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DOI | 10.1016/j.enpol.2019.02.028 |
On the effects of capacity payments in competitive electricity markets: Capacity adequacy, price cap, and reliability | |
Milstein, Irena1; Tishler, Asher2 | |
2019-06-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 129页码:370-385 |
文章类型 | Article |
语种 | 英语 |
国家 | Israel |
英文摘要 | This paper employs a two-stage model to assess the consequences of an easy-to-use form of capacity payments in competitive electricity markets. We show that capacity payments increase capacity and expected consumer surplus, with little or no effect on expected social welfare (expected consumer surplus plus expected profits minus the cost of using capacity payments minus expected outage costs). In addition, we demonstrate that capacity payments can substantially reduce or, sometimes, fully eliminate electricity outage costs due to price capping or unexpected failure of some generation capacity. Thus, regulators should consider using this form of capacity payments since, in addition to their favorable effect on consumers and on social welfare, they mitigate the 'missing money' problem and increase system reliability. |
英文关键词 | Capacity payments Missing money Outage costs Electricity markets Endogenous capacity |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000468012900035 |
WOS关键词 | UNITED-STATES ; MECHANISMS ; DEMAND ; POWER ; ENERGY |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/183652 |
专题 | 气候变化 |
作者单位 | 1.Holon Inst Technol, 52 Golomb St, IL-58102 Holon, Israel; 2.Tel Aviv Univ, Coller Sch Management, IL-69978 Tel Aviv, Israel |
推荐引用方式 GB/T 7714 | Milstein, Irena,Tishler, Asher. On the effects of capacity payments in competitive electricity markets: Capacity adequacy, price cap, and reliability[J]. ENERGY POLICY,2019,129:370-385. |
APA | Milstein, Irena,&Tishler, Asher.(2019).On the effects of capacity payments in competitive electricity markets: Capacity adequacy, price cap, and reliability.ENERGY POLICY,129,370-385. |
MLA | Milstein, Irena,et al."On the effects of capacity payments in competitive electricity markets: Capacity adequacy, price cap, and reliability".ENERGY POLICY 129(2019):370-385. |
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