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Ring the Alarm! Electricity Markets, Renewables, and the Pandemic

David Benatia

No 2020-22, Working Papers from Center for Research in Economics and Statistics

Abstract: The pandemic's impacts on European electricity markets have been enormous, especially in countries with abundant near-zero marginal cost of production like France. This article provides an in-depth quantitative study of the impacts of the crisis on the French electricity sector. During the lockdown episode, France has experienced unparalleled demand reductions (-12%) and energy price falls (-40%) resulting in revenue losses of 1.2 billion € (-45%) for market participants. This paper argues that the observed market outcomes during the crisis are somehow indicative of outcomes in a future with abundant renewable power, where prices will fall in a more sustainable way.

Keywords: Energy Transition; COVID-19; Demand; Electricity Markets (search for similar items in EconPapers)
JEL-codes: L94 Q02 Q41 Q47 (search for similar items in EconPapers)
Pages: 54 pages
Date: 2020-09-30, Revised 2020-11-09
New Economics Papers: this item is included in nep-ene and nep-reg
References: Add references at CitEc
Citations: View citations in EconPapers (4)

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http://crest.science/RePEc/wpstorage/2020-22.pdf CREST working paper version (application/pdf)

Related works:
Journal Article: Ring the alarm! Electricity markets, renewables, and the pandemic (2022) Downloads
Working Paper: Ring the alarm! Electricity markets, renewables, and the pandemic (2022) Downloads
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