The impact of wind generation on the electricity spot-market price level and variance: The Texas experience

By Chi-Keung Woo, I. Horowitz, Jack Moore, A. Pacheco. 2011

425 citations recorded by the source corpus.

Subfields: Electrical and Electronic Engineering

View Paper: https://www.semanticscholar.org/paper/1de3bee778696a055c7460c61f41538f7cdd2a89

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In Electrical and Electronic Engineering

Citations in the corpus

Merit-order effects of renewable energy and price divergence in California’s day-ahead and real-time electricity markets (2016, background): “This price-reduction effect, also known as the merit-order effect, has been demonstrated through model simulations (e.g., Morales and Conejo, 2011; Traber and Kemfert, 2011), as well as through regression analysis of market data for Spain (Gelabert et al., 2011; Gil et al., 2012), Germany (Sensfuß e”
The Merit-Order Effect in the Italian Power Market: The Impact of Solar and Wind Generation on National Wholesale Electricity Prices (2015, methodology): “To clarify this point, we follow Woo et al. (2011) and Ketterer (2012) and we run the Phillips-Perron test, which is robust with respect to autocorrelation and heteroskedasticity in the disturbance process of the test equation.”
A game theoretic framework for a next-generation retail electricity market with high penetration of distributed residential electricity suppliers (2014, background): “Thirdly, in the last decade, a number of studies have investigated the impacts of renewable generation on wholesale market price profiles [14–18].”
Efficient modeling and forecasting of electricity spot prices (2014, positive): “For instance, Woo et al. (2011) use a regression analysis for the Texas electricity price market to examine the eﬀect of wind power generation.”
Does renewable energy generation decrease the volatility of electricity prices? An analysis of Denmark and Germany (2017, background): “Outside Germany and Denmark, renewables have been found to decrease prices in Spain [16] and Texas [17].”
A review of electricity product differentiation (2014, background): “Hence, wind-generation expansion reduces wholesale spot electricity prices and diminishes the incentive for naturalgas-fired generation investments [90–95], even when such investments are urgently needed to integrate new wind-generation capacity into the grid [96–98].”
The effect of wind and solar power generation on wholesale electricity prices in Australia (2019, background): “, 2013) and in the US (eg.: Fell and Kaffine, 2018; Woo et al., 2011; Woo et al., 2016), there is a limited evidence showing similar merit order effect in Australia (Cutler et al.”
The impact of wind power generation on the electricity price in Germany (2014, background): “This confirms findings by Jónsson et al. (2010) as well as Woo et al. (2011) and underlines the meritorder effect.”
The evaluation of renewable energy policies across EU countries and US states: An econometric approach (2016, background): “…answer to this question has become increasingly more important as governments cope with energy challenges such as demand growth, national security riskwith fossil fuel dependence, climate change, and pollution (Jacobs et al., 2013; Marques and Fuinhas, 2012; Stokes, 2013; Woo et al., 2011).”
The Market Value of Variable Renewables The Effect of Solar and Wind Power Variability on their Relative Price (2013, positive): “…electricity price (Unger & Ahlgren 2005, Rathmann 2007, Sensfuß 2007, Olsina et al. 2007, Saenz de Miera et al. 2008, Sensfuß et al. 2008, Munksgaard & Morthorst 2008, MacCormack et al. 2010, Jónsson et al. 2010, Woo et al. 2011, O’Mahoney & Denny 2011, Gil et al. 2012, Hirth & Ueckerdt 2012).”
Transmission grid extensions for the integration of variable renewable energies in Europe: Who benefits where? (2012, background): “Based on the example91 of Texas, Woo et al. (2011) show that higher wind energy supply leads not92 only to lower average electricity prices, but also to higher price volatility.93 This volatility is sensitive to the level of wind speed, the behavior of differ-94 ent market participants (Green and…”
The merit order effect of wind and photovoltaic electricity generation in Germany 2008–2016: Estimation and distributional implications (2014, background): “Studies also exist for the Australian (Cludius, Forrest and MacGill 2014; Forrest and MacGill 2013) and Texan (Woo et al. 2011) markets, which both model the electricity price using an AR(1) process. Additionally, Forrest and MacGill (2013) employ a logarithmic transformation to account for specific”
Modeling of financial incentives for investments in energy storage systems that promote the large-scale integration of wind energy (2013, background): “In addition, as addressed in [7], large-scale integration of wind energy strongly affects power quality, while in terms of market operation, large share of wind power can result in increased volatility of spot prices and extreme negative price events, as identified by several researchers [8–11].”