Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/172835 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
EWI Working Paper No. 17/05
Verlag: 
Institute of Energy Economics at the University of Cologne (EWI), Köln
Zusammenfassung: 
Restricted participation in sequential markets may cause high price volatility and welfare losses. In this paper we therefore analyze the drivers of restricted participation in the German intraday auctin which is a short-term electricity market with quarter-hourly products. Applying a fundamental electricity market model with 15-minute temporal resolution, we identify the lack of sub-hourly market coupling being the most relevant driver and restricted participation. We derive a proxy for price volatility and find that full market coupling may trigger quarter-hourly price valatility to decrease by a factor close to four.
Schlagwörter: 
sequential electricity markets
short-term market dynamics
electricity market interaction
short-term price formation
restricted market participation
price volatility
JEL: 
C13
C51
D44
D47
L94
Q21
Q41
Dokumentart: 
Working Paper

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