Replication package for "Heterogeneous price effects of renewable energy generation across European electricity markets"

The paper examines whether renewable electricity generation is associated with lower wholesale electricity prices across a panel of 28 European countries observed annually from 2015 to 2024 (270 country-year observations). It applies a battery of nine dynamic panel estimators, eight published benchmarks and one proposed extension (GMM-CCE-IV, which combines cross-sectional averaging with generalised method of moments instrumentation), to address two identification concerns that standard dynamic panel methods do not handle well in this setting: price persistence and cross-sectional dependence. The paper also documents regional heterogeneity in the renewable-price relationship and tests whether the effect is moderated by economic and geopolitical uncertainty.