16.Makishi Sakaguchi（Faculty of Economics / Master's Course）

Merit order effect of Japan Electric Power Exchanges

The merit order effect (MOE),which renewable energy sources can decrease wholesale electricity prices, plays an important role in establishing low-carbon societies. Ordinary least squares and quantile regression analyses were applied in this study to investigate how wind and solar photovoltaics (PV) energy generation affect the JEPX(Japan Electric Power Exchange) day-ahead spot price by time, price range, and area. And we concluded that wind power has more potential to reduce electricity prices than PV. Also the MOE varies a lot by area. Hence, considering eash area electricity market features can have more social benefit when installing new renewable energy sources.