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Capacity mechanisms and performance incentives: avoiding the « money for nothing» problem
Mastropietro, Paolo; Rodilla Rodríguez, Pablo; Batlle López, CarlosSince their early implementation, capacity mechanisms have overlooked, or at least paid insufficient attention, to the firmness dimension of the security-of-supply problem. These regulatory instruments have not only to ... -
Capacity remuneration mechanisms in the context of the European internal energy market
Mastropietro, Paolo; Rodilla Rodríguez, Pablo; Batlle López, Carlos (Association des Economistes de l'Energie (París, Francia), 04/06/2015)After decades of strong opposition, several European countries are now in the process of implementing some kind of capacity remuneration mechanism (CRM). Unfortunately, these national initiatives seem to aim at energy ... -
De-rating of wind and solar resources in capacity mechanisms: a review of international experiences
Mastropietro, Paolo; Rodilla Rodríguez, Pablo; Batlle López, CarlosNon-conventional renewable energy technologies are already a key element in the expansion of many power systems. These resources, whose deployment was fostered through different types of support mechanisms in the last ... -
Redesigning residual cost allocation in electricity tariffs: a proposal to balance efficiency, equity and cost recovery
Batlle López, Carlos; Mastropietro, Paolo; Rodilla Rodríguez, PabloIn most power systems, residual costs (including, but not limited to, residual network costs and renewable support costs), are allocated through volumetric charges. This design, whose inefficiency has been latent in the ... -
RES-E-driven reform for the Colombian electricity market: a proposal
Mastropietro, Paolo; Rodilla Rodríguez, Pablo; Batlle López, CarlosThe Colombian electricity sector, as other power sectors in Latin America, is characterised by an ex-post market which calculates prices only after the operation of the system. No commercial commitment is established in ... -
Sighting in capacity mechanisms to better approach the target: reliability metrics and firm supply calculation
Brito Pereira, Paulo; Mastropietro, Paolo; Rodilla Rodríguez, Pablo; Nobrega Barroso, Luiz Augusto; Batlle López, CarlosCapacity mechanisms are now considered a regulatory pillar of the decarbonisation process that liberalised power systems are undergoing. Remuneration in these mechanisms depends on the so-called firm supply (or capacity ... -
The Italian capacity remuneration mechanism: description and open questions
Mastropietro, Paolo; Fontini, Fulvio; Rodilla Rodríguez, Pablo; Batlle López, CarlosItaly will soon introduce a Capacity Remuneration Mechanism (CRM) based on reliability option contracts. This paper presents a detailed description of this CRM, as well as its regulatory evolution during the design phase. ... -
The role of risk aversion and market completeness in gas and electricity investment coordination issues
Usera Rodés, Inés; Rodilla Rodríguez, Pablo; Herrero Gallego, Ignacio; García González, Javier; Batlle López, Carlos (Pontificia Universidad Católica de Chile; Asociación Latino-Iberoamericana de Sociedades de Investig (Santiago de Chile, Chile), 02/10/2016)Given the increasing dominance of natural gas in the US electric power systems, the traditional concern of electricity regulators to ensure that market agents take efficient power plant investment decisions expands to ... -
The value of aggregators in electricity systems
Burger, Scott; Chaves Ávila, José Pablo; Batlle López, Carlos; Pérez Arriaga, José IgnacioDistributed energy resources ("DERs") are being adopted throughout the world. These technologies have the potential to not only deliver the valuable electricity services that have traditionally been provided by centralized ...