Is green energy expensive? Empirical evidence from the Spanish electricity market

Energy Policy

Volumn 69, Issue , 2014, Pages 205-215

  Ciarreta, Aitor ^a   Espinosa, Maria Paz ^a   Pizarro Irizar, Cristina ^a  

^a UNIVERSITY OF THE BASQUE COUNTRY UPV EHU   (Spain)

Author keywords

Electricity market; Energy policy; Feed in tariffs; Merit order effect; Renewable energy

Indexed keywords

ELECTRIC INDUSTRY; ENERGY POLICY; POWER MARKETS; SOLAR POWER GENERATION; WIND POWER;

ECONOMIC PERSPECTIVE; ELECTRICITY SYSTEM; FEED-IN TARIFF; ORDERING EFFECTS; RENEWABLE CAPACITY; RENEWABLE ENERGIES; SOLAR PHOTOVOLTAICS; SPANISH ELECTRICITY MARKETS;

COSTS;

ALTERNATIVE ENERGY; ELECTRICITY SUPPLY; EMPIRICAL ANALYSIS; ENERGY POLICY; INCENTIVE; PHOTOVOLTAIC SYSTEM; RENEWABLE RESOURCE; SOLAR POWER; WIND POWER;

SPAIN;

EID: 84899080252     PISSN: 03014215     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.enpol.2014.02.025     Document Type: Article

References (50)

