eprintid: 49454
rev_number: 12
eprint_status: archive
userid: 1482
importid: 105
dir: disk0/00/04/94/54
datestamp: 2024-09-13 12:36:54
lastmod: 2024-09-13 12:36:54
status_changed: 2024-09-13 12:36:54
type: conference_item
metadata_visibility: show
creators_name: Lamp, Stefan
creators_name: Samano, Mario
creators_name: Tiedemann, Silvana
creators_idrefppn: 24158678X
creators_halaffid: 1002422
contributors_type: http://www.loc.gov/loc.terms/relators/SPK
contributors_name: Lamp, Stefan
contributors_affiliation: Toulouse School of Economics
title: Firms' Bidding Behavior in a New Market: Evidence from Renewable Energy Auctions
ispublished: pub
subjects: subjects_ECO
abstract: Auctions are increasingly used by governments to select suppliers and determine levels of policy support. In the context of renewable energy (RE) investment, they have become dominant in the ongoing energy transition. This paper makes use of unique bid-level data from German RE pay-as-bid auctions (2015-2019) to document bidding behavior of firms in this newly established market and recover bidders’ costs by estimating a structural model of multi-unit auctions. We show that bidding behavior has changed over time and explore alternative mechanisms driving the observed price
evolution and conduct counterfactual analyses to examine the impact of implementing a non-discriminatory auction format. Our primary findings indicate that adopting a non-discriminatory auction would have resulted in reduced subsidy expenses and mitigated market power. By identifying the factors influencing bidding prices and costs,
our empirical insights offer gui
date: 2024-06-06
date_type: published
official_url: http://tse-fr.eu/pub/129376
faculty: tse
divisions: tse
keywords: electricity markets
keywords: renewable energy
keywords: pay-as-bid auctions
keywords: non-discriminatory
keywords: auctions, government support policies
language: en
has_fulltext: TRUE
subjectsJEL: JEL_D44
subjectsJEL: JEL_L51
subjectsJEL: JEL_Q42
subjectsJEL: JEL_Q48
view_date_year: 2024
full_text_status: public
pres_type: other
publication: 14th Toulouse Conference on the Economics of Energy and Climate
event_title: 14th Toulouse Conference on the Economics of Energy and Climate
event_location: Toulouse School of Economics
event_dates: 6-7/06/2024
event_type: conference
book_title: 14th Toulouse Conference on the Economics of Energy and Climate
oai_identifier: oai:tse-fr.eu:129376
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oai_lastmod: 2024-06-14T13:06:05Z
oai_set: tse
site: ut1
citation:   Lamp, Stefan <https://www.idref.fr/24158678X>, Samano, Mario and Tiedemann, Silvana  (2024) Firms' Bidding Behavior in a New Market: Evidence from Renewable Energy Auctions.   In: 14th Toulouse Conference on the Economics of Energy and Climate, 6-7/06/2024, Toulouse School of Economics.     
document_url: https://publications.ut-capitole.fr/id/eprint/49454/1/lamp.pdf