Faculty Profile

Johannes Mauritzen

Associate Professor - Campus Trondheim

Publications

Mauritzen, Johannes (2020)

Are Solar Panels Commodities? Evidence of Quality Differences and Asymmetric Information

European Journal of Operational Research, 280(1), s. 365- 382. Doi: 10.1016/j.ejor.2019.07.001

Mauritzen, Johannes & Tangerås, Thomas (2019)

Real-time versus day-ahead market power in a hydro-based electricity market

Journal of Industrial Economics, 66(4) Doi: 10.1111/joie.12186

Fleten, Stein-Erik; Mauritzen, Johannes & Ullrich, Carl J. (2018)

The other renewable: Hydropower upgrades and renewable portfolio standards

Energy Journal, 39(2), s. 197- 217. Doi: 10.5547/01956574.39.2.sfle - Full text in research archive

A total of 29 U.S. states and the District of Columbia have in place mandatory Renewable Portfolio Standards (RPS) which require that a minimum amount of energy come from renewable resources. We investigate the role of hydropower vis-a-vis other renewables under RPS. Using a Bayesian multilevel model, we find that hydropower plants subject to RPS are more likely to plan upgrades. These planned upgrades appear to be a substitute for solar and wind rather than complementary reserve generation.

Mauritzen, Johannes (2017)

Cost, Contractors and Scale: An Empirical Analysis of the California Solar Market

Energy Journal, 38(6), s. 177- 197. Doi: 10.5547/01956574.38.6.jmau

Mauritzen, Johannes (2017)

The effect of oil prices on field production: evidence from the Norwegian continental shelf

Oxford Bulletin of Economics and Statistics, 79(1), s. 124- 144. Doi: 10.1111/obes.12138 - Full text in research archive

Mauritzen, Johannes (2015)

How price spikes can help overcome the energy efficiency gap

Economics Letters, 134, s. 114- 117. Doi: 10.1016/j.econlet.2015.07.008 - Full text in research archive

Mauritzen, Johannes (2015)

Now or Later? Trading wind power closer to real-time and how poorly designed subsidies lead to higher balancing costs

Energy Journal, 36(4), s. 149- 164. Doi: 10.5547/01956574.36.4.jmau

Mauritzen, Johannes (2014)

Scrapping a wind turbine: Policy changes, scrapping incentives and why wind turbines in good locations get scrapped first

Energy Journal, 35(2), s. 157- 181. Doi: 10.5547/01956574.35.2.8 - Full text in research archive

Mauritzen, Johannes (2013)

Dead Battery? Wind Power, the Spot Market, and Hydropower Interaction in the Nordic Electricity Market

Energy Journal, 34(1), s. 103- 124. Doi: 10.5547/01956574.34.1.5 - Full text in research archive

Mauritzen, Johannes (2020)

Are Solar Panels Commodities? Evidence of Quality Differences and Asymmetric Information

European Journal of Operational Research, 280(1), s. 365- 382. Doi: 10.1016/j.ejor.2019.07.001

Mauritzen, Johannes (2020)

Are Solar Panels Commodities? Evidence of Quality Differences and Asymmetric Information

European Journal of Operational Research, 280(1), s. 365- 382. Doi: 10.1016/j.ejor.2019.07.001

Mauritzen, Johannes & Tangerås, Thomas (2019)

Real-time versus day-ahead market power in a hydro-based electricity market

Journal of Industrial Economics, 66(4) Doi: 10.1111/joie.12186

Mauritzen, Johannes & Tangerås, Thomas (2019)

Real-time versus day-ahead market power in a hydro-based electricity market

Journal of Industrial Economics, 66(4) Doi: 10.1111/joie.12186

Fleten, Stein-Erik; Mauritzen, Johannes & Ullrich, Carl J. (2018)

The other renewable: Hydropower upgrades and renewable portfolio standards

Energy Journal, 39(2), s. 197- 217. Doi: 10.5547/01956574.39.2.sfle - Full text in research archive

A total of 29 U.S. states and the District of Columbia have in place mandatory Renewable Portfolio Standards (RPS) which require that a minimum amount of energy come from renewable resources. We investigate the role of hydropower vis-a-vis other renewables under RPS. Using a Bayesian multilevel model, we find that hydropower plants subject to RPS are more likely to plan upgrades. These planned upgrades appear to be a substitute for solar and wind rather than complementary reserve generation.

