Reliability options : can they deliver on their promises?

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dc.contributor.authorBHAGWAT, Pradyumna
dc.contributor.authorMEEUS, Leonardo
dc.date.accessioned2019-10-09T07:21:01Z
dc.date.available2019-10-09T07:21:01Z
dc.date.issued2019
dc.descriptionFirst published online: 4 October 2019
dc.description.abstractCapacity mechanisms have been controversial in theory as well as practice. Lessons from experience with different capacity mechanisms led to the development of the reliability options. This mechanism promises two advantages over other types of capacity mechanisms. Firstly, it ensures the availability of capacity contracted via the capacity mechanism during scarcity. Secondly, the reliability option mechanism limits any energy market distortion due to its implementation and provides the consumer a hedge from high prices. We assess the ability of reliability options in delivering the two promises by analysing the reliability option designs in Italy and Ireland. We find that they deliver on the first promise but only partly on the second.en
dc.identifier.citationThe electricity journal, 2019, Vol. 32, No. 10, Art. 106667en
dc.identifier.doi10.1016/j.tej.2019.106667
dc.identifier.issn1040-6190
dc.identifier.issue10en
dc.identifier.other106667
dc.identifier.urihttps://hdl.handle.net/1814/64504
dc.identifier.volume32en
dc.language.isoenen
dc.orcid.putcode1814/79502:62825149
dc.orcid.putcode1814/78438:62825151
dc.orcid.uploadtrue*
dc.publisherElsevieren
dc.relation.ispartofThe electricity journalen
dc.relation.ispartofseries[Florence School of Regulation]en
dc.relation.ispartofseries[Energy]en
dc.relation.ispartofseries[Electricity]en
dc.titleReliability options : can they deliver on their promises?en
dc.typeArticleen
dspace.entity.typePublication
eui.subscribe.skiptrue
person.identifier.orcid0000-0003-2008-6393
person.identifier.orcid0000-0003-1490-816X
person.identifier.other41159
person.identifier.other32778
relation.isAuthorOfPublication283dadb6-72c0-4757-91b8-f0ad195e3467
relation.isAuthorOfPublicationf2da77f1-d2c6-454f-a1fc-f3fa3f0d7261
relation.isAuthorOfPublication.latestForDiscovery283dadb6-72c0-4757-91b8-f0ad195e3467
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