Merit-order of dispatchable and variable renewable energy sources in Turkey's day-ahead electricity market

GÖKGÖZ F., Yücel Ö.

Utilities Policy, cilt.88, 2024 (SCI-Expanded) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 88
  • Basım Tarihi: 2024
  • Doi Numarası: 10.1016/j.jup.2024.101758
  • Dergi Adı: Utilities Policy
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Social Sciences Citation Index (SSCI), Scopus, Academic Search Premier, International Bibliography of Social Sciences, EconLit, Environment Index, INSPEC, PAIS International, Civil Engineering Abstracts
  • Anahtar Kelimeler: Merit-order effect, Quantile regression, Turkish electricity markets
  • TED Üniversitesi Adresli: Hayır

Özet

This study employs linear and non-linear quantile regression models to assess the merit-order effect (MOE) of integrating renewable energy sources (RESs) into the Turkish day-ahead electricity market. The analysis spans nine different quantiles from January 2019 to December 2022. Our results show that both dispatchable and variable renewable energy sources (VREs) are essential for reducing market clearing prices (MCPs) in the Turkish day-ahead market. However, they have different impacts on quantiles of MCPs and price variability. VREs enhances the price variability across all hours in linear and non-linear models, while dispatchable renewable energy reduces price variability except at night.