Fleten, Stein-Erik; Mauritzen, Johannes & Ullrich, Carl J. (2018)

The other renewable: Hydropower upgrades and renewable portfolio standards

Energy Journal, 39(2), s. 197- 217. Doi: 10.5547/01956574.39.2.sfle - Full text in research archive

A total of 29 U.S. states and the District of Columbia have in place mandatory Renewable Portfolio Standards (RPS) which require that a minimum amount of energy come from renewable resources. We investigate the role of hydropower vis-a-vis other renewables under RPS. Using a Bayesian multilevel model, we find that hydropower plants subject to RPS are more likely to plan upgrades. These planned upgrades appear to be a substitute for solar and wind rather than complementary reserve generation.

Mauritzen, Johannes (2017)

Cost, Contractors and Scale: An Empirical Analysis of the California Solar Market

Energy Journal, 38(6), s. 177- 197. Doi: 10.5547/01956574.38.6.jmau

Mauritzen, Johannes (2017)

The effect of oil prices on field production: evidence from the Norwegian continental shelf

Oxford Bulletin of Economics and Statistics, 79(1), s. 124- 144. Doi: 10.1111/obes.12138 - Full text in research archive

Mauritzen, Johannes (2017)

Cost, Contractors and Scale: An Empirical Analysis of the California Solar Market

Energy Journal, 38(6), s. 177- 197. Doi: 10.5547/01956574.38.6.jmau

Mauritzen, Johannes (2017)

The effect of oil prices on field production: evidence from the Norwegian continental shelf

Oxford Bulletin of Economics and Statistics, 79(1), s. 124- 144. Doi: 10.1111/obes.12138 - Full text in research archive

Mauritzen, Johannes (2016)

Lease or Buy? Quality differences and asymmetric information in California solar panels

IAEE International Conference

Tangerås, Thomas & Mauritzen, Johannes (2015)

Real-time Versus Day-ahead Market Power in a Hydro-based Electricity Market

IAEE International Conference

Mauritzen, Johannes (2015)

How price spikes can help overcome the energy efficiency gap

Economics Letters, 134, s. 114- 117. Doi: 10.1016/j.econlet.2015.07.008 - Full text in research archive

Mauritzen, Johannes (2015)

Køprising skal gjøre vondt

Bergens Tidende

Mauritzen, Johannes (2015)

Now or Later? Trading wind power closer to real-time and how poorly designed subsidies lead to higher balancing costs

Energy Journal, 36(4), s. 149- 164. Doi: 10.5547/01956574.36.4.jmau

Mauritzen, Johannes (2015)

How price spikes can help overcome the energy efficiency gap

Economics Letters, 134, s. 114- 117. Doi: 10.1016/j.econlet.2015.07.008 - Full text in research archive

Mauritzen, Johannes (2015)

Now or Later? Trading wind power closer to real-time and how poorly designed subsidies lead to higher balancing costs

Energy Journal, 36(4), s. 149- 164. Doi: 10.5547/01956574.36.4.jmau

Mauritzen, Johannes (2014)

Sun and Lemons: Getting over InformationAsymmetries in the California Solar Market

Norges Handelshoeyskole. Institutt for Foretaksoekonomi. Discussion Paper

Mauritzen, Johannes (2014)

The Effect of Oil Prices on Offshore Production: Evidence from the Norwegian Continental Shelf

Norges Handelshoeyskole. Institutt for Foretaksoekonomi. Discussion Paper

Mauritzen, Johannes & Tangerås, Thomas (2014)

Real-time Versus Day-ahead Market Power in a Hydro-based Electricity Market

Norges Handelshoeyskole. Institutt for Foretaksoekonomi. Discussion Paper

Mauritzen, Johannes (2014)

