On the long-term merit order effect of renewable energies
The merit order effect describes the lowering of the average wholesale electricity price due
to increased capacity of renewable energies. This effect has been observed in many places …
to increased capacity of renewable energies. This effect has been observed in many places …
[HTML][HTML] A survey on electricity market design: Insights from theory and real-world implementations of capacity remuneration mechanisms
In recent years, electricity markets have been characterized by a growing share of fluctuating
renewable energies, which has increased concerns about the security of electricity supply …
renewable energies, which has increased concerns about the security of electricity supply …
[HTML][HTML] Transmission and generation investment in electricity markets: The effects of market splitting and network fee regimes
We propose an equilibrium model that allows to analyze the long-run impact of the electricity
market design on transmission line expansion by the regulator and investment in generation …
market design on transmission line expansion by the regulator and investment in generation …
Endogenous price zones and investment incentives in electricity markets: An application of multilevel optimization with graph partitioning
In the course of the energy transition, load and supply centers are growing apart in electricity
markets worldwide, rendering regional price signals even more important to provide …
markets worldwide, rendering regional price signals even more important to provide …
A multilevel model of the European entry-exit gas market
In entry-exit gas markets as they are currently implemented in Europe, network constraints
do not affect market interaction beyond the technical capacities determined by the TSO that …
do not affect market interaction beyond the technical capacities determined by the TSO that …
Optimal capacity mechanisms for competitive electricity markets
Capacity mechanisms are increasingly used in electricity market design around the world
yet their role remains hotly debated. This paper introduces a new benchmark model of a …
yet their role remains hotly debated. This paper introduces a new benchmark model of a …
Investment incentives and electricity spot market competition
In this paper we analyze investment decisions of strategic firms that anticipate competition
on many consecutive spot markets with fluctuating (and possibly uncertain) demand. We …
on many consecutive spot markets with fluctuating (and possibly uncertain) demand. We …
Uniqueness of market equilibrium on a network: A peak-load pricing approach
In this paper we establish conditions under which uniqueness of market equilibrium is
obtained in a setup where prior to trading of electricity, transmission capacities between …
obtained in a setup where prior to trading of electricity, transmission capacities between …
The impact of neighboring markets on renewable locations, transmission expansion, and generation investment
Many long-term investment planning models for liberalized electricity markets either
optimize for the entire electricity system or focus on confined jurisdictions, abstracting from …
optimize for the entire electricity system or focus on confined jurisdictions, abstracting from …
Identifying optimal capacity expansion and differentiated capacity payments under risk aversion and market power: A financial Stackelberg game approach
We investigate how capacity payments in combination with scarcity pricing of energy can
ensure resource adequacy in electricity markets, defined as the ability of supply and other …
ensure resource adequacy in electricity markets, defined as the ability of supply and other …