This study aims to explore the relationship between renewable energies and the electric power spot price of the Japan Electric Power Exchange (JEPX). By using panel data analysis and proxy modeling, this work attempts to estimate how renewable energies (displayed through the proxies) and other factors influence the electric power spot price in Japan. Based on an analysis of the estimations, some policy implications have been proposed, such as to incorporate weather information into the price forecast, or to provide a guide to more effectively transact on the JEPX.
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