| ID | 176665 |
| Title Proper | Reforming the colombian electricity market for an efficient integration of renewables |
| Other Title Information | a proposal |
| Language | ENG |
| Author | Batlle, Carlos ; Mastropietro, Paolo ; Rodilla, Pablo ; Rangel, Lina Escobar |
| Summary / Abstract (Note) | The Colombian short-term electricity market is characterised by a single settlement and by the clearing of a single national hourly spot price for the entire grid. This price is computed ex post, based on the real-time operation of the system. In the day ahead, there is only an operational dispatch, which does not set any binding economic commitment. A deviation from such dispatch (due, for instance, to an outage), if it is informed in advance, has no economic consequence for market agents. As recognised by Colombian regulatory institutions, this design is not suitable to efficiently integrate large shares of variable renewable resources. |
| `In' analytical Note | Energy Policy Vol.139; Apr 2020: p.111346 |
| Journal Source | Energy Policy 2020-04 139 |
| Key Words | Renewable integration ; Intraday Market ; Uniform Pricing ; Colombian Electricity Market ; Single Settlement ; Multi Settlement ; Binding Dispatch |