naa a22 4500 510736009 CHVBK 20180411083010.0 cr unu---uuuuu 180411e20130701xx s 000 0 eng 10.1007/s11573-013-0660-x doi (NATIONALLICENCE)springer-10.1007/s11573-013-0660-x The combination of forecasts in the trading of electricity from renewable energy sources [Elektronische Daten] [Dietmar Graeber, Andreas Kleine] The legal support provided by the ‘Act on Granting Priority to Renewable Energy Sources' (German Erneuerbare Energien Gesetz, EEG) and its precursor has in the last 20years led to a marked growth in Germany in the use of renewable energies to generate electricity. As a result of the EEG amendment adopted in the summer of 2011 and in force since 1 January 2012, the market integration of electricity generated from renewable energy sources (RES-E) has become more important. Consequently, the economic importance of trading RES-E has also increased. A major role in determining costs in trading electricity from wind and solar energy on the wholesale markets plays the forecasting method used. If a forecast inaccurately predicts the amount of electricity actually generated, one result could be elevated costs in the trading process. In the beginning of this article we introduce the legal framework governing the trading of RES-E. Subsequently, we present a method for combining several individual forecasting methods. Finally, using empirical data, we show that in comparison to the best available individual forecast, the proposed combined forecast results in a clear improvement of forecasting quality as well as in a reduction in trading costs. Springer-Verlag Berlin Heidelberg, 2013 Renewable energy sources nationallicence Combination of forecasts nationallicence Electricity markets nationallicence Power exchange trading nationallicence Graeber Dietmar Universität Hohenheim, Institut für Interorganisational Management and Performance (580 B), 70593, Stuttgart, Germany aut Kleine Andreas FernUniversität in Hagen, Lehrstuhl für Betriebswirtschaftslehre, insb. Quantitative Methoden und Wirtschaftsmathematik, Postfach 940, 58084, Hagen, Germany aut Journal of Business Economics Springer-Verlag 83/5(2013-07-01), 409-435 0044-2372 83:5<409 2013 83 11573 https://doi.org/10.1007/s11573-013-0660-x text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11573-013-0660-x text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Graeber Dietmar Universität Hohenheim, Institut für Interorganisational Management and Performance (580 B), 70593, Stuttgart, Germany aut NATIONALLICENCE 700 1- Kleine Andreas FernUniversität in Hagen, Lehrstuhl für Betriebswirtschaftslehre, insb. Quantitative Methoden und Wirtschaftsmathematik, Postfach 940, 58084, Hagen, Germany aut NATIONALLICENCE 773 0- Journal of Business Economics Springer-Verlag 83/5(2013-07-01), 409-435 0044-2372 83:5<409 2013 83 11573 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer