Assessing the Impact of Exceptional Drought on Emissions and Electricity Generation: The Case of Texas
利用2010-2017年德克萨斯州电力市场数据，研究发现极端干旱导致水冷发电机组提价、干冷机组增供，进而使低排放机组被优先调度，为政策制定者提供参考。
During the 2011 drought, Texas electricity prices rose as generators with water-intensive cooling technologies cut back production. We investigate the effect of exceptional drought on electricity supply and emissions using a fixed-effects model on intra-hourly ERCOT data from 2010 to 2017. We find that the effect of exceptional drought on electricity supply varies with the cooling technology type used by the generator. Generators with water-intensive cooling technologies respond to exceptional drought conditions by raising their average offer prices. However, generators that use dry cooling technologies do not raise offer prices but do increase the total quantity offer during exceptional drought periods. These changes in offer prices lead to lower emissions plants being dispatched during exceptional drought in ERCOT. Given that exceptional drought intensity and duration are forecasted to increase over the coming decades, our findings provide valuable insights for state policymakers seeking to regulate the electricity market in our study area.