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Can we reconcile different capacity adequacy policies with an integrated electricity market?

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CEEM_Working_Paper_5-_FINON.pdf (1.317Mb)
Date
2013-09
Publisher city
Paris
Publisher
Fondation Paris Dauphine
Collection title
CEEM Working Paper
Collection Id
2013 - 5
Dewey
Economie de la terre et des ressources naturelles
Sujet
energy market; capacity remuneration mechanisms (CRM); European Union
JEL code
Q55; Q58; Q43
URI
https://basepub.dauphine.fr/handle/123456789/13152
Collections
  • LEDa : Publications
Metadata
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Author
Finon, Dominique
Type
Document de travail / Working paper
Item number of pages
38
Abstract (EN)
In the present European Union debate, many consider capacity remuneration mechanisms (CRM) as useless and, if they are eventually considered as useful, there is a necessity of total alignment of capacity adequacy policies in time. We develop an opposite position. The adoption of CRM is a necessity because the market and regulatory failures to invest in peaking units, which are amplified by the large, scale development of intermittent sources by out-of-market policies. Then, provided that some minimal harmonization is sought by regulators and TSOs, each member state should have some freedom in the adoption of his capacity adequacy policies.

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