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Title: Evolution of Wholesale Electricity Market Design with Increasing Levels of Renewable Generation

Abstract

Variable generation such as wind and photovoltaic solar power has increased substantially in recent years. Variable generation has unique characteristics compared to the traditional technologies that supply energy in the wholesale electricity markets. These characteristics create unique challenges in planning and operating the power system, and they can also influence the performance and outcomes from electricity markets. This report focuses on two particular issues related to market design: revenue sufficiency for long-term reliability and incentivizing flexibility in short-term operations. The report provides an overview of current design and some designs that have been proposed by industry or researchers.

Authors:
; ; ; ; ;
Publication Date:
Research Org.:
National Renewable Energy Lab. (NREL), Golden, CO (United States)
Sponsoring Org.:
USDOE Office of Energy Efficiency and Renewable Energy Wind Power Technologies Office
OSTI Identifier:
1159375
Report Number(s):
NREL/TP-5D00-61765
DOE Contract Number:
AC36-08GO28308
Resource Type:
Technical Report
Country of Publication:
United States
Language:
English
Subject:
17 WIND ENERGY; 14 SOLAR ENERGY; 24 POWER TRANSMISSION AND DISTRIBUTION; CAPACITY; FLEXIBILITY; TRANSMISSION; NATIONAL RENEWABLE ENERGY LABORATORY; ELECTRICITY MARKET DESIGN; RENEWABLES; VARIABILITY; GENERATION; NREL

Citation Formats

Ela, E., Milligan, M., Bloom, A., Botterud, A., Townsend, A., and Levin, T. Evolution of Wholesale Electricity Market Design with Increasing Levels of Renewable Generation. United States: N. p., 2014. Web. doi:10.2172/1159375.
Ela, E., Milligan, M., Bloom, A., Botterud, A., Townsend, A., & Levin, T. Evolution of Wholesale Electricity Market Design with Increasing Levels of Renewable Generation. United States. doi:10.2172/1159375.
Ela, E., Milligan, M., Bloom, A., Botterud, A., Townsend, A., and Levin, T. Mon . "Evolution of Wholesale Electricity Market Design with Increasing Levels of Renewable Generation". United States. doi:10.2172/1159375. https://www.osti.gov/servlets/purl/1159375.
@article{osti_1159375,
title = {Evolution of Wholesale Electricity Market Design with Increasing Levels of Renewable Generation},
author = {Ela, E. and Milligan, M. and Bloom, A. and Botterud, A. and Townsend, A. and Levin, T.},
abstractNote = {Variable generation such as wind and photovoltaic solar power has increased substantially in recent years. Variable generation has unique characteristics compared to the traditional technologies that supply energy in the wholesale electricity markets. These characteristics create unique challenges in planning and operating the power system, and they can also influence the performance and outcomes from electricity markets. This report focuses on two particular issues related to market design: revenue sufficiency for long-term reliability and incentivizing flexibility in short-term operations. The report provides an overview of current design and some designs that have been proposed by industry or researchers.},
doi = {10.2172/1159375},
journal = {},
number = ,
volume = ,
place = {United States},
year = {Mon Sep 01 00:00:00 EDT 2014},
month = {Mon Sep 01 00:00:00 EDT 2014}
}

Technical Report:

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