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Evolution of Global Electricity Markets by Fereidoon P. Sioshansi

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Chapter 4

Turnaround in Rough Sea—Electricity Market in Germany

Wolfgang Pfaffenbergera and Esther Chrischillesb,    aProfessor of Economics, Jacobs University, bResearch assistant, Cologne Institute for Economic Research

1 Introduction

With the passage of the energy law of 2005, the electricity market in Germany underwent an additional reform after the reform of 1998 initiated by the European Union (EU) as described by Brunekreeft and Bauknecht (2006). Network access and pricing were subjected to the new regulation; the wholesale market developed strongly and the prices on the European Energy Exchange (EEX) took on a leading role. Renewable energy was promoted by a special feed in law that guaranteed high prices for qualifying renewable energies ...

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