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| 1 |
ID:
150905
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| Summary/Abstract |
Rising renewable shares influence electricity markets in several ways: among others, average market prices are reduced and price volatility increases. Therefore, the “missing money problem” in energy-only electricity markets is more likely to occur in systems with high renewable shares. Nevertheless, renewables are supported in many countries due to their expected benefits. The kind of support instrument can however influence the degree to which renewables influence the market. While fixed feed-in tariffs lead to higher market impacts, more market-oriented support schemes such as market premiums, quota systems and capacity-based payments decrease the extent to which markets are affected. This paper analyzes the market impacts of different support schemes. For this purpose, a new module is added to an existing bottom-up simulation model of the electricity market. In addition, different degrees of flexibility in the electricity system are considered. A case study for Germany is used to derive policy recommendations regarding the choice of support scheme.
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| 2 |
ID:
125512
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| Publication |
2013.
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| Summary/Abstract |
Integration of electricity markets started to spread under the world-wide trend to economic liberalization. While some regions are managing better than others, lessons, both political and technical, highlight challenges ahead that need to be overcome.
Since the early 2000s, Panama, Colombia, Ecuador, and Peru have decided to integrate their electricity markets, eventually creating an enormous Latin American electricity exchange, ranging from Mexico to Chile. This poses opportunities and threats to the region as it involves cooperation, trust, and the will to overcome difficulties that may arise. In this direction, we developed a system dynamics model, linked to an iterative algorithm, to assess the likely effects of integration on both system expansion and security of supply. The model helps us understand the logic of the long-term system behavior under different policies, assuming Market Coupling as the dispatch mechanism.
Based on theoretical grounds and after analyzing simulation results under different scenarios, we conclude that the integration of electricity markets may render important opportunities regarding security of supply and efficiency; and consequently energy might be supplied at lower prices, using "cleaner" technologies. However, benefits largely depend on policy, regulation, and technical issues.
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