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Regional Electricity Market Design

image of Regional Electricity Market Design

Do current electricity market designs ensure a sufficient electricity supply at all times? This topic is currently the subject of intense debate across Europe, and several major countries such as Germany, the UK, France and Italy have decided that additional measures – so-called capacity remuneration mechanisms – are needed to supplement current market designs. This report describes and analyses the advantages and disadvantages of a range of measures proposed or currently implemented across Europe, and includes both best estimates of how the implementation of these measures will impact Nordic electricity prices as well as recommendations to the Nordic countries regarding a cost-efficient path to ensuring the Nordic security of supply.

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Capacity adequacy in Nordic countries according to recent studies

A number of studies have been presented recently in the Nordic countries regarding capacity adequacy and/or challenges for the electricity system because of the ongoing integration of intermittent renewable production. This chapter presents a comprehensive description of the findings in these studies. The possible implications of both the Nordic peak load weeks 1–3 2016 and the falling forward prices on future capacity adequacy are also discussed. Finally, this chapter presents some conclusions regarding the need for capacity mechanisms in the Nordic countries.

English

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