Autor:
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Roldán Fernández, Juan Manuel
Burgos Payán, Manuel
Riquelme Santos, Jesús Manuel
Trigo García, Ángel Luis
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Departamento:
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Universidad de Sevilla. Departamento de Ingeniería Eléctrica |
Fecha:
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2016 |
Publicado en:
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Energy procedia, 106, 175-184. |
Tipo de documento:
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Artículo |
Resumen:
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The integration of certain amount of renewable generation in the wholesale market right-shifted the merit-order
generation curve, which produces a noticeable reduction of the clearing price while slightly increases the traded
energy (almost inelastic demand curve). The downward pressure on the clearing price is mainly due to the fact that
the introduction of renewable generation bids with very low (even null) marginal cost, displaces to the right all kinds
of conventional technologies (with higher marginal cost), including the technology which would otherwise have set
the clearing market price. This right-shifted displacement of the merit-order generation curve leads to a lower
wholesale clearing price, a small increment of the traded energy and a reduction of the total cost of the traded energy
in the wholesale market. This is the key mechanism and its main effects on the market of the very well-known meritorder
effect of the renewables. The promotion of energy-efficiency pla...
[Ver más]
The integration of certain amount of renewable generation in the wholesale market right-shifted the merit-order
generation curve, which produces a noticeable reduction of the clearing price while slightly increases the traded
energy (almost inelastic demand curve). The downward pressure on the clearing price is mainly due to the fact that
the introduction of renewable generation bids with very low (even null) marginal cost, displaces to the right all kinds
of conventional technologies (with higher marginal cost), including the technology which would otherwise have set
the clearing market price. This right-shifted displacement of the merit-order generation curve leads to a lower
wholesale clearing price, a small increment of the traded energy and a reduction of the total cost of the traded energy
in the wholesale market. This is the key mechanism and its main effects on the market of the very well-known meritorder
effect of the renewables. The promotion of energy-efficiency plans (industry and domestic) by policy-makers is
expected to yield a reduction of the demand. As a result of the reduction of demand bids, the merit-order demand
curve would experience a left-sifted displacement, which would produce a reduction of both the clearing price and
the amount of traded energy. Consequently, the total cost of the traded energy also would diminish. As can be seen,
the parallelism of the main effects on the market between the integration of renewable and energy efficiency
evidences the existence of what can be called the merit-order effect of energy efficiency. To analyze the
characteristics of this merit-order effect of the energy efficiency, a simplified model, based on the linearization of the
market around the clearing point, is developed. This simplified model is also used to compare the merit-order effect
of energy efficiency and renewables. A set of scenarios with energy efficiency and renewables have been generated
in order to quantify the main effects on the Spanish/Iberian market for the year 2014.
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Cita:
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Roldán Fernández, J.M., Burgos Payán, M., Riquelme Santos, J.M. y Trigo García, Á.L. (2016). The Merit-Order Effect of Energy Efficiency. Energy procedia, 106, 175-184. |
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