Global S&T Development Trend Analysis Platform of Resources and Environment
Markets for low carbon, low cost electricity systems (working paper) | |
Brendan Pierpont and David Nelson | |
2017-11 | |
出版年 | 2017 |
语种 | 英语 |
国家 | 美国 |
领域 | 气候变化 |
英文摘要 |
Today we are publishing a working paper on the future design of the energy market as part of a program that follows on from analysis for the Energy Transitions Commission, and new concepts presented as part of Eurelectric’s Market Design 2050. In this paper, we highlight at least four major problems of incremental refinement to existing market models: • Under high penetrations of variable renewable energy, hourly prices based on marginal costs could drop to zero or below for extended periods of time, no longer sending meaningful signals for operations or investment. If this happens, the markets could threaten the financial viability of much of the generation business. We propose to achieve both goals by separating these two activities into their own markets: • An energy market will be a market for commodity electricity production, independent of time and location, that relies on auctions for long-term energy contracts to enable long-term low cost financing of low cost, capital intensive energy resources. While generators will be able to choose which market they wish to participate in, we believe that this market will attract mainly the low carbon, less flexible energy supply from renewable energy, nuclear, carbon capture equipped fossil fuels, and possibly combined heat and power. This market will set the notional wholesale price for electricity used in many system wide planning and investment decisions. • A delivery market will be a market for the delivery of energy when and where it is needed to meet demand and ensure reliability. This market would concentrate incentives for flexibility on is the participants that are best This concept is only a starting point. We believe it highlights the biggest challenges facing cost-effective decarbonization of the power sector, but further development is needed before this concept can be robustly applied to specific markets. We believe that new electricity market models can be a critical tool in enabling a cost-effective transition to a low carbon electricity system, spurring innovation in technology and market models that will lead to further improvement in costs, quality and the environmental performance of the future electricity system. |
英文关键词 | electricity electricity markets energy finance energy infrastructure energy transition EU energy policy EU Energy Union policymakers renewable energy utilities |
URL | 查看原文 |
来源平台 | Climate Policy Initiative |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/242516 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | Brendan Pierpont and David Nelson. Markets for low carbon, low cost electricity systems (working paper),2017. |
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文件名称/大小 | 文献类型 | 版本类型 | 开放类型 | 使用许可 | ||
CPI-Markets-for-low-(477KB) | 科技报告 | 开放获取 | CC BY-NC-SA | 浏览 下载 |
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