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The Effect of Renewable Energy Generation on the Electric Power Spot Price of the Japan Electric Power Exchange

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  • Jun Maekawa

    (Ritsumeikan Global Innovation Research Organization (R-GIRO), Ritsumeikan University, Kusatsu, Shiga 525-8577, Japan)

  • Bui Hien Hai

    (Graduate school of Economics, Ritsumeikan University, Kusatsu, Shiga 525-8577, Japan)

  • Sarana Shinkuma

    (Faculty of Economics, Ritsumeikan University, Kusatsu, Shiga 525-8577, Japan)

  • Koji Shimada

    (Faculty of Economics, Ritsumeikan University, Kusatsu, Shiga 525-8577, Japan)

Abstract

This study aims to explore the relationship between renewable energies and the electric power spot price of the Japan Electric Power Exchange (JEPX). By using panel data analysis and proxy modeling, this work attempts to estimate how renewable energies (displayed through the proxies) and other factors influence the electric power spot price in Japan. Based on an analysis of the estimations, some policy implications have been proposed, such as to incorporate weather information into the price forecast, or to provide a guide to more effectively transact on the JEPX.

Suggested Citation

  • Jun Maekawa & Bui Hien Hai & Sarana Shinkuma & Koji Shimada, 2018. "The Effect of Renewable Energy Generation on the Electric Power Spot Price of the Japan Electric Power Exchange," Energies, MDPI, vol. 11(9), pages 1-16, August.
    • Handle: RePEc:gam:jeners:v:11:y:2018:i:9:p:2215-:d:165548
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    References listed on IDEAS

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    Cited by:

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    2. Azam Ghezelbash & Mitra Seyedzadeh & Vahid Khaligh & Jay Liu, 2023. "Impacts of Green Energy Expansion and Gas Import Reduction on South Korea’s Economic Growth: A System Dynamics Approach," Sustainability, MDPI, vol. 15(12), pages 1-18, June.
    3. Kolb, Sebastian & Dillig, Marius & Plankenbühler, Thomas & Karl, Jürgen, 2020. "The impact of renewables on electricity prices in Germany - An update for the years 2014–2018," Renewable and Sustainable Energy Reviews, Elsevier, vol. 134(C).
    4. Jun Maekawa & Koji Shimada, 2019. "A Speculative Trading Model for the Electricity Market: Based on Japan Electric Power Exchange," Energies, MDPI, vol. 12(15), pages 1-15, July.
    5. Ahl, A. & Yarime, M. & Goto, M. & Chopra, Shauhrat S. & Kumar, Nallapaneni Manoj. & Tanaka, K. & Sagawa, D., 2020. "Exploring blockchain for the energy transition: Opportunities and challenges based on a case study in Japan," Renewable and Sustainable Energy Reviews, Elsevier, vol. 117(C).
    6. Tomasz Rokicki & Piotr Bórawski & Barbara Gradziuk & Piotr Gradziuk & Aldona Mrówczyńska-Kamińska & Joanna Kozak & Danuta Jolanta Guzal-Dec & Kamil Wojtczuk, 2021. "Differentiation and Changes of Household Electricity Prices in EU Countries," Energies, MDPI, vol. 14(21), pages 1-21, October.
    7. Mika Goto & Kohei Fujita & Toshiyuki Sueyoshi, 2020. "Marginal Effect of R&D Investment and Impact of Market Reforms—An Empirical Analysis of Japanese Electric Power Companies," Energies, MDPI, vol. 13(13), pages 1-15, July.
    8. Barsha Nibedita & Mohd Irfan, 2022. "Non-linear cointegration between wholesale electricity prices and electricity generation: an analysis of asymmetric effects," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(1), pages 285-303, February.
    9. Krystyna Gomółka & Piotr Kasprzak, 2022. "Household Ability of Expenditures on Electricity and Energy Resources in the Countries That Joined the EU after 2004," Energies, MDPI, vol. 15(9), pages 1-21, April.
    10. Andal, Emmanuel Genesis T., 2022. "Industrialisation, state-related institutions, and the speed of energy substitution: The case in Europe," Energy, Elsevier, vol. 239(PC).
    11. Sakaguchi, Makishi & Fujii, Hidemichi, 2021. "The impact of variable renewable energy penetration on wholesale electricity prices in Japan," MPRA Paper 110554, University Library of Munich, Germany.

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