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

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  • Thomaßen, Georg
  • Redl, Christian
  • Bruckner, Thomas

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.

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  • Thomaßen, Georg & Redl, Christian & Bruckner, Thomas, 2022. "Will the energy-only market collapse? On market dynamics in low-carbon electricity systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 164(C).
  • Handle: RePEc:eee:rensus:v:164:y:2022:i:c:s1364032122004907
    DOI: 10.1016/j.rser.2022.112594
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