Renew. Energy Environ. Sustain.
Volume 1, 2016
|Number of page(s)||4|
|Published online||05 July 2016|
Using quantile regression to analyze the effect of renewables on EEX price formation
1 Department of Industrial Economics and Technology Management, Norwegian University of Science and Technology, Norway
2 Institute for Operations Research and Computational Finance, University of St. Gallen, Switzerland
⁎ e-mail: Lars.i.Hagfors@iot.ntnu.no
This paper develops fundamental quantile regression models for the German electricity market. The main focus of this work is to analyze the impact of renewable energies, wind and photovoltaic, on the formation of day-ahead electricity prices for all trading periods in the EEX. We find that the renewable energy sources overall has a mild price dampening effect, and that the negative prices often attributed to wind power is a rare event that mainly occurs during nighttime periods of unusually low price and demand.
© L. I. Hagfors et al., published by EDP Sciences, 2016
This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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