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Merit-order of dispatchable and variable renewable energy sources in Turkey's day-ahead electricity market

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  • Gökgöz, Fazıl
  • Yücel, Öykü

Abstract

This study employs linear and non-linear quantile regression models to assess the merit-order effect (MOE) of integrating renewable energy sources (RESs) into the Turkish day-ahead electricity market. The analysis spans nine different quantiles from January 2019 to December 2022. Our results show that both dispatchable and variable renewable energy sources (VREs) are essential for reducing market clearing prices (MCPs) in the Turkish day-ahead market. However, they have different impacts on quantiles of MCPs and price variability. VREs enhances the price variability across all hours in linear and non-linear models, while dispatchable renewable energy reduces price variability except at night.

Suggested Citation

  • Gökgöz, Fazıl & Yücel, Öykü, 2024. "Merit-order of dispatchable and variable renewable energy sources in Turkey's day-ahead electricity market," Utilities Policy, Elsevier, vol. 88(C).
  • Handle: RePEc:eee:juipol:v:88:y:2024:i:c:s0957178724000511
    DOI: 10.1016/j.jup.2024.101758
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