The plunge in German electricity futures prices - Analysis using a parsimonious fundamental model
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- 作者：Thomas Kallabis ; Thomas.Kallabis@uni-due.de" class="auth_mail" title="E-mail the corresponding author ; ; Christian Pape Christian.Pape@uni-due.de" class="auth_mail" title="E-mail the corresponding author ; Christoph Weber Christoph.Weber@uni-due.de" class="auth_mail" title="E-mail the corresponding author
- 关键词：Electricity generation ; Investment ; Market structure ; Pricing ; Western European countries
- 刊名：Energy Policy
- 出版年：2016
- 出版时间：August 2016
- 年：2016
- 卷：95
- 期：Complete
- 页码：280-290
- 全文大小：1020 K
文摘
We build a parsimonious fundamental model based on a piecewise linear bid stack.
We use the model to investigate impact factors for the plunge in German futures prices.
Largest impact by CO2 price developments followed by demand and renewable feed-in.
Power plant operating profits strongly affected by demand and renewables.
We argue that stabilizing CO2 emission prices could provide better market signals.