%0 Journal Article
%T Testing Merit-Order Effect in Turkey¡¯s Electricity Market: The Effect of Wind Penetration on Day-Ahead Electricity Prices
%A Erdost TORUN
%A Istemi BERK
%J -
%D 2019
%X Due to recent support mechanisms, the share of renewable energy sources, particularly wind, in Turkey¡¯s electricity generation has increased significantly. Increasing renewable penetration is supposed to decrease the electricity prices, which is known as the merit-order effect. Main purpose of this article is to test the existence of merit-order effect in Turkish electricity market. To this end, a nonparametric Granger causality test based on wavelet transformation is applied on a daily data set covering Turkish day-ahead power market clearing prices and electricity generation from wind over the period between 2011 and 2018. The overall results confirm the existence of the merit-order effect of wind in Turkey's electricity market. It is also observed that the strength of the negative causality alters drastically over different sub-periods
%K T¨¹rkiye elektrik piyasas£¿
%K r¨¹zgar penetrasyonu
%K merit s£¿n£¿fland£¿rma etkisi
%K CWT Granger nedensellik
%U http://dergipark.org.tr/auiibfd/issue/44940/559394