Electricity Market Design For Long Term Capacity Adequacy In A Context Of Energy Transition
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Electricity Market Design For Long Term Capacity Adequacy In A Context Of Energy Transition
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Author : Ahmed Ousman Abani
language : en
Publisher:
Release Date : 2019
Electricity Market Design For Long Term Capacity Adequacy In A Context Of Energy Transition written by Ahmed Ousman Abani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Competitive Electricity Markets
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Author : Fereidoon Sioshansi
language : en
Publisher: Elsevier
Release Date : 2011-10-10
Competitive Electricity Markets written by Fereidoon Sioshansi and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-10 with Technology & Engineering categories.
After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms. Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change. Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006 Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues Covers timely topics on the evolution of electricity market liberalization worldwide
Long Term Capacity Adequacy In Electricity Markets
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Author : Mohamed Haikel Khalfallah
language : en
Publisher:
Release Date : 2010
Long Term Capacity Adequacy In Electricity Markets written by Mohamed Haikel Khalfallah and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
In this paper, we study the problem of long-term capacity adequacy in electricity markets. Two investment incentive mechanisms, Capacity obligations and Reliability contracts, are analyzed and compared to the benchmark design, the energy-only market. We use the dynamic programming method and real option theory to develop two dynamic models that enable one to assess the optimal market design for ensuring sufficient generation capacity to meet future demand at efficient cost (the deterministic model) and to analyze the optimal timing of investments when uncertainties in future load and fuel prices are considered (the stochastic model). The effects of different factors on investment strategies, such as the pricing of CO2 and differences between construction delays and cost structures of the new technologies, are also analyzed. The numerical results show that: (1) the reliability contract scheme would be the more cost-efficient mechanism, ensuring the long term system adequacy and encouraging earlier and adequate new investments in the system, compared to the capacity obligation method which would result in over-investment and price manipulations; (2) short lead time technology would be preferred with the capacity obligation design, while cost competitive technology would be chosen with the reliability contract scheme; (3) the pricing of CO2 and the taking into account of uncertainties would affect investment strategies but would have no impact on the effectiveness of the reliability contracts scheme.
International Trade In Sustainable Electricity
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Author : Thomas Cottier
language : en
Publisher: Cambridge University Press
Release Date : 2017-06
International Trade In Sustainable Electricity written by Thomas Cottier and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06 with Business & Economics categories.
This book explores the regulatory challenges posed by the changing landscape of electricity trade to the multilateral trading system.
Regional Electricity Market Design Regional Electricity Market Design
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Author : Lindboe, Hans Henrik
language : en
Publisher: Nordic Council of Ministers
Release Date : 2016-10-24
Regional Electricity Market Design Regional Electricity Market Design written by Lindboe, Hans Henrik and has been published by Nordic Council of Ministers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-24 with Science categories.
Do current electricity market designs ensure a sufficient electricity supply at all times? This topic is currently the subject of intense debate across Europe, and several major countries such as Germany, the UK, France and Italy have decided that additional measures – so-called capacity remuneration mechanisms - are needed to supplement current market designs. This report describes and analyses the advantages and disadvantages of a range of measures proposed or currently implemented across Europe, and includes both best estimates of how the implementation of these measures will impact Nordic electricity prices as well as recommendations to the Nordic countries regarding a cost-efficient path to ensuring the Nordic security of supply.
Capacity Mechanisms In Eu Energy Law
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Author : Kaisa Huhta
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2019-07-17
Capacity Mechanisms In Eu Energy Law written by Kaisa Huhta and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-17 with Law categories.
Many states – including European Union (EU) Member States – subsidise energy producers in order to guarantee the uninterrupted availability of affordable electricity. This book presents the first in-depth examination of how these so-called capacity mechanisms are addressed in EU law and how they affect the functioning of the EU energy markets. Focusing on the existing legal framework as well as the new provisions of the Clean Energy for All Europeans package for capacity mechanisms, the author addresses and analyses such aspects as the following: the structure and functioning of the EU electricity markets; EU’s competence to address security of supply and Member States’ margin of discretion; sector-specific rules for security of supply; legal conditions for subsidising generation adequacy; capacity remuneration under the EU State aid regime; free movement rules that address generation adequacy measures; balancing different interests of EU energy law in the context of generation adequacy; and the requirement of proportionality in State intervention to ensure generation adequacy. The analysis draws on relevant sources of EU law (treaties, regulations and directives) as well as the case law of the European Court of Justice and the General Court, together with soft law instruments such as Commission guidelines. Scholarly sources include not only legal literature but also work on energy policy, energy engineering and energy economics. As a detailed analysis of how capacity mechanisms address issues arising in the context of the enegy transition – and how the system of EU law applicable to capacity mechanisms should be interpreted to further the objectives of EU energy law – the book will help policymakers and legislators in Member States to understand the changing legal setting for capacity mechanisms. Lawyers, academics and other professionals who deal with EU electricity markets in the EU and beyond are sure to welcome its detailed description and analysis.
