Market Designs for High Levels of Variable Generation: Preprint

Michael Milligan; Hannele Holttinen; Juha Kiviluoma; Antje Orths; Muireann Lynch; Lennart Söder

Market Designs for High Levels of Variable Generation: Preprint

Michael Milligan, Hannele Holttinen, Juha Kiviluoma, Antje Orths, Muireann Lynch, Lennart Söder

Power Systems Engineering

Research output: Contribution to conference › Paper

Abstract

Variable renewable generation is increasing in penetration in modern power systems, leading to higher variability in the supply and price of electricity as well as lower average spot prices. This raises new challenges, particularly in ensuring sufficient capacity and flexibility from conventional technologies. Because the fixed costs and lifetimes of electricity generation investments aresignificant, designing markets and regulations that ensure the efficient integration of renewable generation is a significant challenge. This papers reviews the state of play of market designs for high levels of variable generation in the United States and Europe and considers new developments in both regions.

Original language	American English
Number of pages	8
State	Published - 2014
Event	IEEE Power and Energy Society General Meeting - National Harbor, Maryland Duration: 27 Jul 2014 → 31 Jul 2014

Conference

Conference	IEEE Power and Energy Society General Meeting
City	National Harbor, Maryland
Period	27/07/14 → 31/07/14

NREL Publication Number

NREL/CP-5D00-62280

Keywords

adequacy
capacity
National Renewable Energy Laboratory (NREL)
NREL
power markets
wind energy

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

https://www.nrel.gov/docs/fy15osti/62280.pdf

Cite this

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title = "Market Designs for High Levels of Variable Generation: Preprint",

abstract = "Variable renewable generation is increasing in penetration in modern power systems, leading to higher variability in the supply and price of electricity as well as lower average spot prices. This raises new challenges, particularly in ensuring sufficient capacity and flexibility from conventional technologies. Because the fixed costs and lifetimes of electricity generation investments aresignificant, designing markets and regulations that ensure the efficient integration of renewable generation is a significant challenge. This papers reviews the state of play of market designs for high levels of variable generation in the United States and Europe and considers new developments in both regions.",

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year = "2014",

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note = "IEEE Power and Energy Society General Meeting ; Conference date: 27-07-2014 Through 31-07-2014",

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TY - CONF

T1 - Market Designs for High Levels of Variable Generation: Preprint

AU - Milligan, Michael

AU - Holttinen, Hannele

AU - Kiviluoma, Juha

AU - Orths, Antje

AU - Lynch, Muireann

AU - Söder, Lennart

PY - 2014

Y1 - 2014

N2 - Variable renewable generation is increasing in penetration in modern power systems, leading to higher variability in the supply and price of electricity as well as lower average spot prices. This raises new challenges, particularly in ensuring sufficient capacity and flexibility from conventional technologies. Because the fixed costs and lifetimes of electricity generation investments aresignificant, designing markets and regulations that ensure the efficient integration of renewable generation is a significant challenge. This papers reviews the state of play of market designs for high levels of variable generation in the United States and Europe and considers new developments in both regions.

AB - Variable renewable generation is increasing in penetration in modern power systems, leading to higher variability in the supply and price of electricity as well as lower average spot prices. This raises new challenges, particularly in ensuring sufficient capacity and flexibility from conventional technologies. Because the fixed costs and lifetimes of electricity generation investments aresignificant, designing markets and regulations that ensure the efficient integration of renewable generation is a significant challenge. This papers reviews the state of play of market designs for high levels of variable generation in the United States and Europe and considers new developments in both regions.

KW - adequacy

KW - capacity

KW - National Renewable Energy Laboratory (NREL)

KW - NREL

KW - power markets

KW - wind energy

M3 - Paper

T2 - IEEE Power and Energy Society General Meeting

Y2 - 27 July 2014 through 31 July 2014

ER -

Market Designs for High Levels of Variable Generation: Preprint

Abstract

Conference

NREL Publication Number

Keywords

UN SDGs

Access to Document

Fingerprint

Cite this