期刊
ENERGY ECONOMICS
卷 66, 期 -, 页码 450-465出版社
ELSEVIER
DOI: 10.1016/j.eneco.2017.07.010
关键词
Electricity markets; Energy transition; Nuclear phase-out; Renewables
类别
资金
- EPSRC [EP/K002228]
The German response to the Fukushima nuclear power plant incident was possibly the most significant change of policy towards nuclear power outside Japan, leading to a sudden and very substantial shift in the underlying power generation structure in Germany, an enthusiastic leading proponent of renewable power. This provides a very useful experiment on the impact of a supply shock in the context of increasing relative generation by renewable compared to conventional fuel inputs into power production. Our quasi-experimental exploration of a modified demand-supply framework finds that despite the swift, unpredicted change in nuclear power, the main impact was a significant average increase in prices, surprisingly particularly at low residual load levels. (C) 2017 Elsevier B.V. All rights reserved.
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