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DOI | 10.1016/j.enpol.2017.09.037 |
An analysis of a forward capacity market with long-term contracts | |
Bhagwat, Pradyumna C.1,2; Marcheselli, Anna1,3; Richstein, Joern C.1,4; Chappin, Emile J. L.1; De Vries, Laurens J.1 | |
2017-12-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2017 |
卷号 | 111 |
文章类型 | Article |
语种 | 英语 |
国家 | Netherlands; Italy; Germany |
英文摘要 | We analyze the effectiveness of a forward capacity market (FCM) with long-term contracts in an electricity market in the presence of a growing share of renewable energy. An agent-based model is used for this analysis. Capacity markets can compensate for the deteriorating incentive to invest in controllable power plants when the share of variable renewable energy sources grows, but may create volatile prices themselves. Capacity markets with long-term contracts have been developed, e.g. in the UK, to stabilize capacity prices. In our analysis, a FCM is effective in providing the required adequacy level and leads to lower cost to consumers and more stable capacity prices, as compared to a yearly capacity market. In case of a demand shock, a FCM may develop an investment cycle, but it still maintains security of supply. Its main effect on the power plant portfolio is more investment in peak plant. |
英文关键词 | Adequacy policy Agent-based modeling Capacity markets Capacity mechanisms Electricity market Security of supply |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000415779700027 |
WOS关键词 | RENEWABLE ENERGY-SOURCES ; HIGH PORTFOLIO SHARE ; POWER-SYSTEMS ; ELECTRICITY ; GENERATION ; MODEL ; MECHANISMS ; PENETRATION ; ENVIRONMENT ; TECHNOLOGY |
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/18916 |
专题 | 气候变化 |
作者单位 | 1.Delft Univ Technol, Fac Technol Policy & Management, Jaffalaan 5, NL-2628 BX Delft, Netherlands; 2.European Univ Inst, Florence Sch Regulat, RSCAS, Via Boccaccio 121, I-50133 Florence, Italy; 3.Politecn Milan, Fac Ingn Ind & Informaz, Via Raffaele Lambruschini 15, I-20156 Milan, Italy; 4.DIW Berlin, Mohrenstr 58, D-10117 Berlin, Germany |
推荐引用方式 GB/T 7714 | Bhagwat, Pradyumna C.,Marcheselli, Anna,Richstein, Joern C.,et al. An analysis of a forward capacity market with long-term contracts[J]. ENERGY POLICY,2017,111. |
APA | Bhagwat, Pradyumna C.,Marcheselli, Anna,Richstein, Joern C.,Chappin, Emile J. L.,&De Vries, Laurens J..(2017).An analysis of a forward capacity market with long-term contracts.ENERGY POLICY,111. |
MLA | Bhagwat, Pradyumna C.,et al."An analysis of a forward capacity market with long-term contracts".ENERGY POLICY 111(2017). |
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