March 2016
Intermediate to advanced
492 pages
16h 38m
English
Content preview from Future of Utilities - Utilities of the FutureBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Chapter 12
Decentralized Reliability Options: Market Based Capacity Arrangements
Stephen Woodhouse Pöyry Management Consulting, Oxford, UK
Abstract
In the European power markets with fast-growing wind and solar generation, there is a growing trend for national capacity remuneration schemes (CRMs). These risk undermining the integrated European electricity market. Reliability options (ROs) would be less distorting, but existing RO designs assume a single “spot” market, whereas European electricity markets have physical day-ahead, continuous intraday, and balancing markets. The author describes a novel decentralized RO model for use in European markets. The chapter concludes that decentralized ROs may be a more appropriate form of CRM for European ...
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