Can an energy only market enable resource adequacy in a decarbonized power system?: A co-simulation with two agent-based-models

Future power systems, in which generation will come almost entirely from variable Renewable Energy Sources (vRES), will be characterized by weather-driven supply and flexible demand. In a simulation of the future Dutch power system, we analyze whether there are sufficient incentives for market-driven investors to provide a sufficient level of...

Risk vs. restriction—An investigation of capacity-limitation based congestion management in electric distribution grids

Electrification of energy end-uses brings an increasing load on electric distribution grids with load peaks that can cause network congestion. However, many new end-uses like electric vehicles, heat pumps, and electrified industrial processes have some flexibility to move their power consumption away from peak times. Congestion management...

Electricity Markets for DC Distribution Systems: Locational Pricing Trumps Wholesale Pricing

DC distribution systems are a promising alternative to existing AC distribution systems. They connect customers to local energy sources without conversion, thus reducing power losses. However, the unique features of DC impose strict requirements for system operation compared to AC. Within the context of a liberalized energy market, this...

Electricity Markets for DC Distribution Systems: Design Options

DC distribution systems (DCDSs) are a promising alternative to AC systems because they remove AC-DC conversions between renewable sources and loads. Their unique features compared to AC include low system inertia, strict power limits and power–voltage coupling. In a liberalised electricity market, merely applying an AC market design to a DCDS...

Institutional challenges caused by the integration of renewable energy sources in the European electricity sector

The integration of large amounts of variable renewable energy poses fundamental challenges to the operation and governance of the energy system. In this article we address the main institutional challenges that are caused by the integration of variable renewable energy sources like solar and wind energy in the European power system. We first...