| ID | 101391 |
| Title Proper | Modeling generation expansion in the context of a security of supply mechanism based on long-term auctions. application to the Colombian case |
| Language | ENG |
| Author | Rodilla, P ; Batlle, C ; Salazar, J ; Sanchez, J J |
| Publication | 2011. |
| Summary / Abstract (Note) | In an attempt to provide electricity generation investors with appropriate economic incentives so as to maintain quality of supply at socially optimal levels, a growing number of electricity market regulators have opted for implementing a security of supply mechanism based on long-term auctions.
In this context, the ability to analyze long-term investment dynamics is a key issue not only for market agents, but also for regulators. This paper describes a model developed to serve this purpose. A general system-dynamics-inspired methodology has been designed to be able to simulate these long-term auction mechanisms in the formats presently in place. A full-scale simulation based on the Colombian system was conducted to illustrate model capabilities. |
| `In' analytical Note | Energy Policy Vol. 39, No. 1; Jan 2011: p.176-186 |
| Journal Source | Energy Policy Vol. 39, No. 1; Jan 2011: p.176-186 |
| Key Words | Security of Supply ; Long - Term Auctions ; Electricity Market Modeling |