The impact of heat waves on electricity spot markets
Anna Pechan and
Klaus Eisenack ()
Energy Economics, 2014, vol. 43, issue C, 63-71
Thermoelectric power plants depend on cooling water drawn from water bodies. Low river run-off and/or high water temperatures limit a plant's production capacity. This problem may intensify with climate change. Our study quantifies the impact of forced capacity reductions on market prices, production costs, consumer and producer surplus, as well as emissions by means of a bottom-up power generation system model. First, we simulate the German electricity spot market during the heat wave of 2006. Then we conduct a sensitivity study that accounts for future climatic and technological conditions.
Keywords: Electricity market; Heat wave; Germany; Climate change (search for similar items in EconPapers)
JEL-codes: Q41 Q54 (search for similar items in EconPapers)
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Working Paper: The impact of heat waves on electricity spot markets (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:43:y:2014:i:c:p:63-71
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