Electricity markets are increasingly influenced by variable renewable energy such as wind and solar power with a pronounced weather-induced variability and imperfect predictability. As a result, the evaluation of the capacity value of variable renewable energy, i.e. its contribution to security...

Based upon probabilistic reliability metrics, we develop an optimization model to determine the efficient amount and location of firm generation capacity to achieve reliability targets in multiregional electricity systems. A particular focus lies on the representation and contribution of...

In this paper we propose an equilibrium model in order to analyze the impact of electricity market design on generation and transmission expansion in liberalized electricity markets. In a multi-level structure, our framework takes into account that generation investment and operation is decided...

In the last decade a new regulatory framework for electric utilities, aiming at a gradual liberalization of the sector, has been set in Europe. The promotion of competition among generators implies the need to separate power generation from downstream transmission and distribution activities....

Power systems networks are traditionally structured and engineered to effectively accommodate the effects of uncertainty and variability as regards energy demand and availability of resources. In order to transform the present carbon-intensive electricity generation system to one driven largely...