Climate Change Data Portal
| DOI | 10.1016/j.enpol.2020.112010 |
| Missing incentives for flexibility in wholesale electricity markets | |
| Mays J. | |
| 发表日期 | 2021 |
| ISSN | 03014215 |
| 卷号 | 149 |
| 英文摘要 | In most liberalized electricity markets, flaws in short-term price formation have led to a “missing money” problem wherein average energy prices are too low to support an efficient level of capacity. Recent growth of wind and solar generation has exposed another category of flaws related to intertemporal constraints, such that energy prices are not volatile enough to support an efficient level of flexibility. In theory, electricity markets convey the value of flexibility through time-varying prices, encouraging market participants to invest in resources able to match production and consumption profiles to grid needs. Real-world market clearing procedures, however, make several simplifications that suppress volatility relative to the theoretical ideal. This paper describes five mechanisms by which current wholesale electricity market price formation may fail to provide full-strength incentives for flexible resources. Instead of restoring price volatility, market designers may choose to define flexibility products that act as a proxy for full-strength prices. However, these products cannot replicate theoretically ideal incentives precisely, with potentially important consequences for small-scale and distributed resources. The analysis could help guide ongoing efforts to ensure that systems have the capability to respond to growing variability and uncertainty in an efficient way. © 2020 Elsevier Ltd |
| 关键词 | Electricity marketsFlexibilityPrice formationResource adequacy |
| 英文关键词 | Costs; International trade; Power markets; Solar power generation; Uncertainty analysis; Distributed resources; Flexible resources; Intertemporal constraints; Liberalized electricity market; Market participants; Price volatility; Production and consumption; Wholesale electricity markets; Investments; alternative energy; electricity supply; energy market; energy use; incentive; pricing policy |
| 语种 | 英语 |
| 来源期刊 | Energy Policy
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/205251 |
| 作者单位 | School of Civil and Environmental Engineering, Cornell University, Ithaca, NY 14850, United States |
| 推荐引用方式 GB/T 7714 | Mays J.. Missing incentives for flexibility in wholesale electricity markets[J],2021,149. |
| APA | Mays J..(2021).Missing incentives for flexibility in wholesale electricity markets.Energy Policy,149. |
| MLA | Mays J.."Missing incentives for flexibility in wholesale electricity markets".Energy Policy 149(2021). |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Mays J.]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Mays J.]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Mays J.]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
