In this paper we study the impact of errors in wind and solar power forecasts on intraday electricity prices. We develop a novel econometric model which is based on day-ahead wholesale auction curves data and errors in wind and solar power forecasts. The model shifts day-ahead supply curves to calculate intraday prices. We apply our…
Tag: energy economics
The gravity of status quo: A review of IEA’s World Energy Outlook
This paper reviews the methodology and methods behind IEA’s World Energy Outlook (WEO) and offers a critical assessment of key assumptions and projections, focusing in particular on energy and the macro economy, technological change, and investment in new renewable energy. I argue that IEA’s World Energy Outlook suffers from a status quo bias in favor…