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How Can Renewable Portfolio Standards Lower Electricity Prices?

  • Fischer, Carolyn

    ()

    (Resources for the Future)

Some studies of renewable portfolio standards find that regulations increase generation costs; others find that reduced demand for nonrenewable energy sources lowers natural gas prices and that electricity prices follow. This paper presents reasoning for why these predictions can vary in the direction as well as in the magnitude of their effects. The driving factors are the relative elasticities of electricity supply from both fossil and renewable energy sources. The availability of other baseload generation is another factor, whereas demand elasticity influences only the magnitude of the price effects, not the direction of those effects.

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File URL: http://www.rff.org/RFF/documents/RFF-DP-06-20.pdf
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Paper provided by Resources For the Future in its series Discussion Papers with number dp-06-20.

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Date of creation: 05 May 2006
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Handle: RePEc:rff:dpaper:dp-06-20
Contact details of provider: Web page: http://www.rff.org

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  1. Fischer, Carolyn & Newell, Richard, 2004. "Environmental and Technology Policies for Climate Mitigation," Discussion Papers dp-04-05, Resources For the Future.
  2. Palmer, Karen & Burtraw, Dallas, 2005. "Cost-effectiveness of renewable electricity policies," Energy Economics, Elsevier, vol. 27(6), pages 873-894, November.
  3. Krichene, Noureddine, 2002. "World crude oil and natural gas: a demand and supply model," Energy Economics, Elsevier, vol. 24(6), pages 557-576, November.
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