| Abstract [eng] |
The final master's project analyzes and studies how renewable energy resources influence wholesale electricity prices in Lithuania. This topic is currently particularly relevant in today's society, because the fluctuation of electricity prices is very volatile, due to the geopolitical situation. For countries like Lithuania, energy sovereignty is achieved using green technologies, because the geographical location is not rich in other resources. The development of renewable energy resources is encouraged by the European Union, which strives to provide consumers with safe, sustainable and competitive energy. The adopted directives seek to abolish monopoly and create liberalized electricity markets that would be accessible to all consumers. Also, various regulations have been drawn up that cover the needs of renewable energy resources, promote their development with various subsidies and solve ecological problems, so the growth of the renewable energy sector is inevitable, for this reason it is relevant to find out what influence can be exerted on wholesale electricity prices. In order to assess this influence, first of all, the policy of using renewable energy resources, promotion measures and perspectives are analyzed, the theoretical aspects affecting electricity prices are discussed, and a methodology is created based on which the results of the impact of renewable energy resources are obtained. The study is based on the laws of supply and demand in markets where the marginal price principle is used, i.e. each market participant is charged the same price, which is determined by the intersection of the aggregate supply and aggregate demand curves, which is also called market equilibrium. The supply curve is laid out according to the marginal cost of producers and the final wholesale price of electricity is based on the marginal cost of the last producer. With this principle, different market situations are analyzed and the size of the shift in the supply curve is assessed, which depends on the amount of generation of renewable energy resources at that time. The results show that increased renewable generation by 1% theoretically reduces wholesale electricity prices by 0,2% during peak demand. |
