Electricity industry restructuring should not sacrifice supply security to pursue economic efficiency. Till now there is no academic consensus on which electricity market design provides the least distorting investmen...Electricity industry restructuring should not sacrifice supply security to pursue economic efficiency. Till now there is no academic consensus on which electricity market design provides the least distorting investment incentives. Alternative approaches that have been adopted around the world for ensuring the appropriate level of investment in electric generation capacity are discussed, and much attention is devoted on the evaluation of capacity payment systems. The finding is that on one hand, capacity payment systems have good effect on reducing spot market price volatility and increasing the volume of generating capacity at the costs of relatively high total electricity prices; on the other hand, however, they are not robust against either the abuse of market power in the energy market or being manipulated.展开更多
Accomodation of power system constraints with the market mechanism is encountered as a major challenge along the way toward implementation of different electricity market designs. Allocation of fixe or flow-dependent ...Accomodation of power system constraints with the market mechanism is encountered as a major challenge along the way toward implementation of different electricity market designs. Allocation of fixe or flow-dependent inter-zone trading capacities by the PX （power exchange） can not be accepted unreservedly. The paper is meant to show that a nodal electricity market design that is based on bids for local energy and a regulated transmission access including allocation of ＂entry-exit＂ transmission capacity would be the desired solution. The market players could easily optimize their portfolio while the TSOs （transmission system operators） are requested to mobilize the network＇s in-built flexibility to increase the cross zonal capacity. In the proposed market design, the PX＇s allocation of trading capacity is clearly separate from the TSO＇s management of the power system operational constraint5. Clear operator roles would enlarge access to electricity market as well as market integration of variable RESs （renewable energy sources） that are critically dependent on short notice access to regionat markets,展开更多
文摘Electricity industry restructuring should not sacrifice supply security to pursue economic efficiency. Till now there is no academic consensus on which electricity market design provides the least distorting investment incentives. Alternative approaches that have been adopted around the world for ensuring the appropriate level of investment in electric generation capacity are discussed, and much attention is devoted on the evaluation of capacity payment systems. The finding is that on one hand, capacity payment systems have good effect on reducing spot market price volatility and increasing the volume of generating capacity at the costs of relatively high total electricity prices; on the other hand, however, they are not robust against either the abuse of market power in the energy market or being manipulated.
文摘Accomodation of power system constraints with the market mechanism is encountered as a major challenge along the way toward implementation of different electricity market designs. Allocation of fixe or flow-dependent inter-zone trading capacities by the PX （power exchange） can not be accepted unreservedly. The paper is meant to show that a nodal electricity market design that is based on bids for local energy and a regulated transmission access including allocation of ＂entry-exit＂ transmission capacity would be the desired solution. The market players could easily optimize their portfolio while the TSOs （transmission system operators） are requested to mobilize the network＇s in-built flexibility to increase the cross zonal capacity. In the proposed market design, the PX＇s allocation of trading capacity is clearly separate from the TSO＇s management of the power system operational constraint5. Clear operator roles would enlarge access to electricity market as well as market integration of variable RESs （renewable energy sources） that are critically dependent on short notice access to regionat markets,
