01907nab a2200181 4500 20260520000812.0 260224s2008 xxu Klessmann, Corina 40730 Pros and cons of exposing renewables to electricity market risks-A comparison of the market integration approaches in Germany, Spain, and the UK Oct. 2008 2009-04-06 ; 2009-04-06 16 p. ; 3646-3661 Transcripción del resumen publicado por el autor: The article examines how renewable electricity (RES-E) producers are integrated into the electricity market under the support legislations and regulatory frameworks of Germany, Spain, and the UK. Focus is on wind power, which faces the highest market integration challenge of all RES-E. The analysis shows that the three countries follow contrasting approaches of exposing RES-E producers to the market risks of forward electricity markets, balancing markets and system planning requirements. Risk exposure is highest in the UK and lowest in Germany. From a policy maker's perspective, there is a trade-off between a "high risk" and a "low risk" approach. When RES-E face high market risks, a higher level of financial support is required to stimulate RES-E development than in a low risk environment, but the exposure to market risks may also give an incentive to make efficient use of the respective market, thus limiting the indirect costs to society. The special characteristics of wind energy, however, put natural limits to the response of wind power plants to market prices and locational price signals and will increasingly influence electricity markets and grid infrastructure. These interdependencies should be recognised in the design of RES-E policies and market regulations 10 Energy Policy 36 ARTICULO 169458 169458 0 0 0 0 237277 BAAB BAAB 2026-03-05 200044259 0 200044259 2026-03-05 15:11:38 2026-03-05 ARTICULO