German Energy Market Fallout from the Japanese Earthquake

Luigi Grossi and Michael Waterson

CAGE Online Working Paper Series from Competitive Advantage in the Global Economy (CAGE)

Abstract: 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 significant shift in the underlying power generation structure in Germany. This provides a very useful natural experiment on the impact of changing proportions of conventional fuel inputs to power production, helping us to see how changed proportions in future as a result of policy moves in favour of renewables are likely to impact. We find through exploration of a conventional demand- supply framework that despite the swift, significant change, the main impact was a relatively modest increase in prices occasioned by a shift of the supply curve; there were no appreciable quantity effects on the market, such as power outages, despite some views that the impacts would be significant.

Keywords: Atomausstieg; Demand-supply framework; German power market; nuclear power; renewables (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-ene
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Persistent link: https://EconPapers.repec.org/RePEc:cge:wacage:157

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