气候变化领域集成服务门户(CCPortal): Asymmetric risk and fuel neutrality in electricity capacity markets

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DOI	10.1038/s41560-019-0476-1
	Asymmetric risk and fuel neutrality in electricity capacity markets
	Mays J.; Morton D.P.; O’Neill R.P.
发表日期	2019
ISSN	20587546
起始页码	948
结束页码	956
卷号	4 期号:11
英文摘要	In many liberalized electricity markets, power generators can receive payments for maintaining capacity through capacity markets. These payments help stabilize generator revenues, making investment in capacity more attractive for risk-averse investors when other outlets for risk trading are limited. Here we develop a heuristic algorithm to solve large-scale stochastic equilibrium models describing a competitive market with incomplete risk trading. Introduction of a capacity mechanism has an asymmetric effect on the risk profile of different generation technologies, tilting the resource mix towards those with lower fixed costs and higher operating costs. One implication of this result is that current market structures may be ill-suited to financing low-carbon resources, the most scalable of which have high fixed costs and near-zero operating costs. Development of new risk trading mechanisms to replace or complement current capacity obligations could lead to more efficient outcomes., The Author(s), under exclusive licence to Springer Nature Limited.
scopus关键词	Cost accounting; Electric generators; Heuristic algorithms; Investments; Operating costs; Stochastic models; Stochastic systems; Asymmetric effects; Competitive markets; Current capacity; Generation technologies; Liberalized electricity market; Market structures; Stochastic equilibrium; Trading mechanism; Commerce; cost analysis; electricity; electricity generation; energy market; fuel; market conditions; resource use; risk assessment
来源期刊	Nature Energy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/176161
作者单位	Department of Industrial Engineering and Management Sciences, Northwestern University, Evanston, IL, United States; Federal Energy Regulatory Commission, Washington, DC, United States
推荐引用方式 GB/T 7714	Mays J.,Morton D.P.,O’Neill R.P.. Asymmetric risk and fuel neutrality in electricity capacity markets[J],2019,4(11).
APA	Mays J.,Morton D.P.,&O’Neill R.P..(2019).Asymmetric risk and fuel neutrality in electricity capacity markets.Nature Energy,4(11).
MLA	Mays J.,et al."Asymmetric risk and fuel neutrality in electricity capacity markets".Nature Energy 4.11(2019).