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The case of negative day-ahead electricity prices
2013
Energy Economics
In recent years, Germany has significantly increased its share of electricity produced from renewable sources, which is mainly due to the Renewable Energy Act (EEG). The EEG substantially impacts the dynamics of intra-day electricity prices by increasing the likelihood of negative prices. In this paper, we present a non-Gaussian process to model German intra-day electricity prices and propose an estimation procedure for this model. Most importantly, our model is able to generate extreme
doi:10.1016/j.eneco.2011.12.006
fatcat:bh7fqcevbfai5lhw74vlvilf3m