Abstract: Electricity markets are increasingly shaped by uncertainty in residual demand due to renewable expansion. This weakens the disciplining role of forward markets and amplifies the potential for market power in spot pricing. Understanding this mechanism is essential for informed market design in the context of growing intermittency and structural transformation of energy systems.
This work presents a multi-stage stochastic optimization model to analyze price dynamics and reliability of supply in a 100% renewable power system. The stochastic framework captures uncertainty arising from the intermittency of weather-dependent renewable energy sources and compares three market design options for a future fully renewable German electricity market: an energy-only market without...
This paper identifies a risk-hedging mechanism we coin the "dirty self-hedge" and analyzes how it affects financing costs of green industrial investments. The dirty self-hedge occurs in basic materials production when exclusively conventional, emission-intensive producers can pass on input price shocks to final product prices. They thus have a natural hedge for their profit margins against input...
Der technologische Fortschritt im Bereich generativer Künstlicher Intelligenz (KI) wird den Arbeitsmarkt in Zukunft stark verändern. Das Transformationspotenzial durch KI unterscheidet sich dabei stark zwischen Berufen. Da der deutsche Arbeitsmarkt deutlich nach Geschlechtern segregiert ist, stellt sich die Frage, ob die Transformation durch generative KI Frauen und Männer unterschiedlich betreffen ...
