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No.17 Renewable Energy Generation Effects on the Electricity Market:
An Empirical Study on Japan's Electricity Spot Market
This study examines the impact of renewable electricity supply on Japan's electricity spot market. By using the renewable electricity generation data collected from nine traditional electric power companies, as well as the spot price data collected from Japan Electric Power Exchange, we examine both the impact of renewable electricity supply on Japan's electricity spot market and how this impact was influenced by regional differences. Our results indicate that the increase in solar power generation has caused a reduction in spot electricity prices in Japan, while such an impact cannot be observed in the wind power sector. Furthermore, our results illustrate that regional differences also exist in Japan's spot market. We assume that the available transfer capabilities of cross-regional interconnection lines, the scale of regional spot market, and the transaction volume are important factors that affect the impact of renewable electricity generation on spot prices.
Keywords：Spot Market, Renewable Electricity, Regional effects, Japan