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Europe’s Energy Transition by Manuel Welsch

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Chapter 16

Impact on Electricity Markets

Merit Order Effect of Renewable Energies

Paul Deane1, Seán Collins1, Brian Ó. Gallachóir1, Cherrelle Eid2, Rupert Hartel3, Dogan Keles3 and Wolf Fichtner3,    1University College Cork (UCC), Cork, Ireland,    2Institut Français des Relations Internationales (IFRI), Paris, France,    3Karlsruhe Institute of Technology (KIT), Karlsruhe, Germany

Abstract

The increase in renewable energy sources has contributed to lowering electricity wholesale prices in many markets (although not necessarily retail prices) by causing a shift in the merit order curve and substituting part of the conventional generation, which has higher marginal production costs. This merit order effect, along with priority dispatch, can ...

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