Changes in electricity spot price formation in Germany caused by a high share of renewable energies

摘要

The continuous expansion of electricity generation from intermittent renewable energy sources has already changed the structure of electricity spot prices in Germany considerably. The common method to describe the spot price impacts of renewable energies is to shift the residual load along the merit-order curve of thermal power plants. But, this procedure is undefined if electricity is entirely generated from renewables and conventional power plants are turned off. This paper describes the general feasibility and future challenges to assess the spot price effects of price-elastic demand, substitutive demand and storage during times with surplus of generation from renewable energies.