摘要翻译：
能源经济学和电力市场界正在进行的一场辩论提出了一个问题，即由于补贴可再生能源(RES)的馈电份额不断增加，纯能源电力市场是否正在日益失败。对此的简短回答是：不，他们没有失败。然而，以能源为基础的电力市场面临着几个市场扭曲，即前一天市场交易的电量与总用电量之间的差距，以及（错误的）监管假设，即可变RES发电，即风能和光伏(PV)，实际上是零边际运营成本。在本文中，我们发现这两种效应都过度放大了众所周知的RES功率馈入的优序效应，超出了可由潜在物理现实解释的水平，即由于考虑损耗和启停约束，火力发电厂愿意接受负电价以保持在线。我们分析了风能和光伏电力馈入对一个地区的前一天市场的影响，该地区今天已经经历了大量的馈入电价(FIT)补贴的RES电力馈入，即EPEX德国-奥地利市场区（大约$\\\\，$20%的FIT份额）。我们的分析表明，如果采取必要的调整措施，即增加前一日市场在总负荷需求中的份额，并按优劣顺序使用RES单元的真实边际成本，尽管RES功率馈入较高，但基于能源的电力市场仍可保持功能。
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英文标题：
《Revisiting the Merit-Order Effect of Renewable Energy Sources》
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作者：
Marcus Hildmann, Andreas Ulbig and G\\\"oran Andersson
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最新提交年份：
2014
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：General Finance        一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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英文摘要：
  An on-going debate in the energy economics and power market community has raised the question if energy-only power markets are increasingly failing due to growing feed-in shares from subsidized renewable energy sources (RES). The short answer to this is: No, they are not failing. Energy-based power markets are, however, facing several market distortions, namely from the gap between the electricity volume traded at day-ahead markets versus the overall electricity consumption as well as the (wrong) regulatory assumption that variable RES generation, i.e., wind and photovoltaic (PV), truly have zero marginal operation costs. In this paper we show that both effects over-amplify the well-known merit-order effect of RES power feed-in beyond a level that is explainable by underlying physical realities, i.e., thermal power plants being willing to accept negative electricity prices to be able to stay online due to considerations of wear & tear and start-stop constraints. We analyze the impacts of wind and PV power feed-in on the day-ahead market for a region that is already today experiencing significant feed-in tariff (FIT)-subsidized RES power feed-in, the EPEX German-Austrian market zone ($\\approx\\,$20% FIT share). Our analysis shows that, if the necessary regulatory adaptations are taken, i.e., increasing the day-ahead market\'s share of overall load demand and using the true marginal costs of RES units in the merit-order, energy-based power markets can remain functional despite high RES power feed-in.
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