An analysis of a forward capacity market with long-term contracts

We analyze the effectiveness of a forward capacity market (FCM) with long-term contracts in an electricity market in the presence of a growing share of renewable energy. An agent-based model is used for this analysis. Capacity markets can compensate for the deteriorating incentive to invest in contr...

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Bibliographic Details
Published in:	Energy policy Vol. 111; pp. 255 - 267
Main Authors:	Bhagwat, Pradyumna C., Marcheselli, Anna, Richstein, Jörn C., Chappin, Emile J.L., De Vries, Laurens J.
Format:	Journal Article
Language:	English
Published:	Kidlington Elsevier Ltd 01-12-2017 Elsevier Science Ltd
Subjects:	Adequacy Adequacy policy Agent-based modeling Alternative energy sources Capacity markets Capacity mechanisms Consumers Contracts Effectiveness Electric power generation Electric power plants Electricity Electricity market Energy policy Energy sources Investment Investments Markets Power plants Prices Pricing Renewable energy Renewable energy sources Renewable resources Security Security of supply United Kingdom > UK Capacity markets Adequacy policy Agent-based modeling Capacity mechanisms Security of supply Electricity market
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