Volatility in the Turkish wholesale electricity market: an assessment

IF 3.1 4区工程技术 Q3 ENERGY & FUELS

Energy Sources Part B-Economics Planning and Policy Pub Date : 2023-02-14 DOI:10.1080/15567249.2023.2173340

Fuat Oguz, Mustafa ÇaĞri Peker

引用次数: 0

Abstract

ABSTRACT Electricity prices are determined in wholesale markets. A major issue in determining prices is the distortive effect of high volatility of supply. This paper investigates the volatility of electricity supply in the Turkish energy exchange for the period between 2017 and 2020, by using hourly data. We find that volatility increased substantially during this period and uncertainty became a major issue. High volatility brings non-price variables such as institutional and political preferences to the forefront in terms of the decision-making of suppliers. We also discuss the dominance of bilateral contracts, the design of the renewable support mechanism, and the disappearance of independent traders in the wholesale market as some of the major issues that correlate with high volatility.

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来源期刊

Energy Sources Part B-Economics Planning and Policy ENERGY & FUELS-

CiteScore

6.80

自引率

12.80%

发文量

审稿时长

6-12 weeks

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