Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/267803 
Erscheinungsjahr: 
2022
Schriftenreihe/Nr.: 
Working Paper Series in Production and Energy No. 66
Verlag: 
Karlsruhe Institute of Technology (KIT), Institute for Industrial Production (IIP), Karlsruhe
Zusammenfassung: 
Renewables introduce new weather-induced patterns and risks for market participants active in the energy commodity sector. We present a flexible framework for power spot prices that is capable of incorporating a weather model for the joint distribution of local weather conditions. This not only allows us to make use of a long history of local weather data in the calibration procedure but also makes it possible to assess how changes in the renewable generation portfolio impact the characteristics of future wholesale spot prices. Empirical tests demonstrate the model's capability to reproduce salient features of market variables. We furthermore show why our model offers unique benefits for market players compared to existing approaches.
Persistent Identifier der Erstveröffentlichung: 
Sonstige Angaben: 
The paper is a revised and extended version of the earlier paper Hain, Martin; Schermeyer, Hans; Uhrig-Homburg, Marliese; Fichtner, Wolf (2017): An Electricity Price Modeling Framework for Renewable- Dominant Markets. Karlsruhe (Working Paper Series in Production and Energy, 23). https://doi.org/10.5445/IR/1000071235
Dokumentart: 
Working Paper

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