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The impact of the German response to the Fukushima earthquake

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Grossi, Luigi, Heim, Sven and Waterson, Michael (2017) The impact of the German response to the Fukushima earthquake. Energy Economics, 66 . pp. 450-465. doi:10.1016/j.eneco.2017.07.010 ISSN 0140-9883.

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Official URL: http://dx.doi.org/10.1016/j.eneco.2017.07.010

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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.

Item Type: Journal Article
Subjects: H Social Sciences > HC Economic History and Conditions
T Technology > TK Electrical engineering. Electronics Nuclear engineering
Divisions: Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH): Nuclear power plants -- Decommissioning -- Germany, Nuclear industry -- Government policy -- Germany, Power resources -- Economic aspects -- Germany, Renewable energy sources -- Government policy -- Germany, Fukushima Nuclear Disaster, Japan, 2011
Journal or Publication Title: Energy Economics
Publisher: Elsevier BV
ISSN: 0140-9883
Official Date: August 2017
Dates:
DateEvent
August 2017Published
22 July 2017Available
17 July 2017Accepted
Volume: 66
Page Range: pp. 450-465
DOI: 10.1016/j.eneco.2017.07.010
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access
Date of first compliant deposit: 15 August 2017
Date of first compliant Open Access: 1 February 2019
Funder: Engineering and Physical Sciences Research Council (EPSRC)
Grant number: EP/K002228 (EPSRC)

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