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Electricity Markets in a Time of Change : A Call to Arms for Business Research

Title data

Bichler, Martin ; Buhl, Hans Ulrich ; Knörr, Johannes ; Maldonado, Felipe ; Schott, Paul ; Waldherr, Stefan ; Weibelzahl, Martin:
Electricity Markets in a Time of Change : A Call to Arms for Business Research.
In: Schmalenbach Journal of Business Research. Vol. 74 (2022) . - pp. 77-102.
ISSN 2366-6153

Official URL: Volltext

Project information

Project title:
Project's official title
Project's id
Projektgruppe WI Energie und kritische Infrastrukturen
No information

Abstract in another language

Europe’s clean energy transition is imperative to combat climate change
and represents an economic opportunity to become independent of fossil fuels. As
such, the energy transition has become one of the most important, but also one of
the most challenging economic and societal projects today. Electricity systems of
the past were characterized by price-inelastic demand and only a small number of
large electricity generators. The transition towards intermittent renewable energy
sources changes this very paradigm. Future electricity systems will consist of many
thousands of electricity generators and consumers that actively participate in markets,
offering flexibility to balance variable electricity supply in markets with a high
spatial and temporal resolution. These structural changes have ample consequences
for market operators, generators, industrial consumers as well as prosumers.While a
large body of the literature is devoted to the energy transition in engineering and the
natural sciences, it has received relatively little attention in the recent business research
literature, even though many of the central challenges for a successful energy
transition are at the core of business research. Therefore, we provide an up-to-date
overview of key questions in electricity market design and discuss how changes in electricity markets lead to new research challenges in business research disciplines
such as accounting, business & information systems engineering, finance, marketing,
operations management, operations research, and risk management.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: Electricity market design; Energy transition; Renewable energy sources; Demand response
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Research Institutions
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Fraunhofer Project Group Business and Information Systems Engineering
Research Institutions > Affiliated Institutes > FIM Research Center Finance & Information Management
Faculties > Faculty of Law, Business and Economics
Result of work at the UBT: Yes
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 17 Jan 2022 09:16
Last Modified: 09 May 2022 09:56