The design of spot markets for generation services, such as energy, regulation, and
operating reserves, and longer term markets for capacity, remain in evolution in many …

In response to concerns that competitive electricity markets may be subject to the
development of an investment cycle, a number of adjustments to the market structure have …

In the energy trilemma of reliability, sustainability and affordability, politicians treat reliability
as over-riding. The EU assumes the energy-only Target Electricity Model will deliver …

Electricity capacity markets work in tandem with electricity energy markets to ensure that
investors build adequate capacity in line with consumer preferences for reliability. The need …

We derive the optimal prices and investment program for an electric power system when
there are price‐insensitive retail consumers served by load serving entities that can choose …

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 …

Capacity markets are a means to assure resource adequacy. The need for a capacity market
stems from several market failures the most prominent of which is the absence of a robust …

The 2013 Electricity Market Reform (EMR) was a response to the twin problems of securing
efficient finance for a new generation of low carbon investments, and delivering reliability …

An “energy only” market design could avoid the need for increasingly prescriptive
regulations targeted at ensuring resource adequacy. Transparent scarcity pricing would …

Energy-only electricity markets, such as the Electric Reliability Council of Texas (ERCOT),
rely on the decentralized investment decisions of market participants to lead to a resource …