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A survey on electricity market design: Insights from theory and real-world implementations of capacity remuneration mechanisms

Bublitz, Andreas; Keles, Dogan; Zimmermann, Florian; Fraunholz, Christoph; Fichtner, Wolf

Abstract (englisch):
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. As a consequence, existing market designs are adapted, and new capacity remuneration mechanisms are introduced. However, these mechanisms entail new challenges, and it is disputed whether they are indeed needed. In this article, an overview of the current debate on the necessity of capacity remuneration mechanisms is provided. Furthermore, initial experiences of real-world implementations are discussed, and common findings in the literature, categorized by their economic implications, are derived. Finally, shortcomings in existing research and open questions that need to be addressed in future works are pointed out.

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Originalveröffentlichung
DOI: 10.1016/j.eneco.2019.01.030
Zugehörige Institution(en) am KIT Institut für Industriebetriebslehre und Industrielle Produktion (IIP)
Publikationstyp Zeitschriftenaufsatz
Jahr 2019
Sprache Englisch
Identifikator ISSN: 0140-9883
KITopen-ID: 1000091835
Erschienen in Energy economics
Band 80
Seiten 1059-1078
Projektinformation AverS-KIT (BMWi, 0324002A)
REFLEX (EU, H2020, 691685)
Vorab online veröffentlicht am 13.02.2019
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