Scrapping a wind turbine: Policy changes, scrapping incentives and why wind turbines in good locations get scrapped first

Energy Journal, 35(2), s. 157- 181. Doi: 10.5547/01956574.35.2.8 - Full text in research archive

Mauritzen, Johannes (2014)

Scrapping a wind turbine: Policy changes, scrapping incentives and why wind turbines in good locations get scrapped first

Energy Journal, 35(2), s. 157- 181. Doi: 10.5547/01956574.35.2.8 - Full text in research archive

Mauritzen, Johannes (2013)

Dead Battery? Wind Power, the Spot Market, and Hydropower Interaction in the Nordic Electricity Market

Energy Journal, 34(1), s. 103- 124. Doi: 10.5547/01956574.34.1.5 - Full text in research archive

Mauritzen, Johannes (2013)

Dead Battery? Wind Power, the Spot Market, and Hydropower Interaction in the Nordic Electricity Market

Energy Journal, 34(1), s. 103- 124. Doi: 10.5547/01956574.34.1.5 - Full text in research archive

Mauritzen, Johannes (2018)

Vindkraft er særlig gunstig i Norge

Adresseavisen [Kronikk]

Mauritzen, Johannes (2016)

Serieproduksjon skaper energirevolusjon

sysla.no [Kronikk]

Mauritzen, Johannes (2013)

Livet Etter Oljen

Bergens Tidende [Kronikk]

Mauritzen, Johannes (1)

Derfor blir solenergi billigere

sysla.no [Kronikk]

Mauritzen, Johannes (2019)

The auditor and dividend payout in small private firms: Evidence from a natural experiment

[Academic lecture]. Nordic Industrial Organisation Conference.

Mauritzen, Johannes (2019)

Aggregating or diversifying risk? Tail correlations, transmission flows and prices across wind power areas

[Academic lecture]. International Association for Energy Economics, International Conference, Montreal.

Mauritzen, Johannes & Lyngstadås, Hakim (2019)

The auditor, asymmetric information and dividend payout in small private firms: Evidence from a natural experiment.

[Academic lecture]. FIBE.

Mauritzen, Johannes & Lyngstadås, Hakim (2018)

The auditor, asymmetric information and dividend payout in small private firms: Evidence from a natural experiment

[Academic lecture]. NTNU Business School Conference & Phd seminar.

Mauritzen, Johannes (2018)

The auditor, asymmetric information and dividend payout in small private firms: Evidence from a natural experiment

[Academic lecture]. NTNU Business School Conference.

Mauritzen, Johannes (2018)

Aggregating or diversifying risk? Transmission flows and prices between two wind power areas.

[Academic lecture]. International Conference on Computational and Financial Econometrics.

Mauritzen, Johannes (2018)

Are Solar Panels Commodities? Evidence of Quality Differences and Asymmetric Information from California

[Academic lecture]. Energy & Finance Christmas Workshop.

Mauritzen, Johannes (2018)

The effect of wind power investments on rural labor markets

[Academic lecture]. International Association for Energy Economics International Conference.

I examine the labor market effects of wind power investment in rural counties in the US. I combine quarterly panel data on county employment and wages with data on all wind power plant investments larger than 1 mega-watt (MW). I argue that wind power investments can to a high degree be considered exogenous to outcomes in labor markets due to a dependence on average wind speeds. In addition, identification is achieved through a multilevel model where unobserved time-invariant county variables are con- trolled for. I find no significant effect on net employment, but find that on average, a mid-sized 200 MW wind farm leads to a permanent increase in wages of approximately 2.5 percent. The findings have implications for energy policy and provides a case-study that can inform broader questions and discussions of US labor market. I estimate the model with a Bayesian approach, using Markov Chain Monte-Carlo simulations.

Mauritzen, Johannes (2017)

The winds of change: The effect of wind power investments on rural labor markets

[Academic lecture]. CATE workshop on applied and theoretical econometrics.

