CEU Electronic Theses and Dissertations, 2022
| Author | Moldabekov, Yerkanat |
|---|---|
| Title | Renewable Energy Auctions in Kazakhstan: Design Elements and Attractiveness |
| Summary | The thesis is focused on analyzing renewable energy auctions held in Kazakhstan. More specifically, on their role in the energy policy of the country and the attractiveness of specific design elements for project developers. Since Kazakhstan introduced the renewable energy law in 2009, the country changed the support scheme several times. In 2013 feed-in tariffs were introduced, while in 2016 their annual indexation was allowed. Realizing that overinvesting can take place, the country switched support scheme to auctions in 2017 and held the first round of auctions a year later. Auctions provide the government with more control over the volume amounts, project location and renewable energy type choice. The project developer who suggests the lowest price for the energy produced gets the project, which results in lower investments driven by targeted optimization. The research question is whether this switch was justified and if so, to what extent are the auctions attractive and driving competition among the project developers. Four years of auctions provided insights about the attractiveness of the design element given the volume demanded by the potential project developers and the degree of price reduction driven by the bidders. The auction format and design elements were evaluated in comparison to the alternatives in other countries. The auction results were analyzed in accordance with the degree of price reduction and the mismatch between the supply and demand. The prices were reduced in each renewable energy type, except for bio power plant projects, but the main reduction is seen in the first auction and then price is similar in consecutive auctions. Higher volume demand was evident in some types of renewables, so it is recommended to use multi-criteria volume selection method. Specific suggestions were also made in terms of the design improvement for providing better pre-conditions that should attract more participants and possibly result in even lower bids. The analysis and suggestions were made in attempt to assist in reaching the renewable energy targets of 50% by 2050 stated in the national documents. |
| Supervisor | Lychagin, Sergei; Schaffartzik, Anke |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2022/moldabekov_yerkanat.pdf |
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