Will the energy-only market collapse? On market dynamics in low-carbon electricity systems

Georg Thomaßen, Christian Redl and Thomas Bruckner

Renewable and Sustainable Energy Reviews, 2022, vol. 164, issue C

Abstract: While the technical feasibility of power systems based on renewables has been established, there are concerns that a system with high shares of variable renewable electricity cannot be achieved through an energy-only market. At the root of these concerns is the merit order effect, which describes the price-depressing effect stemming from the deployment of wind and solar.

Keywords: Market design; Demand response; Energy-only market; Storage; Electrification; Decarbonization; Merit-order effect; Operating reserve demand curve (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1016/j.rser.2022.112594

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