Modeling the Merit Order Curve of the European Energy Exchange Power Market in Germany
An updating study concerning the analysis and modeling of the European Energy Exchange power market in Germany is urgently called for due to the dramatic transformations of the market in recent years. Based on careful data research, this paper provides a consolidated and detailed view concerning the...
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| Veröffentlicht in: | IEEE transactions on power systems 2013-08, Vol.28 (3), p.3155-3164 |
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| container_title | IEEE transactions on power systems |
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| creator | Yang He Hildmann, Marcus Herzog, Florian Andersson, Goran |
| description | An updating study concerning the analysis and modeling of the European Energy Exchange power market in Germany is urgently called for due to the dramatic transformations of the market in recent years. Based on careful data research, this paper provides a consolidated and detailed view concerning the development of the market and its mechanisms. This paper proposes a new analytical model of the merit order curve of the market. The model is designed to capture the occurrences of negative prices. It considers fuel prices and CO 2 prices, and by taking into account the structural changes of the market such as the increasing energy in-feed from renewable sources and the moratorium of nuclear power plants in Germany, the model is robust to these changes of market fundamentals. The proposed merit-order-curve model constitutes a critical component in realistic fundamental models for the European Energy Exchange power market. |
| doi_str_mv | 10.1109/TPWRS.2013.2242497 |
| format | Article |
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Based on careful data research, this paper provides a consolidated and detailed view concerning the development of the market and its mechanisms. This paper proposes a new analytical model of the merit order curve of the market. The model is designed to capture the occurrences of negative prices. It considers fuel prices and CO 2 prices, and by taking into account the structural changes of the market such as the increasing energy in-feed from renewable sources and the moratorium of nuclear power plants in Germany, the model is robust to these changes of market fundamentals. The proposed merit-order-curve model constitutes a critical component in realistic fundamental models for the European Energy Exchange power market.</description><subject>Analytical models</subject><subject>Coal</subject><subject>Data models</subject><subject>Europe</subject><subject>Forecasting</subject><subject>forward contracts and options pricing</subject><subject>fundamental modeling</subject><subject>Load modeling</subject><subject>merit order curve</subject><subject>Power generation</subject><subject>power market</subject><subject>spot prices</subject><subject>supply curve</subject><issn>0885-8950</issn><issn>1558-0679</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2013</creationdate><recordtype>article</recordtype><sourceid>RIE</sourceid><recordid>eNo9kMtOwzAQAC0EEqXwA3DxD6Ss7TiOj6gKLVKjVlDgGBl73QbapHJSoH9P-hCnPczOajWE3DIYMAb6fj57f34ZcGBiwHnMY63OSI9JmUaQKH1OepCmMkq1hEty1TSfAJB0oEfe8trhqqwWtF0izTGULZ0Gh4EOt-Ebae0PINuGeoOmolmFYbGj2a9dmmqBdFb_dLu5CV_Y0rKiIwxrU-2uyYU3qwZvTrNPXh-z-XAcTaajp-HDJLKCJW1kLEjHndMWNENQ4EGgN_pDxp6ZxDqnVPdzDMIyoTC1zu-RcAaVVI6JPuHHuzbUTRPQF5tQrk3YFQyKfZniUKbYlylOZTrp7iiViPgvJLHiPFHiD0QCYKM</recordid><startdate>20130801</startdate><enddate>20130801</enddate><creator>Yang He</creator><creator>Hildmann, Marcus</creator><creator>Herzog, Florian</creator><creator>Andersson, Goran</creator><general>IEEE</general><scope>97E</scope><scope>RIA</scope><scope>RIE</scope><scope>AAYXX</scope><scope>CITATION</scope></search><sort><creationdate>20130801</creationdate><title>Modeling the Merit Order Curve of the European Energy Exchange Power Market in Germany</title><author>Yang He ; Hildmann, Marcus ; Herzog, Florian ; Andersson, Goran</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c316t-ac05d2dd9c091e070f03efa9b54f1a6cdd77950403c137e8cdfb54f3dae757d13</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2013</creationdate><topic>Analytical models</topic><topic>Coal</topic><topic>Data models</topic><topic>Europe</topic><topic>Forecasting</topic><topic>forward contracts and options pricing</topic><topic>fundamental modeling</topic><topic>Load modeling</topic><topic>merit order curve</topic><topic>Power generation</topic><topic>power market</topic><topic>spot prices</topic><topic>supply curve</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Yang He</creatorcontrib><creatorcontrib>Hildmann, Marcus</creatorcontrib><creatorcontrib>Herzog, Florian</creatorcontrib><creatorcontrib>Andersson, Goran</creatorcontrib><collection>IEEE All-Society Periodicals Package (ASPP) 2005-present</collection><collection>IEEE All-Society Periodicals Package (ASPP) 1998-Present</collection><collection>IEEE Electronic Library (IEL)</collection><collection>CrossRef</collection><jtitle>IEEE transactions on power systems</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext_linktorsrc</fulltext></delivery><addata><au>Yang He</au><au>Hildmann, Marcus</au><au>Herzog, Florian</au><au>Andersson, Goran</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Modeling the Merit Order Curve of the European Energy Exchange Power Market in Germany</atitle><jtitle>IEEE transactions on power systems</jtitle><stitle>TPWRS</stitle><date>2013-08-01</date><risdate>2013</risdate><volume>28</volume><issue>3</issue><spage>3155</spage><epage>3164</epage><pages>3155-3164</pages><issn>0885-8950</issn><eissn>1558-0679</eissn><coden>ITPSEG</coden><abstract>An updating study concerning the analysis and modeling of the European Energy Exchange power market in Germany is urgently called for due to the dramatic transformations of the market in recent years. 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| subjects | Analytical models Coal Data models Europe Forecasting forward contracts and options pricing fundamental modeling Load modeling merit order curve Power generation power market spot prices supply curve |
| title | Modeling the Merit Order Curve of the European Energy Exchange Power Market in Germany |
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