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Bhagwat, P.C. (author), Marcheselli, A. (author), Richstein, J.C. (author), Chappin, E.J.L. (author), de Vries, Laurens (author)
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 controllable power plants when the share of...
journal article 2017
document
Chappin, E.J.L. (author), de Vries, Laurens (author), Richstein, J.C. (author), Bhagwat, P.C. (author), Iychettira, K.K. (author), Khan, A.S.M. (author)
We present an approach to simulate climate and energy policy for the EU, using a flexible and modular agent-based modelling approach and a toolbox, called the Energy Modelling Laboratory (EMLab). The paper shortly reviews core challenges and approaches for modelling climate and energy policy in light of the energy transition. Afterwards, we...
journal article 2017
document
Bhagwat, P.C. (author), Richstein, J.C. (author), Chappin, E.J.L. (author), Iychettira, K.K. (author), de Vries, Laurens (author)
The cross-border effects of a capacity market and a strategic reserve in interconnected electricity markets are modeled using an agent-based modeling methodology. Both capacity mechanisms improve the security of supply and reduce consumer costs. Our results indicate that interconnections do not affect the effectiveness of a capacity market,...
journal article 2017
document
Bhagwat, P.C. (author), Iychettira, K.K. (author), Richstein, J.C. (author), Chappin, E.J.L. (author), de Vries, Laurens (author)
The effectiveness of a capacity market is analyzed by simulating three conditions that may cause suboptimal investment in the electricity generation: imperfect information and uncertainty; declining demand shocks resulting in load loss; and a growing share of renewable energy sources in the generation portfolio. Implementation of a capacity...
journal article 2017
document
Bhagwat, P.C. (author), Richstein, J.C. (author), Chappin, E.J.L. (author), de Vries, Laurens (author)
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...
journal article 2016
document
Bhagwat, P.C. (author), Iychettira, K.K. (author), de Vries, Laurens (author)
conference paper 2013
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