Generation Capacity And Long Term System Reliability Of Electricity Markets
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Author : Kilian Wagner
language : en
Publisher:
Release Date : 2009
Generation Capacity And Long Term System Reliability Of Electricity Markets written by Kilian Wagner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Im Mittelpunkt dieser Arbeit stehen die Problematik des Investments in Peak Generatoren. Verschiedene Adequacy designs wurden hierzu untersucht und verglichen. Im praktischen Teil der Arbeit stand El Salvador im Mittelpunkt der Analyse. Basierend auf der Theorie und den besonderen Marktbedingungen El Salvador's wurden Eckpfeiler eines angepassten Marktdesigns entwickelt mit dessen Hilfe die richtigen Anreize für Peak Investment gestützt werden sollen.
Spot Pricing Of Electricity
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Author : Fred C. Schweppe
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-07
Spot Pricing Of Electricity written by Fred C. Schweppe and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-07 with Business & Economics categories.
There is a need for fundamental changes in the ways society views electric energy. Electric energy must be treated as a commodity which can be bought, sold, and traded, taking into account its time-and space-varying values and costs. This book presents a complete framework for the establishment of such an energy marketplace. The framework is based on the use of spot prices. In general terms: o An hourly spot price (in dollars per kilowatt hour) reflects the operating and capital costs of generating, transmitting and distributing electric energy. It varies each hour and from place to place. o The spot price based energy marketplace involves a variety of utility-customer transactions (ranging from hourly varying prices to long-term, multiple-year contracts), all of which are based in a consistent manner on hourly spot prices. These transactions may include customers selling to, as well as buying from, the utility. The basic theory and practical implementation issues associated with a spot price based energy marketplace have been developed and discussed through a number of different reports, theses, and papers. Each addresses only a part of the total picture, and often with a somewhat different notation and terminology (which has evolved in parallel with our growing experience). This book was xvii xviii Preface written to serve as a single, integrated sourcebook on the theory and imple mentation of a spot price based energy marketplace.
Electricity Markets In Transition
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Author : Natalia Fabra
language : en
Publisher:
Release Date : 2022
Electricity Markets In Transition written by Natalia Fabra and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Electric utilities categories.
In the context of the debate about the reform of electricity markets in Europe, this document proposes a new electricity market architecture. It is based on two pillars: (i) a well-functioning short-run energy market; and (ii) a set of efficient and equitable long-run contracts, signed between firms and the regulator on behalf of all consumers. The design of long-term contracts takes into account the characteristics of the various technologies in order to strike the right balance between exposing them to the short-run price signals while de-risking the investments. The proposal would facilitate the achievement of carbon-free and diversified power markets, allowing for substantial reductions in the cost of electricity for consumers. The proposed design is mostly in line with the recent European Commission (2022b)’s proposal, and it further provides details on key elements that the European Commission has not yet specified.
Phased European Union Electricity Market Reform
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Author : Georg Zachmann
language : en
Publisher:
Release Date : 2023
Phased European Union Electricity Market Reform written by Georg Zachmann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
In an environment of record-breaking electricity prices driven by a gas supply shock and below-average electricity generation, reforming the design of the European electricity market is seen as a means to delink consumer costs from volatility in short-term power markets. Electricity markets should meet three objectives: fairness, optimal investment and optimal operation. The current market design has achieved these objectives to varying degrees. Faced with the unprecedented shock, the electricity system has operated well, but electricity markets have struggled to achieve fair outcomes and investments have not been driven by market-based cashflows. Further complicating market reform, the power system is being changed radically by decarbonisation. The electricity system is becoming more decentralised and digitalised, with an active demand side. These transformations will have consequences for the optimal electricity market design in the later stages of the energy transition. Reform proposals have focused on increasing the share of long-term contracts in the remuneration of generation technologies. Different long-term contracting regimes have structural implications for the functioning of electricity markets, especially in relation to the roles of the state and the market, and the responsibilities of national governments and European Union institutions. A phased approach should be taken to EU electricity market design reform. In the near-term, reform should seek to protect consumers and drive investment. An assessment should also be made of what market design will best meet the fairness, investment and operational objectives in a decarbonised system, and what the conceptual role of electricity markets should be during the transition. This process should start as soon as possible so well thought-through proposals are available when the next European Commission takes office.