Quantifying the Impact of Large-Scale Renewable Energy Generation on Wholesale Electricity Price and Incumbent Generator Behaviour
The aim of this PhD is to empirically analyse the effects of different electricity generation types and other key drivers on the price of electricity in the spot market. The hypothesis is that a higher penetration of renewable energy generation thancurrently in place would be cost effective in the Australian market. This is due to the price reducing effects of low marginal cost renewable generation and the increases in fossil fuel prices expected in coming years. By focusing on economics and energy security rather than the environment, suchresults could inspire political action to support renewable energy regardless of the environmental and political inclinations of governmental leaders. The analysis will be focused on a national level in Australia, where such a result would be particularly timely and relevant. Comparisons will also be drawn with the German electricity market, which is currently undergoing a large renewable energy uptake under the Energiewende.