertainty of key market drivers such as wholesale and balancing services prices should be investigated. The research problem to be covered in the paper deals with the revenue maximization of a price-taker battery storage power plant participating in competitive wholesale electricity and balancing markets. The paper uses a multi-stage optimization approach to model uncertainty of a battery energy storage system participating in the Spanish Market. The study reveals that a significant benefit of using stochastic solution (over 5 percent) is obtained when the role of battery energy storage system is analyzed for 2020.
The merit order effect describes the lowering of the average wholesale electricity price due to increased capacity of renewable energies. This effect has been observed in many places. While it is beneficial for consumers, it has triggered concerns about the economic viability of legacy plants. Is this merit order effect a permanent feature of high shares of renewable energy, or merely a transitory phase? This article develops a simple theoretical model to shed light on this question. It introduces intermittent renewable energies into a conventional mix of base load and peak load and investigates the effect when base and peak load remain unchanged in the short-term, and when they fully adjust in the long-term. We find that the merit order effect is a temporary phenomenon that is caused by the slow pace of capacity adjustments. We also find that the introduction of renewables has a mild beneficial long-term effect when base load is provided monopolistically, as renewables compete with base load to a limited extent. Consequently, concerns about the adverse consequences for conventional power plants resulting from renewable capacity are only partially justified. While in the short-term the generation portfolio suffers from “stranded assets”, market forces will gradually reduce overcapacity. We also confirm that renewable expansion can be complemented by energy-only markets to incentivize efficient investment in conventional capacity.
Auctions have become the primary instrument for promoting renewable energy around the world. However, the data published on such auctions are typically limited to aggregated information (e.g., total awarded capacity, average payments). These data constraints hinder the evaluation of realisation rates and other relevant auction dynamics. In this study, we present an algorithm to overcome these data limitations in German renewable energy auction programme by combining publicly available information from four different databases. We apply it to the German solar auction programme and evaluate auctions using quantitative methods. We calculate realisation rates and—using correlation and regression analysis—explore the impact of PV module prices, competition, and project and developer characteristics on project realisation and bid values. Our results confirm that the German auctions were effective. We also found that project realisation took, on average, 1.5 years (with 28% of projects finished late and incurring a financial penalty), nearly half of projects changed location before completion (again, incurring a financial penalty) and small and inexperienced developers could successfully participate in auctions.