Mauritzen, Johannes; Fleten, Stein-Erik & Ulrich, Carl (2017)

The Other Renewable: Hydro power upgrades and renewable portfolio standards

[Academic lecture]. Bergen Energy and Environmental Economics Conference.

Mauritzen, Johannes (2017)

Strømkabler til Europa vil være bra for Norge

[Article in business/trade/industry journal]. sysla.no

Mauritzen, Johannes (2016)

The Other Renewable: Investment in Hydropower and Renewable Portfolio Standards

[Academic lecture]. International Real Options Conference.

Mauritzen, Johannes (2016)

Lease or Buy? Quality differences and asymmetric information in California solar panels

[Academic lecture]. Nordic Industrial Organisation Conference.

Mauritzen, Johannes (2015)

"En verden med billig solkraft", i "Hva Betyr solenergirevolusjonen", rapport nr. 5/2015

[Report]. Klimastiftelsen.

Mauritzen, Johannes (2015)

The effect of oil prices on production: Evidence from the Norwegian Continental Shelf

[Academic lecture]. Invited Seminar, NTNU Department of Industrial Economics.

Mauritzen, Johannes (2015)

Sun and Lemons: Getting over information asymmetries in the California Solar Market

[Academic lecture]. Invited Seminar, RWTH Aachen Department of Economics.

Mauritzen, Johannes (2015)

The Effect of oil prices on production: Evidence from the Norwegian Continental Shelf

[Academic lecture]. Workshop on Petroleum Economics.

Mauritzen, Johannes (2015)

The effect of oil prices on production: evidence from the Norwegian Continental Shelf

[Academic lecture]. University of Stavanger Business School, Seminar Series.

Mauritzen, Johannes (2015)

Sun and Lemons: Getting over information asymmetries in the California Solar Power Market

[Academic lecture]. UCL Department of Statistics Seminar.

Mauritzen, Johannes (2015)

Sun and Lemons: Getting over asymmetric information in the California solar power market

[Academic lecture]. Allied Social Sciences Associations Conference.

Mauritzen, Johannes (2015)

Sun and Lemons: Getting over Information Asymmetries in the California Solar Market

[Academic lecture]. FIBE XXXII 2015. Fagkonferanse i bedriftsøkonomiske emner.

A large expansion of photovoltaic panel production in China coin- cided with a dramatic fall in the cost of solar photovoltaic systems in California and a boom in installations between 2009 and 2013. How- ever the roll of local contractors that install the systems is not well understood. Using detailed data of approximately 125,000 solar in- stallations in California between 2007 and 2014 I argue that the boom in installations can not be explained by cheaper Chinese panel produc- tion in isolation. Instead, the introduction of Chinese panels is closely intertwined with the introduction of an innovative business model at the contractor level that solves an asymmetric information problem. Solar panels are long-lived productive assets, where quality is impor- tant but costly for individual consumers to verify. The adoption of a leasing model by several large local installers solved the asymmetric information problem and led to the adoption of Chinese panels and in turn lower overall system prices and more installations. Using a multilevel regression, I model the firm level decisions of introducing a leasing model and adopting Chinese panels directly. I show a strong and significant interaction effect between these decision variables.

Mauritzen, Johannes (2014)

The effect of price on oil field production: Evidence from the Norwegian Continental Shelf

[Academic lecture]. Geilo Seminar 2014 - Seminar for Institutt for foretaksøkonomi, Norges Handelshøyskole.

I use detailed field-level data on Norwegian off-shore oil field production and a semi-parametric additive model to control for the production profile of fields to estimate the effect of oil prices on production. I find no significant evidence of a concurrent reaction of field production to oil prices, though a slight lagged effect is found of the magnitude of approximately 2 to 4% for a 10 dollar per barrel increase in the real price of oil. Most of this effect appears to come in the planning phase of a field’s development.

Mauritzen, Johannes (2014)

The Effect of Oil Price on Field Production: Evidence from the Norwegian Continental Shelf

[Academic lecture]. Bergen Economics of Energy and Environment Research Conference (BEEER) 2014.

