The German response to the Fukushima nuclear power plant incident was possibly the most significant change of policy towards nuclear power outside Japan, leading to a sudden and very significant shift in the underlying power generation structure in Germany. This provides a very useful natural experiment on the impact of changing proportions of conventional fuel inputs to power production, helping us to seehow changed proportions in future as a result of policy movesare likely to impact. We find through use of a conventionaldemand- supply framework that despite the swift, significantchange, the main impact was a relatively modest increase inprices occasioned by a shift of the supply curve; there were noappreciable quantity effects on the market, such as poweroutages, despite some views that the impacts would besignificant.
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