The purpose of this study, which constitutes a literature review, was to investigate the impact of wind power on electricity prices. For this purpose to be achieved, the impact of wind power was first examined at a more theoretical and general perspective. This theoretical approach was then further specified by the examination of the particular impact on four EU member-states (Denmark, Germany, Portugal and Spain), all of which are leading-countries in the effort for the increased penetration of RES in general and wind power in particular in their electricity mix. The results of the examined memberstates, backed up by the theoretical observations showed that indeed the impact of wind power on electricity prices is significant. More specifically, it leads to the so called merit order effect or to the decline of electricity prices, yet concurrently exacerbates electricity prices’ volatility.
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