I use detailed field-level data on Norwegian off-shore oil field production and a semi-parametric additive model to control for the production profile of fields to estimate the effect of oil prices on production. I find no significant evidence of a concurrent reaction of field production to oil prices, though a slight lagged effect is found of the magnitude of approximately 2 to 4% for a 10 dollar per barrel increase in the real price of oil. Most of this effect appears to come in the planning phase of a field’s development.

Mauritzen, Johannes (2014)

Sun and Lemons: Getting over Information Asymmetries in the California Solar Market

[Report]. Norges Handelshøyskole. Institutt for Foretaksøkonomi.

Using detailed data of approximately 125,000 solar photovoltaic systems installed in California between 2007 and 2014 I argue that the adoption of solar panels from Chinese manufacturers and the introduction of a leasing model for solar systems are closely intertwined. First, cheaper Chinese panels allowed a leasing model to be profitable for contractors. But an asymmetric information problem exists in the market for solar panels. Solar panels are long-lived productive assets, where quality is important but costly for individual consumers to verify. Consumers can instead be expected to rely on brands and observed reliability. This led to a barrier to entry for cheaper panels from new, primarily Chinese manufacturers. The adoption of a leasing model by several large local installers solved the asymmetric information problem and led to the adoption of Chinese panels and in turn lower overall system prices.

Mauritzen, Johannes (2014)

The effect of oil prices on offshore production: evidence from the Norwegian Continental Shelf

[Report]. Norges Handelshøyskole. Institutt for Foretaksøkonomi.

I use detailed field-level data on Norwegian off-shore oil field production and a semi-parametric additive model to control for the production profile of fields to estimate the effect of oil prices on production. I find no significant evidence of a concurrent reaction of field production to oil prices, though a slight lagged effect is found of the magnitude of approximately 2 to 4% for a 10 dollar per barrel increase in the real price of oil. Most of this effect appears to come in the planning phase of a field’s development.

Tangerås, Thomas & Mauritzen, Johannes (2014)

Real-time versus day-ahead market power in a hydro-based electricity market

[Report]. Norges Handelshøyskole. Institutt for Foretaksøkonomi.

We analyse in a theoretical framework the link between real-time and day-ahead market performance in a hydro-based and imperfectly competitive wholesale electricity market. Theoretical predictions of the model are tested on data from the Nordic power exchange, Nord Pool Spot (NPS).We reject the hypothesis that prices at NPS were at their competitive levels throughout the period under examination. The empirical approach uses equilibrium prices and quantities and does not rely on bid data nor on estimation of demand or marginal cost functions.

Mauritzen, Johannes (2014)

The Effect of Oil Prices on Offshore Production: Evidence from the Norwegian Continental Shelf

[Academic lecture]. FIBE XXXI 2014. Fagkonferanse i bedriftsøkonomiske emner.

A large literature exists on the effect of oil prices on the macro economy as well supply-side questions such as increased searching and total production. However to my knowledge no studies exist of the effect of oil price on production in existing fields. I use detailed data on Norwegian oil field production and a semi-parametric additive model to control for the production profile of fields. I find no significant evidence of a concurrent reaction of field production to oil prices, though a slight lagged effect is found of the magnitude of approximately 2 to 4% for a 10 dollar per barrel increase in the real price of oil. These findings are consistent with the idea of producers that do not act strategically to short-term price movements but instead use storage and financial derivatives as short-term hedges.

Mauritzen, Johannes (2014)

The Effect of Oil Prices on Offshore Production: Evidence from the Norwegian Continental Shelf

[Academic lecture]. IAEE International Conference, New York.

Mauritzen, Johannes (2014)

The Great Fall: Global vs. Local Economies of Scale in the California Solar Power Market

[Academic lecture]. IAEE Asia Conference, Beijing.

Mauritzen, Johannes (2013)

The Silver Lining of Price Spikes: How electricity price spikes can help overcome the energy efficiency gap

[Report]. Norges Handelshøyskole. Institutt for foretaksøkonomi.

