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. Using a combined model for dispatch, transmission, and investment, three different investment options are considered …, including gas-fired power plants, pumped hydro storage, and transmission lines. We find that geographically optimized power …, storage and transmission requirements significantly increase. In an alternative scenario with larger investments into storage …
Persistent link: https://www.econbiz.de/10010400745
Ease of entry is crucial to well-functioning electricity markets. This paper investigates the patterns of entry in the generation segment of the electricity industry of OECD countries and seeks to provide an understanding of their key determinants. It aims to derive implications for the design...
Persistent link: https://www.econbiz.de/10011588355
With greater penetration of renewable generation, the uncertainty faced in electricity markets has increased substantially. Conventionally, generators are assigned a pre-dispatch quantity in advance of real time, based on estimates of uncertain quantities. Expensive real time adjustments then...
Persistent link: https://www.econbiz.de/10012983531
Persistent link: https://www.econbiz.de/10014513137
is developed, which allows for investments into wind power whileconsidering transmission grid constraints in detail …
Persistent link: https://www.econbiz.de/10012313530
As redispatch costs and their associated distributional impacts continue to rise, the discussion on reconfiguring bidding zones in European power markets persists. However, determining an appropriate bidding zone configuration is a non-trivial task, as it must prove beneficial under varying...
Persistent link: https://www.econbiz.de/10014485600
Increasing shares of wind and solar generation serve to decarbonize electricity generation; however, their temporal and spatial variability poses challenges in grid operation. While grid expansion is restricted in the medium term, storage technologies can potentially increase the power...
Persistent link: https://www.econbiz.de/10014247810
Increasing shares of intermittent renewable energies challenge the dominant way to trade electricity ex-ante in forward, day-ahead, and intraday markets: Coal power plants and consumers cannot react to the stochastic element of renewables, whereas gas turbines can. We use a theoretical model to...
Persistent link: https://www.econbiz.de/10012319319
We extend the theory of peak-load pricing by considering that the production with different technologies can be adjusted within their capacity at different speeds. In the established analysis, all production decisions can be made after the random variables realize. In our setting, in contrast,...
Persistent link: https://www.econbiz.de/10011881657
Control power (regulating power, balancing power) is used to quickly restore the supply-demand balance in power systems. Variable renewable energy sources (VRE) such as wind and solar power are often thought to increase the reserve requirement significantly. This paper provides a comprehensive...
Persistent link: https://www.econbiz.de/10009756296