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A partial-equilibrium model of the electricity market
(Industriell ekonomi och organisation)ORCID iD: 0000-0001-7072-3640
Mälardalen University, School of Business, Society and Engineering, Industrial Economics and Organisation. (Industriell ekonomi och organisation)ORCID iD: 0000-0001-5509-2983
Mälardalen University, School of Business, Society and Engineering, Industrial Economics and Organisation.ORCID iD: 0000-0002-1545-3956
2021 (English)Conference paper, Published paper (Refereed)
Abstract [en]

We present a model of the electricity market which has a simple connection to the rest of the economy, due to a quasi-linear utility function.A key stochastic parameter shifts electricity demand between points of time.The correlation between these demand shifts and the variation of supply from variable renewable electricity (VRE) sources is crucial for the equilibrium price of electricity.Based on these equilibria we compute the value factors of VREs, as well as producer and consumer surpluses.An outcome of the model analysis is that value factors of VREs decrease as their penetration gets higher, which is also commonly found empirically, but only up to a point.

Place, publisher, year, edition, pages
2021.
National Category
Economics
Research subject
Industrial Economics and Organisations
Identifiers
URN: urn:nbn:se:mdh:diva-55391OAI: oai:DiVA.org:mdh-55391DiVA, id: diva2:1577272
Conference
IAEE 2021 Online International Conference (June 7 - 9, 2021)
Available from: 2021-07-02 Created: 2021-07-02 Last updated: 2021-07-07Bibliographically approved

Open Access in DiVA

A partial-equilibrium model of the electricity market(584 kB)438 downloads
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File name FULLTEXT01.pdfFile size 584 kBChecksum SHA-512
209083b58f18b1b441fe91278f65d9d896338645a9088fde5659f4c997cb83d0514f7ebd30bc6ac8c8fa99e164fd41cb19a6e934788ff16d0ab5617b952e7e3d
Type fulltextMimetype application/pdf

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https://iaee2021online.org/download/contribution/fullpaper/273/273_fullpaper_20210601_055551.pdf

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Eriksson, ClasLindén, JohanPapahristodoulou, Christos
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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf