German Energy Market Fallout from the Japanese Earthquake
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.
|Date of creation:||2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +44 (0) 2476 523202
Fax: +44 (0) 2476 523032
Web page: http://www2.warwick.ac.uk/fac/soc/economics/research/centres/cage/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bushnell, James & Chong, Howard G. & Mansur, Erin T., 2009.
"Profiting from Regulation: An Event Study of the EU Carbon Market,"
Staff General Research Papers
13139, Iowa State University, Department of Economics.
- James B. Bushnell & Howard Chong & Erin T. Mansur, 2009. "Profiting from Regulation: An Event Study of the EU Carbon Market," NBER Working Papers 15572, National Bureau of Economic Research, Inc.
- Bushnell, James & Mansur, Erin T. & Chong, Howard G., 2010. "Profiting from Regulation: An Event Study of the EU Carbon Market," Staff General Research Papers 32737, Iowa State University, Department of Economics.
- : Enzo Fanone & Andrea Gamba & Marcel Prokopczuk, 2011.
"The Case of Negative Day-Ahead Electricity Prices,"
wpn11-01, Warwick Business School, Finance Group.
- Barrett, W Brian & Heuson, Andrea J & Kolb, Robert W, 1986. " The Effect of Three Mile Island on Utility Bond Risk Premia: A Note," Journal of Finance, American Finance Association, vol. 41(1), pages 255-61, March.
- Betzer, André & Doumet, Markus & Rinne, Ulf, 2011.
"How Policy Changes Affect Shareholder Wealth: The Case of the Fukushima Daiichi Nuclear Disaster,"
IZA Discussion Papers
5896, Institute for the Study of Labor (IZA).
- André Betzer & Markus Doumet & Ulf Rinne, 2013. "How policy changes affect shareholder wealth: the case of the Fukushima Dai-ichi nuclear disaster," Applied Economics Letters, Taylor & Francis Journals, vol. 20(8), pages 799-803, May.
- André Betzer & Markus Doumet & Ulf Rinne, 2011. "How Policy Changes Affect Shareholder Wealth: The Case of the Fukushima Daiichi Nuclear Disaster," Schumpeter Discussion Papers sdp11011, Universitätsbibliothek Wuppertal, University Library.
- Bowen, Robert M. & Castanias, Richard P. & Daley, Lane A., 1983. "Intra-Industry Effects of the Accident at Three Mile Island," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 18(01), pages 87-111, March.
- Hill, Joanne & Schneeweis, Thomas, 1983. " The Effect of Three Mile Island on Electric Utility Stock Prices: A Note," Journal of Finance, American Finance Association, vol. 38(4), pages 1285-92, September.
- Ketterer, Janina C., 2014.
"The impact of wind power generation on the electricity price in Germany,"
Elsevier, vol. 44(C), pages 270-280.
- Janina Ketterer, 2012. "The Impact of Wind Power Generation on the Electricity Price in Germany," Ifo Working Paper Series Ifo Working Paper No. 143, Ifo Institute for Economic Research at the University of Munich.
- Kawashima, Shingo & Takeda, Fumiko, 2012. "The effect of the Fukushima nuclear accident on stock prices of electric power utilities in Japan," Energy Economics, Elsevier, vol. 34(6), pages 2029-2038.
- Huenteler, Joern & Schmidt, Tobias S. & Kanie, Norichika, 2012. "Japan's post-Fukushima challenge – implications from the German experience on renewable energy policy," Energy Policy, Elsevier, vol. 45(C), pages 6-11.
- Brown, Stephen J. & Warner, Jerold B., 1985. "Using daily stock returns : The case of event studies," Journal of Financial Economics, Elsevier, vol. 14(1), pages 3-31, March.
- Robert Ferstl & Sebastian Utz & Maximilian Wimmer, 2012. "The Effect of the Japan 2011 Disaster on Nuclear and Alternative Energy Stocks Worldwide: An Event Study," BuR - Business Research, German Academic Association for Business Research, vol. 5(1), pages 25-41, May.
- Fields, M. Andrew & Janjigian, Vahan, 1989. "The effect of Chernobyl on electric-utility stock prices," Journal of Business Research, Elsevier, vol. 18(1), pages 81-87, January.
- Lee, Chien-Chiang & Chiu, Yi-Bin, 2011. "Electricity demand elasticities and temperature: Evidence from panel smooth transition regression with instrumental variable approach," Energy Economics, Elsevier, vol. 33(5), pages 896-902, September.
When requesting a correction, please mention this item's handle: RePEc:cge:wacage:157. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jane Snape)
If references are entirely missing, you can add them using this form.