The impact of the German response to the Fukushima earthquake
Luigi Grossi (),
Sven Heim and
Energy Economics, 2017, vol. 66, issue C, 450-465
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.
Keywords: Electricity markets; Energy transition; Nuclear phase-out; Renewables (search for similar items in EconPapers)
JEL-codes: L51 L94 Q41 Q48 Q54 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:66:y:2017:i:c:p:450-465
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