DOI: 10.1016/j.enpol.2020.112057
论文题名: Operating reserve demand curve, scarcity pricing and intermittent generation: Lessons from the Texas ERCOT experience
作者: Bajo-Buenestado R.
刊名: Energy Policy
ISSN: 03014215
出版年: 2021
卷: 149 语种: 英语
中文关键词: Energy-only markets
; Intermittency
; Operating reserves
; Renewable energy
; Resource adequacy
; Scarcity pricing
英文关键词: Commerce
; Alternative systems
; Capacity requirement
; Central planning
; Generation capacity
; Market condition
; Operating reserve
; Price stability
; Resource adequacy
; Costs
; alternative energy
; demand-side management
; electricity generation
; energy market
; price dynamics
; wind power
; Texas
; United States
英文摘要: Resolving the resource adequacy problem has been usually entrusted to the imposition of some kind of long-term capacity requirements or to forward markets. The Operating Reserve Demand Curve (ORDC), which is linked to short-term market conditions and does not require central planning, has been presented as an alternative system with which to ensure long-term resource adequacy in the market. Using hourly data from the Texas ERCOT market between January 2015 and February 2019, we empirically show that ORDC prices are significantly negatively affected by wind generation. We find that, if wind generation is relatively low, a 1% increase in wind generation decreases the ORDC price by around 0.15–0.1%. This fact may preclude the ORDC from providing long-term price signals and price stability to generators. Moreover, we also find that if wind generation is greater than 9000 MW, the ORDC price is expected to be zero, which may further disincentive to increase generation capacity –especially dispatchable capacity that may be needed as a backup if the wind is not blowing. © 2020 Elsevier Ltd Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/167680
Appears in Collections: 气候变化与战略
There are no files associated with this item.
作者单位: Department of Economics, Universidad de Navarra, Spain; Baker Institute for Public Policy, Rice University, United States; Navarra Center for International Development, Universidad de Navarra, Spain
Recommended Citation:
Bajo-Buenestado R.. Operating reserve demand curve, scarcity pricing and intermittent generation: Lessons from the Texas ERCOT experience[J]. Energy Policy,2021-01-01,149