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Internal Economic Department Seminars – A. Shanker and C. Kiran

Time Friday 6 September, 2019 at 14:00 - 15:00
Place Fika room, Economics department, USBE

Title: The Economics of Renewable-only Electricity Markets with storage

Abstract: We investigate key aspects of a benchmark market with fully renewable electricity generation.  We develop a model of endogenous intermittent generation  and electricity storage capacity, along with a spot market determines (endogenously) that the hourly price of electricity. Our focus is on the unpredictable part of intermittency and on the variability in demand. In this setting, we are interested in understanding two key aspects of the resulting electricity market: the role played by electricity storage in an intermittent-only market; and the effect of storage on price dynamics and welfare. These questions are investigated in a dynamic stochastic framework, which is a combination of a speculative storage model and a stochastic growth framework.

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Event type: Seminar

External speaker: Akshay Shanker (Australian National University) 

Staff photo Chandra Kiran
Chandra Kiran
Read about Chandra Kiran
Gauthier Lanot
Read about Gauthier Lanot