Year 2019, Volume 19 , Issue 1, Pages 133 - 156 2019-05-01

Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices
Türkiye Elektrik Piyasasında Merit Sınıflandırma Etkisinin Test Edilmesi: Rüzgar Penetrasyonunun Gün Öncesi Elektrik Fiyatlarına Etkisi

İstemi BERK [1] , Erdost TORUN [2]


Due to recent support mechanisms, the share of renewable energy sources, particularly wind, in Turkey’s electricity generation has increased significantly. Increasing renewable penetration is supposed to decrease the electricity prices, which is known as the merit-order effect. Main purpose of this article is to test the existence of merit-order effect in Turkish electricity market. To this end, a nonparametric Granger causality test based on wavelet transformation is applied on a daily data set covering Turkish day-ahead power market clearing prices and electricity generation from wind over the period between 2011 and 2018. The overall results confirm the existence of the merit-order effect of wind in Turkey's electricity market. It is also observed that the strength of the negative causality alters drastically over different sub-periods.

Son destekleme mekanizmaları sayesinde, yenilenebilir enerji kaynaklarının, özellikle rüzgar enerjisinin, Türkiye elektrik üretimindeki payı önemli ölçüde artmıştır. Artan yenilenebilir penetrasyonunun elektrik fiyatlarını düşürmesi beklenmektedir ve bu merit sınıflandırma etkisi olarak bilinmektedir. Bu makalenin temel amacı Türk elektrik piyasasında merit sınıflandırma etkisinin test edilmesidir. Bu bağlamda, Türkiye gün öncesi elektrik piyasası takas fiyatı ve rüzgar temelli elektrik üretimi 2011 ile 2018 arası dönemi verilerini içeren günlük veri seti üzerine dalgacık dönüşümlü parametrik olmayan Granger nedensellik testi uygulanmıştır. Genel sonuçlar Türkiye elektrik piyasasında rüzgarın merit sınıflandırma etkisini doğrulamaktadır. Ayrıca, eksi yönlü nedenselliğin gücünün farklı alt dönemlerde şiddetli bir şekilde değiştiği de gözlemlenmiştir.

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Primary Language en
Subjects Economics
Journal Section Articles
Authors

Orcid: 0000-0003-3507-2293
Author: İstemi BERK

Orcid: 0000-0002-0946-2813
Author: Erdost TORUN

Dates

Application Date : October 14, 2018
Acceptance Date : January 20, 2019
Publication Date : May 1, 2019

Bibtex @research article { auiibfd559394, journal = {Akdeniz İİBF Dergisi}, issn = {1302-9975}, eissn = {2667-7229}, address = {AKDENİZ ÜNİVERSİTESİ İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ DEKANI DUMLUPINAR CAD. ANTALYA}, publisher = {Akdeniz University}, year = {2019}, volume = {19}, pages = {133 - 156}, doi = {10.25294/auiibfd.559394}, title = {Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices}, key = {cite}, author = {Berk, İstemi and Torun, Erdost} }
APA Berk, İ , Torun, E . (2019). Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices . Akdeniz İİBF Dergisi , 19 (1) , 133-156 . DOI: 10.25294/auiibfd.559394
MLA Berk, İ , Torun, E . "Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices" . Akdeniz İİBF Dergisi 19 (2019 ): 133-156 <https://dergipark.org.tr/en/pub/auiibfd/issue/44940/559394>
Chicago Berk, İ , Torun, E . "Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices". Akdeniz İİBF Dergisi 19 (2019 ): 133-156
RIS TY - JOUR T1 - Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices AU - İstemi Berk , Erdost Torun Y1 - 2019 PY - 2019 N1 - doi: 10.25294/auiibfd.559394 DO - 10.25294/auiibfd.559394 T2 - Akdeniz İİBF Dergisi JF - Journal JO - JOR SP - 133 EP - 156 VL - 19 IS - 1 SN - 1302-9975-2667-7229 M3 - doi: 10.25294/auiibfd.559394 UR - https://doi.org/10.25294/auiibfd.559394 Y2 - 2019 ER -
EndNote %0 Akdeniz İİBF Dergisi Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices %A İstemi Berk , Erdost Torun %T Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices %D 2019 %J Akdeniz İİBF Dergisi %P 1302-9975-2667-7229 %V 19 %N 1 %R doi: 10.25294/auiibfd.559394 %U 10.25294/auiibfd.559394
ISNAD Berk, İstemi , Torun, Erdost . "Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices". Akdeniz İİBF Dergisi 19 / 1 (May 2019): 133-156 . https://doi.org/10.25294/auiibfd.559394
AMA Berk İ , Torun E . Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices. Akdeniz İİBF Dergisi. 2019; 19(1): 133-156.
Vancouver Berk İ , Torun E . Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices. Akdeniz İİBF Dergisi. 2019; 19(1): 133-156.
IEEE İ. Berk and E. Torun , "Testing Merit-Order Effect in Turkey’s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices", Akdeniz İİBF Dergisi, vol. 19, no. 1, pp. 133-156, May. 2019, doi:10.25294/auiibfd.559394