DBPapers

RENEWABLE ENERGY PORTFOLIO AND ROMANIAN POWER MARKET

G. VUC, C. BARBULESCU, A. SIMO, M. MIHALCEA
Wednesday 19 December 2018 by Libadmin2018

ABSTRACT

In this paper, authors address a topic of great interest both for the specialists from the economic environment and for the general public in the European Union, based on specific data for the Romanian power market. The issue of reducing environmental pollution or greenhouse gas emissions is a hot topic in the today world, affecting virtually every pointof the world. These targets can also be achieved by increasing the share of electricityproduction from renewable resources. However, the population of Romania, and probably also the population of other states, is also affected by the impact of the financial incentives granted to producers from renewable resources, which are first felt by the increase of theenergy costs. The analysis carried out by the authors of this paper aimed at highlighting the influence of renewable energy production on the electricity market in Romania, and especially on the spot market price. The obtained results showed that for the year 2017 between the spot price and the production of electricity from renewable resources there is arelatively weak but negative correlation, respectively, from this point of view the influenceis favorable. As a collateral result of the analysis, there was a slight correlation between price of electricity from the European energy exchange EPEX SPOT and the spot marketin Romania, in addition for the latter there was an abnormal but still relatively constant trend towards higher prices bigger than those on EPEX SPOT. The indicators followed in the analysis, the results and the conclusions, as well as the possible future directions for further investigations, are presented below in the paper. The analysis was carried out on publicly available data from the web site of TSO, Transelectrica, and from the OPCOMmarket operator web site for the whole year 2017. The year 2017 was chosen because it was characterized by unusual variations in the price of electricity on the spot market in Romania, which led to a significant increase in the average consumer price of electricity.

Keywords: powermarket, renewable energy, renewables integration, power market analysis


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