German energy market fallout from the Japanese\ud earthquake\ud

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Grossi, Luigi ; Waterson, Michael (2013)
  • Publisher: Department of Economics, University of Warwick
  • Subject: HB

The German response to the Fukushima nuclear power plant incident was possibly the most\ud significant change of policy towards nuclear power outside Japan, leading to a sudden and very\ud significant shift in the underlying power generation structure in Germany. This provides a very useful\ud natural experiment on the impact of changing proportions of conventional fuel inputs to power\ud production, helping us to see how changed proportions in future as a result of policy moves in favour of\ud renewables are likely to impact. We find through exploration of a conventional demand- supply\ud framework that despite the swift, significant change, the main impact was a relatively modest increase in\ud prices occasioned by a shift of the supply curve; there were no appreciable quantity effects on the market,\ud such as power outages, despite some views that the impacts would be significant.\ud
  • References (17)
    17 references, page 1 of 2

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    [10] J. Hill and T. Schneeweis (1983), The Effect of Three Mile Island on Electric Utility Stock Prices: A Note, Journal of Finance, vol. 38 (4), pp. 1285-1292.

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