Journal article

Publication year: 2017

Pages: 450-465

Journal: Energy Economics

Volume number: 66

ISSN: 0140-9883

eISSN: 1873-6181

Open access status: Green

DOI Link: https://doi.org/10.1016/j.eneco.2017.07.010

Publisher: Elsevier

Abstract: 
The German response to the Fukushima nuclear power plant incident was possibly the most significant change of policy towards nuclear power outside Japan, leading to a sudden and very substantial shift in the underlying power generation structure in Germany, an enthusiastic leading proponent of renewable power. This provides a very useful experiment on the impact of a supply shock in the context of increasing relative generation by renewable compared to conventional fuel inputs into power production. Our quasi-experimental exploration of a modified demand-supply framework finds that despite the swift, unpredicted change in nuclear power, the main impact was a significant average increase in prices, surprisingly particularly at low residual load levels. (C) 2017 Elsevier B.V. All rights reserved.

Harvard Citation style: Grossi, L., Heim, S. and Waterson, M. (2017) The impact of the German response to the Fukushima earthquake, Energy Economics, 66, pp. 450-465. https://doi.org/10.1016/j.eneco.2017.07.010

APA Citation style: Grossi, L., Heim, S., & Waterson, M. (2017). The impact of the German response to the Fukushima earthquake. Energy Economics. 66, 450-465. https://doi.org/10.1016/j.eneco.2017.07.010