How is Wind Energy Changing The Price Dynamics in Turkish Power Market?
The purpose of this paper is to investigate the price dynamics in Turkish power market, and discuss the effects of intermittent renewable energy technologies on electricity power market. For this purpose, long-run and short-run relations between electricity prices, fossil fuel prices and wind power generation output are investigated by using monthly data between 2012 and 2018. The results show that the wind power has statistically significant impact on wholesale market prices as expected. On the other hand, this effect is smaller relative to other major fuel sources, since the share of wind technologies is still low compared to other technologies.