We present a novel method of determining the contribution of load-shifting Demand Response (DR) to energy and reserve markets. We model DR in an Mixed Complementarity Problem (MCP) framework with high levels of wind penetration. Investment, exit and operational decisions are optimised...

Due to the war in Ukraine, the European Commission has released its "Save Gas for a Safe Winter" plan, communicating the goal of reducing gas consumption in the electricity sector, among others. In this paper, the gas consumption in the electricity sector is picked up and the well-established...

Due to the war in Ukraine, the European Commission has released its “Save Gas for a Safe Winter” plan, communicating the goal of reducing gas consumption in the electricity sector, among others. In this paper, the gas consumption in the electricity sector is picked up and the...

Solar and wind power are now cheaper than fossil fuels but are intermittent. The extra supply-side variability implies growing benefits of using real-time retail pricing (RTP). We evaluate the potential gains of RTP using a model that jointly solves investment, supply, storage, and demand to...

The penetration of distributed generation, energy storages and smart loads has resulted in the emergence of prosumers: entities capable of adjusting their electricity production and consumption in order to meet environmental goals and to participate profitably in the available electricity...

The experience of liberalized electricity markets' ability to allocate scarce energy resources has been mixed. In this paper, we analyze how liberalized markets allocate power in the short and long run through the interaction between the spot and end-user markets. We show that totally inelastic...

Growth in energy demand together with the expansion of variable renewables has significant implications for the future electricity system. The increased volatility from growing intermittent production requires new sources of flexibility at a much greater scale to help maintain system balance. In...

Unless developing Asia decarbonizes its development, global warming is unlikely to stay below the internationally agreed limit of 2êC above preindustrial levels. Integrated assessment modeling offers insights into how a low carbon transition can be achieved. The Sixth Assessment Report of the...

This paper measures energy efficiency improvements of US single-family homes between 1997 and 2001 using a two-stage procedure. In the first stage, an indicator of energy efficiency is derived by means of Data Envelopment Analysis (DEA), and the analogy between the DEA estimator and traditional...

The objective of this paper is to combine a real options framework with portfolio optimization techniques and to apply this new framework to investments in the electricity sector. In particular, a real options model is used to assess the adoption decision of particular technologies under...