To ensure security of supply in liberalized electricity markets, different types of capacity mechanisms are currently being debated or have recently been implemented in many European countries. The purpose of this study is to analyze the cross-border effects resulting from different choices on...

This paper describes and analyzes the Greek Capacity Market or, as named, the “Capacity Adequacy Mechanism”. A detailed description of the recently established mechanism is given, whose design is a hybrid model combining elements from three different designs: the US Capacity Markets, the...

This paper argues against the rapid implementation of capacity mechanisms in Germany. There is no systematic, non-temporary market failure in the German wholesale electricity market which could justify such a Government intervention. Neither the low elasticity of demand nor debatable public good...

The current political debate on the Energiewende in Germany is no longer focused on economic and ecological aspects. Instead, concerns regarding security of supply become more and more relevant. Though current risks for security of supply are mainly driven by the situation in transmission...

Due to the specifics of the product electricity and electricity markets, there are considerable doubts whether „energy-only-electricity-markets“ can guarantee a desired level of security of energy supply. If in peak load periods, the price inelastic demand exceeds the supply, there will be...

Liberalized electricity markets are characterized by fluctuating price-inelastic demand of non-storable electricity, often defined by a substantial market share held by one or few incumbent firms. These characteristics have led to a controversial discussion concerning the need for and the design...

The revised edition of this book captures new developments in economics and finance. Turning its focus towards the application of Engle's (1982) autoregressive conditional heteroscedasticity (ARCH) in cutting-edge research and a discussion of whether energy prices reflect long memory, this book...

This article analyses the flexibility of the German power market with respect to the integration of an increasing share of electricity from renewable energy sources. Flexibility limiting system components, which cause negative prices are explained and illustrated for the German market. Then, the...

This short review will provide an analysis of the key challenges faced by electricity markets and their participants in increasing the penetration of large scale renewables. This review will assess the key barriers purely from an economic perspective. The global of deployment of large scale...

This report’s primary aim is to provide yield projections for the proposed Linear Fresnel Reflector (LFR) technology plant at Collinsville, Queensland, Australia. However, the techniques developed in this report to overcome inadequate datasets at Collinsville to produce the yield projections...