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[An analytic model of an environmentally friendly electricity market]

  • Amundsen, Eirik S.
  • Baldursson, Fridrik M.

There is concern that prices in a market for Green Certificates (GCs) primarily based on volatile wind power will fluctuate excessively, leading to corresponding volatility of electricity prices. Applying a rational expectations simulation model of competitive storage and speculation of GCs the paper shows that the introduction of banking of GCs may reduce price volatility considerably and lead to increased social surplus. Banking lowers average prices and is therefore not necessarily to the benefit of “green producers”. Proposed price bounds on GC-prices will reduce the importance of banking and even of the GC system itself.

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File URL: http://mpra.ub.uni-muenchen.de/10772/1/MPRA_paper_10772.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10772.

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Date of creation: 2003
Date of revision:
Publication status: Published in Icelandic Journal of Science and Mathematics 2.1(2003): pp. 1-9
Handle: RePEc:pra:mprapa:10772
Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
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Web page: http://mpra.ub.uni-muenchen.de

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  1. Angus Deaton & Guy Laroque, 1990. "On The Behavior of Commodity Prices," NBER Working Papers 3439, National Bureau of Economic Research, Inc.
  2. repec:cup:cbooks:9780521326162 is not listed on IDEAS
  3. Morthorst, P. E., 2000. "The development of a green certificate market," Energy Policy, Elsevier, vol. 28(15), pages 1085-1094, December.
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