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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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Model details and results

The model decommissions power plants across the Nordic countries, of which the majority includes oil-fired capacities. From a national perspective, most power plants are decommissioned in Finland including 2.9 GW oil capacity, 2.8 GW coal capacity, and 1.8 GW gas capacity. With respect to the decommissioned Finnish oil capacity, it is worth to recall that the capacity input used for the modelling here includes about 2 GW oil capacity, which is not a part of the ENTSO-E estimates for net generating capacities (cf. main input data section).

English

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