The Nexus between Wholesale Electricity Prices and the Share of Electricity Production from Renewables: An Analysis with and without the Impact of Time of Distress
Balázs Herczeg,
Éva Pintér
Abstract:The continuous integration of renewable energy sources into the EU’s energy mix is reshaping the electricity market dynamics mainly due to the merit order mechanism affecting wholesale electricity prices (WHEP). This article aims to review the wholesale electricity market mechanism, identify the key factors affecting WHEP, and assess the extent of their contributions under different circumstances. Time series datasets, consisting of monthly observations of commodity prices and energy data regarding 25 EU membe… Show more
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