The merit order effect of renewable energy generation on wholesale electricity spot market prices in the Philippines
| dc.contributor.advisor | Sabarillo, Anthony G. | |
| dc.contributor.author | Cabral, Althea Mhai G. | |
| dc.contributor.author | Morikawa, Shannen Marri S. | |
| dc.date.accessioned | 2026-02-26T08:15:40Z | |
| dc.date.available | 2026-02-26T08:15:40Z | |
| dc.date.issued | 2026-01-07 | |
| dc.description.abstract | "This thesis examines the relationship between renewable energy generation and electricity prices in the Wholesale Electricity Spot Market of the Philippines. Using hourly system marginal price and technology-disaggregated renewable energy generation data from 2014 to 2021, this study observes the (1) overall effect of renewables on spot market prices, (2) disaggregated effects of solar, wind, geothermal, and hydro energy sources, and (3) variations in results arising from differences between daytime versus nighttime and dry versus rainy seasons through an Ordinary Least Squares regression framework with dummies for time effects and regional differences. Results show that the impact of renewables on spot market prices in the country is heavily dependent on the type of technology, where variable renewables such as solar and wind exhibit a negative association with prices, but non-variable renewables such as hydro and geothermal do the opposite. These findings suggest that the merit order effect, which describes how renewables push out more expensive generators and lower the cost of electricity prices, does not necessarily uniformly occur in the Philippine setting. This thesis contributes one of the first empirical examinations of the effect of RE generation on WESM prices as the country attempts to balance the energy trilemma of sustainability, security, and affordability in its transition towards renewable energy." | |
| dc.identifier.uri | https://selib.upd.edu.ph/etdir/handle/123456789/5214 | |
| dc.language.iso | en | |
| dc.subject | merit order effect | |
| dc.subject | electricity | |
| dc.subject | spot market | |
| dc.title | The merit order effect of renewable energy generation on wholesale electricity spot market prices in the Philippines | |
| dc.type | Thesis |