Das Zeitdreieck Versorgungssicherheit, Wirtschaftlichkeit und Umweltschutz beschreibt grundlegende Ziele der Energiepolitik. Für die Wirtschaftlichkeit ist funktionierender Wettbewerb wesentlich, im Bereich der Netze ist jedoch staatliche Regulierung erforderlich. Im Hinblick auf Umweltschutz...

The stylized model presented in this paper extends the approach developed by Fischer and Newell (2008) by analysing the optimal policy design in a context with more than one externality while taking explicitly into account uncertainty surrounding future emission damage costs. In the presence of...

Integrating large quantities of supply-driven renewable electricity generation remains a political and operational challenge. One of the main obstacles in Europe to installing at least 200 GWs of power from variable renewable sources is how to deal with the insufficient network capacity and the...

In Germany and other Central and Northern European countries, energy demand for space heating dominates the energy demand of households. In line with European and national energy efficiency and emission reduction objectives, policy makers have identified the residential building sector...

There is an ongoing debate on the introduction of capacity markets in most European countries while a few of them have already established capacity markets. Since the implementation of independent national capacity markets is not in line with the target of a pan-European internal electricity...

We develop an analytical model to derive the competitive market equilibrium for electricity spot and reserve markets under stochastic demand and uncertain renewable electricity generation. We then derive the welfare-optimal provision of reserves. At first-best, cost of reserve capacity is...

There is a broad consensus that the energy transition planned in Europe, along with an increasing share of renewable energy sources, demands a sufficient number of flexibility providers. The established flexibility procurement mechanisms, notably the reserve markets, are expected to reflect the...

The analysis of future energy systems with increasing shares of renewable energy production poses various challenges to models used in the field of energy system analysis. Aggregation is one solution to reduce the computation time of large optimization problems, especially for optimization...

Optimal capacity allocation for investments in electricity generation assets can be deterministically derived by comparing technology specific long‐term and short‐term marginal costs. In an uncertain market environment, Mean‐Variance Portfolio (MVP) theory provides a consistent framework...

Natural gas storages may be valuated by applying real options theory. However it is crucial, not to ignore that most evolving gas spot markets, like the German spot market, lack of liquidity. In this context, considering storage operators as price takers does not account for interdependencies of...