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dc.contributor.authorBHAGWAT, Pradyumna
dc.contributor.authorIYCHETTIRA, Kaveri K.
dc.contributor.authorRICHSTEIN, Jörn C.
dc.contributor.authorCHAPPIN, Emile J. L.
dc.contributor.authorDE VRIES, Laurens J.
dc.date.accessioned2017-09-25T12:48:29Z
dc.date.available2017-09-25T12:48:29Z
dc.date.issued2017
dc.identifier.citationUtilities policy, 2017, Vol. 48, pp. 76-91en
dc.identifier.issn0957-1787
dc.identifier.urihttp://hdl.handle.net/1814/48064
dc.descriptionAvailable online 14 September 2017. Open Access funded by VSNU (Association of universities in the Netherlands). Under a Creative Commons license 4.0 Internationalen
dc.description.abstractThe effectiveness of a capacity market is analyzed by simulating three conditions that may cause suboptimal investment in the electricity generation: imperfect information and uncertainty; declining demand shocks resulting in load loss; and a growing share of renewable energy sources in the generation portfolio. Implementation of a capacity market can improve supply adequacy and reduce consumer costs. It mainly leads to more investment in low-cost peak generation units. If the administratively determined reserve margin is high enough, the security of supply is not significantly affected by uncertainties or demand shocks. A capacity market is found to be more effective than a strategic reserve for ensuring reliability.en
dc.language.isoenen
dc.publisherElsevieren
dc.relation.ispartofUtilities policyen
dc.rightsinfo:eu-repo/semantics/openAccessen
dc.titleThe effectiveness of capacity markets in the presence of a high portfolio share of renewable energy sourcesen
dc.typeArticleen
dc.identifier.doi10.1016/j.jup.2017.09.003
dc.identifier.volume48
dc.identifier.startpage76
dc.identifier.endpage91
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