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A critical indicator for assessing the total integration of Renewable Energy Sources (RES) into society's energy environment is their effect on energy economics, particularly in the context of the Hellenic Energy Exchange. Through the use of correlation techniques, this research aims to capture the association between the Day-Ahead Market's (DAM) Market Clearing Price (MCP) with Cretan RES production, the rest of its market participants and other quantitative variables. The objective was accomplished with the use of data provided publicly by HEnEx and the application of advanced algorithms. More specifically, this paper evaluates the performance of Pearson, Spearman rank and Kendall Tau correlation coefficients. The obtained results show the effectiveness of the adopted methodologies, offering insights that are invaluable for policymakers, energy market participants, and stakeholders alike.

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Evaluation of Renewable Energy Sources on Energy Economics: A Correlation Analysis of Clearing Prices in the Hellenic Energy Exchange Market

  • 会议论文

  • 发表日期：

    2026年

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  • Emmanuel Karapidakis,
  • Yiannis Katsigiannis,
  • Konstantinos Blazakis,
  • Marios Nikologiannis,
  • Georgios Matalliotakis,
  • Georgios Stavrakakis,
  • Nikos Venianakis

摘要

A critical indicator for assessing the total integration of Renewable Energy Sources (RES) into society's energy environment is their effect on energy economics, particularly in the context of the Hellenic Energy Exchange. Through the use of correlation techniques, this research aims to capture the association between the Day-Ahead Market's (DAM) Market Clearing Price (MCP) with Cretan RES production, the rest of its market participants and other quantitative variables. The objective was accomplished with the use of data provided publicly by HEnEx and the application of advanced algorithms. More specifically, this paper evaluates the performance of Pearson, Spearman rank and Kendall Tau correlation coefficients. The obtained results show the effectiveness of the adopted methodologies, offering insights that are invaluable for policymakers, energy market participants, and stakeholders alike.