Standard

The effectiveness of a strategic reserve in the presence of a high portfolio share of renewable energy sources. / Bhagwat, Pradyumna C.; Richstein, Jörn C.; Chappin, Emile J L; de Vries, Laurens J.

In: Utilities Policy: strategy, performance, regulation, Vol. 39, 01.04.2016, p. 13-28.

Research output: Contribution to journalArticleScientificpeer-review

Harvard

APA

Vancouver

Author

BibTeX

@article{87d25d1dccdf478fb664cb539da4f1d1,
title = "The effectiveness of a strategic reserve in the presence of a high portfolio share of renewable energy sources",
abstract = "To ensure sufficient investment in electricity generation capacity, mechanisms such as strategic reserves are being considered or already implemented. We analyze the effectiveness of a strategic reserve in the presence of a growing portfolio share of renewable energy sources (RES) with EMLab-Generation, an agent-based electricity market model. A strategic reserve can stabilize investment, but within limits. Uncertainty regarding future demand may cause the market to become instable, potentially leading to periods with very high electricity prices. In the presence of a large share of variable renewable energy sources, the reserve design should be adjusted or replaced by an alternative capacity mechanism.",
keywords = "Agent-based modeling, Capacity mechanisms, Strategic reserve",
author = "Bhagwat, {Pradyumna C.} and Richstein, {J{\"o}rn C.} and Chappin, {Emile J L} and {de Vries}, {Laurens J.}",
year = "2016",
month = "4",
day = "1",
doi = "10.1016/j.jup.2016.01.006",
language = "English",
volume = "39",
pages = "13--28",
journal = "Utilities Policy: strategy, performance, regulation",
issn = "0957-1787",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - The effectiveness of a strategic reserve in the presence of a high portfolio share of renewable energy sources

AU - Bhagwat, Pradyumna C.

AU - Richstein, Jörn C.

AU - Chappin, Emile J L

AU - de Vries, Laurens J.

PY - 2016/4/1

Y1 - 2016/4/1

N2 - To ensure sufficient investment in electricity generation capacity, mechanisms such as strategic reserves are being considered or already implemented. We analyze the effectiveness of a strategic reserve in the presence of a growing portfolio share of renewable energy sources (RES) with EMLab-Generation, an agent-based electricity market model. A strategic reserve can stabilize investment, but within limits. Uncertainty regarding future demand may cause the market to become instable, potentially leading to periods with very high electricity prices. In the presence of a large share of variable renewable energy sources, the reserve design should be adjusted or replaced by an alternative capacity mechanism.

AB - To ensure sufficient investment in electricity generation capacity, mechanisms such as strategic reserves are being considered or already implemented. We analyze the effectiveness of a strategic reserve in the presence of a growing portfolio share of renewable energy sources (RES) with EMLab-Generation, an agent-based electricity market model. A strategic reserve can stabilize investment, but within limits. Uncertainty regarding future demand may cause the market to become instable, potentially leading to periods with very high electricity prices. In the presence of a large share of variable renewable energy sources, the reserve design should be adjusted or replaced by an alternative capacity mechanism.

KW - Agent-based modeling

KW - Capacity mechanisms

KW - Strategic reserve

UR - http://resolver.tudelft.nl/uuid:87d25d1d-ccdf-478f-b664-cb539da4f1d1

UR - http://www.scopus.com/inward/record.url?scp=84956664343&partnerID=8YFLogxK

U2 - 10.1016/j.jup.2016.01.006

DO - 10.1016/j.jup.2016.01.006

M3 - Article

VL - 39

SP - 13

EP - 28

JO - Utilities Policy: strategy, performance, regulation

T2 - Utilities Policy: strategy, performance, regulation

JF - Utilities Policy: strategy, performance, regulation

SN - 0957-1787

ER -

ID: 5689399