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Capacity and Energy-Only Markets Under High Renewable Penetration.
- Source :
-
IEEE Transactions on Power Systems . May2016, Vol. 31 Issue 3, p1692-1702. 11p. - Publication Year :
- 2016
-
Abstract
- This paper presents a multi-nodal intertemporal Cournot gaming model with transmission constraints and uses it to simulate energy-only and capacity-energy market designs in the presence of uncertainties stemming from intermittent renewable power generation. Both market paradigms are compared to a competitive benchmark in order to determine which one performs better in a concentrated market with significant penetration of wind and solar generation. As a specific example, the model is applied to the South Australian zone of the Australian National Electricity Market (NEM). The simulation results for the time interval 2013–2030 show that the capacity-energy market has the potential to induce significant new capacity and push prices much closer to the competitive level in contrast to the current energy-only market design. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 08858950
- Volume :
- 31
- Issue :
- 3
- Database :
- Academic Search Index
- Journal :
- IEEE Transactions on Power Systems
- Publication Type :
- Academic Journal
- Accession number :
- 114706815
- Full Text :
- https://doi.org/10.1109/TPWRS.2015.2461675