Electricity prices during the energy crisis in Germany: the role of market power

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• dc.contributor.author Saile, Anna
• dc.contributor.author Fladung, Till
• dc.date.accessioned 2024-11-19T12:18:15Z
• dc.date.available 2024-11-19T12:18:15Z
• dc.date.issued 2024-06-02
• dc.description Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Economics of Energy, Climate Change, and Sustainability. Curs 2023-2024ca
• dc.description Tutors: Mar Reguant; Jacint Enrichca
• dc.description.abstract During the energy crisis in 2022, electricity prices in Germany soared to unprecedented levels, placing a significant burden on consumers. To explore the drivers of the high electricity prices, we develop an electricity dispatch model that simulates hourly equilibrium prices under the assumption of perfect competition. We then extend this model to account for firms exercising market power. By comparing the outcomes of the perfect competition and Cournot competition models with actual market data, we demonstrate that market power likely contributed to higher prices during the crisis, elevating them beyond what rising input costs alone would justify.ca
• dc.description.abstract Durante la crisis energética de 2022, los precios de la electricidad en Alemania alcanzaron niveles sin precedentes, afectando gravemente a los consumidores. Para analizar las causas de estos altos precios, desarrollamos un modelo de despacho eléctrico que simula precios de equilibrio horarios bajo el supuesto de competencia perfecta. Luego, ampliamos este modelo para considerar ejercicio de poder de mercado de las empresas. Al comparar los resultados de ambos modelos con datos reales del mercado, demostramos que el poder de mercado probablemente contribuyó al aumento de precios durante la crisis, superando lo que justificaría únicamente el incremento de los costes de insumos.es
• dc.format.mimetype application/pdf*
• dc.identifier.uri http://hdl.handle.net/10230/68740
• dc.language.iso engca
• dc.rights This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Licenseca
• dc.rights.accessRights info:eu-repo/semantics/openAccessca
• dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0ca
• dc.subject.keyword Market poweren
• dc.subject.keyword Electricity marketsen
• dc.subject.keyword Energy crisisen
• dc.subject.keyword Poder de mercadoes
• dc.subject.keyword Mercados eléctricoses
• dc.subject.keyword Crisis energéticaes
• dc.subject.other Treball de fi de màster – Curs 2023-2024ca
• dc.title Electricity prices during the energy crisis in Germany: the role of market powerca
• dc.type info:eu-repo/semantics/masterThesisca