1. BGBL, 2011. Gesetz zur Neuregelung des Rechtsrahmens für die Förderung der Stromerzeugung aus erneuerbaren Energien (Act on the amendment of the legal framework for the promotion of electricity generation from renewable energies). Bundesgesetzblatt (BGBL), N. 42(1), 1634-1678. August 4, 2011.
2. Bode, S., 2006. On the impact of renewable energy support schemes on power prices. Institute of International Economics, Hamburg (HWWI) Research Paper, No. 4-7.
3. BOE, 2004. Royal Decree 436/2004 of 12 March (BOE 27.03.2004), No. 75, pp. 13217-13238.
4. BOE, 2007. Royal Decree 661/2007 of 25 May (BOE 26.05.2007), No. 126, pp. 22846-22886.
5. BOE, 2010a. Royal Decree 1614/2010 of 7 December (BOE 8.12.2010), No. 298, pp. 101853-101859.
6. BOE, 2010b. Royal Decree-law 14/2010 of 23 December (BOE 24.12.2010), No. 312, pp. 106386-106394.
7. BOE, 2012. Royal Decree-Law 1/2012 of 27 January (BOE 28.01.2012), No. 24, pp. 8068-8072.
8. BOE, 2013a. Royal Decree-Law 2/2013 of 1 February (BOE 02.02.2013), No. 29, pp. 9072-9077.
9. BOE, 2013b. Royal Decree-Law 9/2013 of 12 July (BOE 13.07.2013), No. 167, pp. 52106-52147.
10. Ciarreta A., Espinosa M.P., Pizarro-Irizar C. The Effect of renewable energy in the spanish electricity market. Lect. Notes Inf. Technol. 2012, 9:431-436.
11. Ciarreta A., Espinosa M.P., Pizarro-Irizar C. Efecto de la energía renovable en el mercado diario de electricidad. escenario 2020. Cuad. Econ. ICE 2012, 83:101-116.
12. Ciarreta, A., Espinosa, M.P., Pizarro-Irizar, C., 2013. Switching from feed-in tariffs to a tradable green certificate market. Presented at the 8th Congress of the Spanish Association for Energy Economics (AEEE), Valencia, Spain. 17th-18th January, 2013.
13. Cludius, J., Hermann, H., Matthes, F.C., 2013. The merit order effect of wind and photovoltaic electricity generation in Germany 2008-2012. Centre for Energy and Environmental Markets (CEEM), Working Paper 3-2013.
14. CNE, 2012. Report on the development of competition in gas and electricity markets. Part 1: Executive summary and regulatory Proposals. Period 2008-2010 and Preview 2011. Comisión Nacional de Energía (CNE) - National Energy Commission. September 13th, 2012.
15. DECC, 2012. Feed-in tariffs scheme: consultation on Comprehensive Review Phase 1-tariffs for solar PV. Department of Energy and Climate Change (DECC), UK Government. May 24, 2012.
16. EEG, 2012. Gesetz zur Neuregelung des Rechtsrahmens für die Förderung der Stromerzeugung aus erneuerbaren Energien (EEG) - Amendment of the Renewable Energy Sources Act.
17. Espinosa M.P. An austerity-driven energy reform. Span. Econ. Financ. Outlook (SEFO) 2013, 2(5):51-61.
18. Espinosa M.P., Pizarro-Irizar C. Políticas para la reducción del déficit tarifario. Pap. Econ. Esp. 2012, 134:117-126.
19. Felder F.A. Examining electricity price suppression due to renewable resources and other grid investments. Electr. J. 2011, 24(4):34-46.
20. Gelabert L., Labandeira X., Linares P. An ex-post analysis on the effect of renewables and cogeneration on Spanish electricity prices. Energy Econ. 2011, 33:S59-S65.
21. Jensen S.G., Skytte K. Interactions between the power and green certificate markets. Energy Policy 2002, 30(5):425-435.
22. Jónsson T., Pinson P., Madsen H. On the market impact of wind energy forecasts. Energy Econ. 2010, 32:313-320.
23. JORF, 2011. Arrêté du 4 mars 2011 fixant les conditions d'achat de l'électricité produite par les installations utilisant l'énergie radiative du soleil telles que visées au 3° de l'article 2 du décret n° 2000-1196 du 6 décembre 2000. J. Off. Répub. Fr. (JORF) 54 (March (9)), 4218-4227.
24. Lesser J.A., Sue X. Design of an economically efficient feed-in tariff structure for renewable energy development. Energy Policy 2008, 36:981-990.
25. Martin, K., 2004. Thought experiment: how PV reduces wholesale power prices in New England. Photon International.
26. ME, 2013. Directive to Ontario Power Authority (OPA) from Minister of Energy. Renewable Energy Program. Ministry of Energy (ME), Office of the Minister. MC 2013-1450. June 12, 2013.
27. Menanteau P., Finon D., Lamy M.-L. Prices versus quantities. choosing policies for promoting the development of renewable energy. Energy Policy 2003, 31:799-812.
28. METI, 2013. Settlement of FY 2013 purchase prices for newcomers and FY 2013 surcharge rates under the feed-in tariff scheme for renewable energy. Ministry of Economy, Trade and Industry (METI) Japan, Agency for Natural Resources and Energy. Report complied by the Procurement Price Calculation Committee (in Japanese).
29. MITYC, 2005. Plan de Energías Renovables (Renewable Energy Plan) 2005-2010. Ministerio de Industria, Turismo y Comercio (MITYC) - Ministry of Industry, Tourism and Commerce.
30. Morthorst P.E. The development of a green certificate market. Energy Policy 2000, 28:1085-1094.
31. NSWGG, 2011. Electricity Supply Act 1995. Notice of Cessation of payments under Solar Bonus Scheme. Government Gazette of the state of New South Wales (NSWGG), Week No. 26/2011, No. 67 (June), p. 4801.
32. Ogimoto K., Kaizuka I., Ueda Y., Oozeki T. A good fit. Japan's solar power program and prospects for the new power system. IEEE Power Energy Mag. 2013, 11(2):65-74.
33. O'Mahoney, A., Denny, E., 2011. The merit order effect of wind generation in the irish electricity market. Presented at the 30th IAEE/USAEE North American Conference, Washington DC, USA.
34. OMIE, 2007. Daily and intraday electricity market activity rules, version 01/07/2007. Operador del Mercado Ibérico de Energía (OMIE).
35. OMIE, 2008. Annual report 2008. Operador del Mercado Ibérico de Energía (OMIE).
36. OMIE, 2009. Annual report 2009. Operador del Mercado Ibérico de Energía (OMIE).
37. OMIE, 2010. Annual report 2010. Operador del Mercado Ibérico de Energía (OMIE).
38. OMIE, 2011. Market report 2011. Operador del Mercado Ibérico de Energía (OMIE).
39. OMIE, 2012. Market report 2012. Operador del Mercado Ibérico de Energía (OMIE).
40. Rathmann M. Do support systems for RES-E reduce EU-ETS-driven electricity prices?. Energy Policy 2007, 35(1):342-349.
41. REE, 2008. Annual report El sistema eléctrico español. Red Eléctrica de España (REE).
42. REE, 2009. Annual report El sistema eléctrico español. Red Eléctrica de España (REE)
43. REE, 2010. Annual report El sistema eléctrico español. Red Eléctrica de España (REE).
44. REE, 2011. Annual report El sistema eléctrico español. Red Eléctrica de España (REE).
45. REE, 2012. Annual report El sistema eléctrico español. Red Eléctrica de España (REE).
46. Sáenz de Miera G., del Río González P., Vizcaíno I. Analysing the impact of renewable electricity support schemes on power prices. the case of wind electricity in Spain. Energy Policy 2008, 36:3345-3359.
47. Sensfuss F., Ragwitz M., Genoese M. The merit order effect. a detailed analysis of the price effect of renewable electricity generation on spot market prices in Germany. Energy Policy 2008, 36:3086-3094.
48. VGG, 2012. Electricity Industry Act 2000, amendment to sections 40FF and 40G. Victoria Government Gazette (VGG), N. S461. December 24, 2012.
49. Villaplana, P., 2012. Pagos por capacidad en España: situación actual y perspectivas. Presented at the 16th annual meeting of the Iberoamerican Association of Energy Regulatory Entities, Cartagena de Indias, Colombia. March 20, 2012.
50. Wiesenthal, T., Dowling, P., Morbee, J., Thiel, C., Schade, B., Russ, P., Simoes, S., Peteves, S., Schoots, K., Londo, M., 2012. Technology learning curves for energy policy support. Joint research center (JCR), Scientific and policy reports, European Commission.