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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
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Official URL: http://dx.doi.org/10.1016/j.eneco.2017.07.010
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 | ||||||||
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| Subjects: | H Social Sciences > HC Economic History and Conditions T Technology > TK Electrical engineering. Electronics Nuclear engineering |
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| 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: |
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| 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 | ||||||||
| Funder: | Engineering and Physical Sciences Research Council (EPSRC) | ||||||||
| Grant number: | EP/K002228 (EPSRC) |
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