{"title":"出价为零?太阳能发电厂在电力日前市场上的竞价分析","authors":"Silke Johanndeiter , Valentin Bertsch","doi":"10.1016/j.apenergy.2024.123672","DOIUrl":null,"url":null,"abstract":"<div><p>Typically, solar power is offered for price bids at the level of their near zero marginal costs to electricity markets. While aggregate effects of this behaviour on prices (merit-order effect) and profits (cannibalisation effect) have been studied extensively, potential deviations from this strategy still lack an understanding. We observe a group of firms to offer solar power for prices larger than zero to the Iberian electricity day-ahead market. Based on a literature review and analysing incentives set for solar power by the Spanish electricity market design, we suggest these price bids to result from revenue opportunities in sequential markets. Results of our regression analyses confirm that the observed group of firms is more likely to conduct arbitrage. This motive also allows for explaining the level of a case-study firm’s price bids.</p></div>","PeriodicalId":246,"journal":{"name":"Applied Energy","volume":null,"pages":null},"PeriodicalIF":10.1000,"publicationDate":"2024-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0306261924010559/pdfft?md5=a2c1cf6d843322e725b45d53bd890311&pid=1-s2.0-S0306261924010559-main.pdf","citationCount":"0","resultStr":"{\"title\":\"Bidding zero? An analysis of solar power plants’ price bids in the electricity day-ahead market\",\"authors\":\"Silke Johanndeiter , Valentin Bertsch\",\"doi\":\"10.1016/j.apenergy.2024.123672\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>Typically, solar power is offered for price bids at the level of their near zero marginal costs to electricity markets. While aggregate effects of this behaviour on prices (merit-order effect) and profits (cannibalisation effect) have been studied extensively, potential deviations from this strategy still lack an understanding. We observe a group of firms to offer solar power for prices larger than zero to the Iberian electricity day-ahead market. Based on a literature review and analysing incentives set for solar power by the Spanish electricity market design, we suggest these price bids to result from revenue opportunities in sequential markets. Results of our regression analyses confirm that the observed group of firms is more likely to conduct arbitrage. This motive also allows for explaining the level of a case-study firm’s price bids.</p></div>\",\"PeriodicalId\":246,\"journal\":{\"name\":\"Applied Energy\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":10.1000,\"publicationDate\":\"2024-06-22\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://www.sciencedirect.com/science/article/pii/S0306261924010559/pdfft?md5=a2c1cf6d843322e725b45d53bd890311&pid=1-s2.0-S0306261924010559-main.pdf\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Applied Energy\",\"FirstCategoryId\":\"5\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0306261924010559\",\"RegionNum\":1,\"RegionCategory\":\"工程技术\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ENERGY & FUELS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Applied Energy","FirstCategoryId":"5","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0306261924010559","RegionNum":1,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENERGY & FUELS","Score":null,"Total":0}
Bidding zero? An analysis of solar power plants’ price bids in the electricity day-ahead market
Typically, solar power is offered for price bids at the level of their near zero marginal costs to electricity markets. While aggregate effects of this behaviour on prices (merit-order effect) and profits (cannibalisation effect) have been studied extensively, potential deviations from this strategy still lack an understanding. We observe a group of firms to offer solar power for prices larger than zero to the Iberian electricity day-ahead market. Based on a literature review and analysing incentives set for solar power by the Spanish electricity market design, we suggest these price bids to result from revenue opportunities in sequential markets. Results of our regression analyses confirm that the observed group of firms is more likely to conduct arbitrage. This motive also allows for explaining the level of a case-study firm’s price bids.
期刊介绍:
Applied Energy serves as a platform for sharing innovations, research, development, and demonstrations in energy conversion, conservation, and sustainable energy systems. The journal covers topics such as optimal energy resource use, environmental pollutant mitigation, and energy process analysis. It welcomes original papers, review articles, technical notes, and letters to the editor. Authors are encouraged to submit manuscripts that bridge the gap between research, development, and implementation. The journal addresses a wide spectrum of topics, including fossil and renewable energy technologies, energy economics, and environmental impacts. Applied Energy also explores modeling and forecasting, conservation strategies, and the social and economic implications of energy policies, including climate change mitigation. It is complemented by the open-access journal Advances in Applied Energy.