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Volatility of electricity price in Denmark and Sweden
Mälardalen University, School of Business, Society and Engineering, Future Energy Center. China Univ Petr, Beijing, Peoples R China.
Mälardalen University, School of Business, Society and Engineering, Future Energy Center.ORCID iD: 0000-0002-6279-4446
Mälardalen University, School of Business, Society and Engineering, Future Energy Center.ORCID iD: 0000-0003-4589-7045
Mälardalen University, School of Business, Society and Engineering, Future Energy Center.ORCID iD: 0000-0001-8191-4901
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2019 (English)In: INNOVATIVE SOLUTIONS FOR ENERGY TRANSITIONS / [ed] Yan, J Yang, HX Li, H Chen, X, ELSEVIER SCIENCE BV , 2019, p. 4331-4337Conference paper, Published paper (Refereed)
Abstract [en]

Under the pressure of global environmental climate change, all countries in the world are developing renewable energy such as hydropower, wind energy, and solar energy As a result, the electricity price varies in different patterns depending on the penetration of renewable energy. In this paper, a non-parametric model is employed to analyze the historical data of electricity spot price from Danish price areas of the Nord Pool (with high percentage of wind power), Swedish price areas of the Nord Pool (with high percentage of hydropower) and PJM market (with little renewable energy penetrated). The objective is to deeply understand the influence of renewable energies on electricity price volatility. It is found that electricity prices are more stable in Swedish price areas as hydropower is a more stable energy source. The electricity price in PJM market is also comparatively stable, only more volatile than Swedish market, as fossil fuels are dominant energy resources. For Danish price areas, the volatility of electricity prices is clearly affected by wind power, which is a highly intermittent energy resource.

Place, publisher, year, edition, pages
ELSEVIER SCIENCE BV , 2019. p. 4331-4337
Series
Energy Procedia, ISSN 1876-6102 ; 158
Keywords [en]
volatility of elecctricity price, electricity spot price, penetration of renewable energy, electricity market
National Category
Energy Engineering
Identifiers
URN: urn:nbn:se:mdh:diva-44854DOI: 10.1016/j.egypro.2019.01.788ISI: 000471031704106OAI: oai:DiVA.org:mdh-44854DiVA, id: diva2:1336953
Conference
10th International Conference on Applied Energy (ICAE), AUG 22-25, 2018, Hong Kong, HONG KONG
Available from: 2019-07-11 Created: 2019-07-11 Last updated: 2019-07-11Bibliographically approved

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Li, HailongWallin, FredrikAvelin, Anders

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