Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Assessment of the merit order effect caused by wind energy generation in the Lithuanian energy market ; Vėjo elektros energijos gamybos ribinių sąnaudų dinamikos poveikio įvertinimas Lietuvoje
This thesis seeks to evaluate the merit order effect caused by wind energy generation in the Lithuanian energy market. The merit order effect is a term used to describe the effect renewable energy generation has on the wholesale electricity price. According to the theory, substantial generation of renewable energy lowers the wholesale electricity price in the electricity exchange. To evaluate the effect, a literature review and analysis was made to determine the optimal regression model to use. The regression model used is constructed to analyse the effect wind energy generation has on the day-ahead electricity price. The chosen model consists of three explanatory variables – gas price, wind power generation and electricity demand - and three groups of seasonal control variables. The sample taken was of daily average hourly data for three years (2018-2020). The dataset was time series and consisted of 1,096 observations. To analyse the data, a generalized least squares (GLS) model with autoregressive errors (AR(1)) and Prais-Winsten estimation was used. The findings posit a positive presence of the merit order effect in Lithuanian energy market. Wind energy generation has reduced the daily average hourly price of electricity up to 11.45 €/MWh, 11 €/MWh and 16.39 €/MWh in 2018, 2019 and 2020 respectively. The estimated total savings caused by wind power generation during the three years measured stand at €38,531,561, €49,404,664 and €74,071,225 respectively; however, these savings did not outweigh the costs of the wind energy subsidy programs for those years.
Assessment of the merit order effect caused by wind energy generation in the Lithuanian energy market ; Vėjo elektros energijos gamybos ribinių sąnaudų dinamikos poveikio įvertinimas Lietuvoje
This thesis seeks to evaluate the merit order effect caused by wind energy generation in the Lithuanian energy market. The merit order effect is a term used to describe the effect renewable energy generation has on the wholesale electricity price. According to the theory, substantial generation of renewable energy lowers the wholesale electricity price in the electricity exchange. To evaluate the effect, a literature review and analysis was made to determine the optimal regression model to use. The regression model used is constructed to analyse the effect wind energy generation has on the day-ahead electricity price. The chosen model consists of three explanatory variables – gas price, wind power generation and electricity demand - and three groups of seasonal control variables. The sample taken was of daily average hourly data for three years (2018-2020). The dataset was time series and consisted of 1,096 observations. To analyse the data, a generalized least squares (GLS) model with autoregressive errors (AR(1)) and Prais-Winsten estimation was used. The findings posit a positive presence of the merit order effect in Lithuanian energy market. Wind energy generation has reduced the daily average hourly price of electricity up to 11.45 €/MWh, 11 €/MWh and 16.39 €/MWh in 2018, 2019 and 2020 respectively. The estimated total savings caused by wind power generation during the three years measured stand at €38,531,561, €49,404,664 and €74,071,225 respectively; however, these savings did not outweigh the costs of the wind energy subsidy programs for those years.
Assessment of the merit order effect caused by wind energy generation in the Lithuanian energy market ; Vėjo elektros energijos gamybos ribinių sąnaudų dinamikos poveikio įvertinimas Lietuvoje
Daškevičiūtė, Urtė (Autor:in) / Poškutė, Virginija
02.06.2021
Hochschulschrift
Elektronische Ressource
Lithuanian , Englisch
DDC:
690
| BASE | 2006
| BASE | 2006
| BASE | 2006