Studies have shown that many consumers and businesses fail to invest in energy efficiency improvements despite seemingly ample financial incentives to do so – the so-called energy efficiency gap. Attempts to explain this gap often focus on searching costs, information frictions and behavioral factors. Using data on Norwegian electricity prices and Google searches for heat pumps, I suggest that the inherently spikey nature of many deregulated electricity markets – often seen as a sign of inefficiency – has a strong and significant positive effect on searching for information on energy efficiency goods. I attempt to identify the informational/behavioral effect by using a novel method of measuring spikiness: decomposing the price series into a range of Loess smoothed series and deviations from these curves.

Mauritzen, Johannes (2013)

Now or Later? Trading wind power closer to real-time and how poorly designed subsidies lead to higher balancing costs

[Report]. Norges Handelshøyskole. Institutt for foretaksøkonomi.

An important challenge facing many deregulated electricity markets is dealing with the increasing penetration of intermittent generation. Simulation studies have pointed to the advantages of trading closer to real-time with large amounts of intermittent generation. Using Danish data, I show that, as expected, shortfalls increase the probability of trade on the shortterm market. But in the period between 2010 and 2012 surpluses are shown to decrease the probability of trade. This unexpected result is likely explained by wind power policies that discourages trading on Elbas and leads to unnecessarily high balancing costs. I use a rollingwindow regression to support this claim.

Mauritzen, Johannes (2013)

The Silver Lining of Price Spikes: How Price Spikes Can Help Overcome the Energy Efficiency Gap

[Academic lecture]. Bergen Energy and Environmental Economics Conference (BEEER).

Economists have long puzzled over how many consumers and businesses fail to invest in energy efficiency improvements despite seemingly ample financial incentives to do so – the so-­called energy efficiency gap. Attempts to explain this gap often focus on access to information and searching costs. In this paper I show that the inherently spikey nature of many electricity market – often seen as a negative – has a strong and significant positive effect on searching for information on energy efficiency. I use data on Norwegian electricity prices and google searches for heat pumps in Norway. A novel method of measuring spikiness by comparing the actual series with a range of lowess smoothed series is used.

Mauritzen, Johannes (2013)

The Silver Lining of Price Spikes: How electricity price spikes can help overcome the energy efficiency gap

[Academic lecture]. European International Association for Energy Economics Conference.

Mauritzen, Johannes (2011)

An empirical analysis of wind power on price volatility

[Academic lecture]. NAEE Meeting.

Mauritzen, Johannes (2011)

Scrapping a wind turbine: opportunity cost, policy and timing

[Academic lecture]. Swedish Association of Energy Economics Annual Meeting.

Mauritzen, Johannes (2011)

The Decision to Scrap a Wind Turbine: Opportunity Cost, Timing and Policy

[Academic lecture]. The 30th USAEE/IAEE North American Conference.

This paper attempts to empirically identify the key factors involved in the decision to scrap a wind turbine using data from Denmark. The importance of the opportunity cost of operating an older wind turbine is shown to be a prominent factor in the decision to scrap. I show the strong effect that renewable energy policy plays in the decision to scrap a turbine. Through the use of both non-parametric and semi-parametric duration models and an instrumental variables approach I identify a strong effect for scrapping schemes put in place by the Danish government. I also obtain the, initially, counter-intuitive result that more effective wind turbines have a higher hazard of being scrapped.

Mauritzen, Johannes (2011)

What happens when it's windy in Denmark? An Empirical Analysis of Wind Power on price Volatility in the Nordic Electricity Market

[Academic lecture]. The 34th IAEE International Conference.

This paper attempts to empirically test the effect that wind power production in Denmark has on volatility of the nordpool wholesale electricity prices. The main result is that wind power tends to significantly reduce intraday volatility but increases volatility over larger time windows. The negative elasticity for intraday volatility is likely due to a larger-in-magnitude price effect of wind power on peak hours then off-peak hours. I suggest that this in turn is due to a steeper supply schedule at peak-loads. The positive elasticities in the wider time windows can be intuitively explained by the greater variability of the supply when large amounts of wind power are present. These finding have ramifications for investment in power generation, balancing as well as transmission capacity.

