Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2016.12.032 |
Capacity adequacy in power markets facing energy transition: A comparison of scarcity pricing and capacity mechanism | |
Petitet, Marie1,2; Finon, Dominique2,3; Janssen, Tanguy1 | |
2017-04-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2017 |
卷号 | 103 |
文章类型 | Article |
语种 | 英语 |
国家 | France |
英文摘要 | This article analyses how a capacity mechanism can address security of supply objectives in a power market undergoing an energy transition that combines energy efficiency efforts to stabilise demand and a rapid increase in the proportion of renewables. To analyse this situation, power markets are simulated over the long term with a System Dynamics model integrating new investment and closure decisions. This last trait is relevant to studying investment in power generation in mature markets undergoing policy shocks. The energy-only market design with a price cap, with and without a capacity mechanism, is compared to scarcity pricing in two investment behaviour scenarios with and without risk aversion. The results show that the three market designs lead to different levels of risk for peaking unit investment and results thus differ according to which risk aversion hypothesis is adopted. Assuming a risk-neutral investor, the results indicate that compared to an energy-only market with a price cap at 3 000 sic/MWh, an energy-only market with scarcity pricing and the market design with a capacity mechanism are two efficient options to reach similar levels of load loss. But under the hypothesis of risk aversion, the results highlight the advantage of the capacity mechanism over scarcity pricing. |
英文关键词 | Capacity mechanism Security of supply Energy transition Mature market System dynamics |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000397356000003 |
WOS关键词 | COMPETITIVE ELECTRICITY MARKETS ; GENERATION ; RELIABILITY ; SIMULATION ; RISK |
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/19155 |
专题 | 气候变化 |
作者单位 | 1.RTE, Markets Dept, 1 Terasse Bellini,TSA 41000, F-92929 La Defense, France; 2.Univ Paris 09, Univ Paris Dauphine, Chairs European Elect Markets, Pl Marechal de Lattre de Tassigny, F-75775 Paris 16, France; 3.CIRED CNRS, 45 Bis Ave Belle Gabrielle, F-94736 Nogent Sur Marne, France |
推荐引用方式 GB/T 7714 | Petitet, Marie,Finon, Dominique,Janssen, Tanguy. Capacity adequacy in power markets facing energy transition: A comparison of scarcity pricing and capacity mechanism[J]. ENERGY POLICY,2017,103. |
APA | Petitet, Marie,Finon, Dominique,&Janssen, Tanguy.(2017).Capacity adequacy in power markets facing energy transition: A comparison of scarcity pricing and capacity mechanism.ENERGY POLICY,103. |
MLA | Petitet, Marie,et al."Capacity adequacy in power markets facing energy transition: A comparison of scarcity pricing and capacity mechanism".ENERGY POLICY 103(2017). |
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