The price of wind power generation in Iberia and the merit-order effect

Nuno Carvalho Figueiredo & Patrícia Pereira Da Silva
Renewable energy generation depresses electricity spot prices, which is often used as argument to justify incentives provided to renewables. In the so-called “merit-order effect”, renewable power reduces the load available for conventional power and displaces higher marginal cost generation out of the market. In this study, we estimate the value of the “merit-order effect” due to wind power generation in the Iberian market, in the period between 1st January 2008 and 31st October 2016. This...
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