Mauritzen, Johannes (2011)

Dead Battery? Wind Power, the Spot Market, and Hydro Power Interaction in the Nordic Electricity Market

[Academic lecture]. Workshop on Pricing in Deregulated Electricity Markets.

Mauritzen, Johannes (2011)

Oh Scrap! The decision to scrap a wind turbine: opportunity cost, policy and timing

[Academic lecture]. Brownbag Seminar.

Mauritzen, Johannes (2011)

The Decision to Scrap a Wind Turbine: Opportunity Cost, Timing and Policy

[Report]. Norges Handelshøyskole. Institutt for foretaksøkonomi.

This paper attempts to empirically identify the key factors involved in the decision to scrap a wind turbine using data from Denmark. The importance of the opportunity cost of operating an older wind turbine is shown to be a prominent factor in the decision to scrap. I show the strong effect that renewable energy policy plays in the decision to scrap a turbine. Through the use of both non-parametric and semi-parametric duration models and an instrumental variables approach I identify a strong effect for scrapping schemes put in place by the Danish government. I also obtain the, initially, counter-intuitive result that more effective wind turbines have a higher hazard of being scrapped.

Mauritzen, Johannes (2011)

Dead Battery? Wind Power, The Spot Market, and Hydro Power Interaction in the Nordic Electricity Market

[Report]. Norges Handelshøyskole. Institutt for foretaksøkonomi.

It is well established within both the economics and power system engineering literature that hydro power can act as a complement to large amounts of intermittent energy. In particular, hydro power can act as a "battery" where large amounts of wind power are installed. This paper attempts to extend that literature by describing the effects of cross-border wind and hydro power interaction in a day-ahead "spot" market. I use simple econometric distributed lag models with data from the Nordic electricity market and a sample of Norwegian hydro power plants with water storage magazines. I suggest that wind power mainly affects prices in the hydro power area by way of shifting the shadow value of water. The empirical results support this view.

Mauritzen, Johannes (2011)

Empirical Analysis of wind- and hydro-power interaction in the Nordic Market

[Academic lecture]. Instituttseminar.

Mauritzen, Johannes (2010)

Is the Answer Blowing in the Wind? An Empirical Analysis of Wind Power on Power Prices and Volatility in the Nordic Electricity Market

[Academic lecture]. Instituttseminar.

Mauritzen, Johannes (2010)

What happens when it's Windy in Denmark? An Empirical Analysis of Wind Power on Price Volatility in the Nordic Electricity Market

[Report]. Norges Handelshøyskole. Institutt for foretaksøkonomi.

This paper attempts to empirically test the effect that wind power production in Denmark has on volatility of the nordpool wholesale electricity prices. The main result is that wind power tends to significantly reduce intraday volatility but increases volatility over larger time windows. The negative elasticity for intraday volatility is likely due to a larger-in-magnitude price effect of wind power on peak hours then off-peak hours. I suggest that this in turn is due to a steeper supply schedule at peakloads. The positive elasticities in the wider time windows can be intuitively explained by the greater variability of the supply when large amounts of wind power are present. These finding have ramifications for investment in power generation, balancing as well as transmission capacity.

Academic Degrees
Year Academic Department Degree
2012 NHH Norwegian School of Economics Ph.D Dr. Oecon.
2008 University of Washington, Seattle Master of Arts
2004 St. Olaf College Bachelor of Arts
Work Experience
Year Employer Job Title
2016 - Present BI Norwegian Business School Associate professor
2016 - 2016 Department of Industrial Economics and Technology Management, Norwegian University of Science and Technology Post-doc
2013 - 2015 Center for Sustainable Energy Studies, NHH Norwegian School of Economics Post-doc
2007 - 2008 Center for Reinventing Public Education, University of Washington, Seattle, WA Graduate research assistant
2004 - 2006 Levy Forecasting Center, LLC, Mount Kisco, NY Research Analyst