Long‐term energy contracts have featured prominently in many decisions of the European Commission to support the opening of the electricity markets. Contracts were seen to foreclose the market hence the Commission comprehensively unwound pre‐existing long‐term contracts and formulated...

Decarbonization goals of the European Commission foresee different future scenarios for the European power market of which all are exceeding 60% renewables in the power system.3 High shares of intermittent renewable sources require significant changes to the physical system and impact the...

Gas‐fired power plants constitute a direct and important link between the gas and the electricity sectors and thus between the Target Models for electricity and gas. As the need for a flexible operation of gas-fired power plants will increase in tomorrow’s low‐carbon power markets, so also...

Current EU short-term market designs for electricity face several challenges in (i) securing efficient system operation (ii) unlocking the full potential of flexible resources and (iii) fostering effective use of transmission capacity. For a gradual reform of market design and to guarantee...

This paper evaluates the impact of intermittent wind generation on hourly equilibrium prices and output, using data on expected wind generation capacity and demand for 2020. Hourly wind data for the period 1994-2005 are used to obtain wind output generation profiles for thirty regions (onshore...

The incentives electricity generators face in investment and output decisions hinge on market design. Under zonal market designs, where profit-maximizing participants face a uniform regional price, achieving lowest-cost system-wide production can be impossible. Further, zonal designs can...

This Article discusses current challenges to siting new electric transmission infrastructure to facilitate the growth of renewable energy. In doing so, this Article focuses on recent legal and policy developments at the federal, state, and regional levels with a specific emphasis on states with...

The European Directive on common rules for the internal market in electricity (2009/72/EC) requires all member states to 'ensure the implementation of intelligent metering systems' in order to foster a more active involvement of customers in the electricity market. Such intelligent metering...

Physical laws mean that it is generally impossible to identify which power stations are exporting to another country, but economic logic offers strong clues. On windy days, Denmark tends to export electricity to its neighbours, and to import power on calm days. Storing electricity in this way...

In the United States, renewable portfolio standards (“RPSs”) dominate as the renewable energy policy tool of choice. Feed-in tariffs (“FITs”), common in Europe and other parts of the world, thus have come to be seen by many policymakers as a binary alternative -- to promote renewable...