UK Electricity Market Reform: Lessons from a policy and regulatory journey
|
|
- Donald Bridges
- 6 years ago
- Views:
Transcription
1 UK Electricity Market Reform: Lessons from a policy and regulatory journey Michael Grubb Professor of Energy and Climate Change, University College London (UCL) Chair, UK Panel of Technical Experts on Electricity Market Reform Presentation to Fifth Green Growth Knowledge Platform Annual Conference Sustainable Infrastructure World Bank, Washington DC, th November 2017 Broad evolution of UK policy & regulation EMR reforms: instruments & emerging results Lessons & regulatory journey
2 Figure 1: UK electricity generation by fuel, Figure 1 The dash for gas the decline of coal, a competitive market & Elec Market Reform Source (data): Digest of UK Energy Statistics, various years
3 UK electricity journey overview 1990s 2000s 2010s Policy environment First liberalisation - Competition through electricity pool - System marginal price + cap y payment Dash for gas, based on Long term contracts (PPAs) with distrib n companies Some contract support for renewables Collapse of R&D Bilateral trading market (NETA/BETTA) - No pool, pure marginal cost pricing - Vertical integration of generators with supply companies; Limited investment Market certificate trading (ROCs) support for renewables Electricity Market Reform (EMR) + Climate Change Act Regulatory remit Promote competition Concerns about oligopolistic power Protect interests of consumers Growing concerns about lack of investment or new entry, transmission connection & bottlenecks, and short-termism Protect interests of present and future consumers
4 UK Electricity Market Reform - Background Academic struggles between idealised theory and emerging evidence around overall investability Nuclear & renewables seen as key to future Energy transition estimated to involve over 100bn investment during 2010s beyond the pockets of incumbent, terms of finance crucial Political evolution: Rising energy prices Climate Change Committee (2008) concern around all forms of capital intensive investment, amplified by inadequate C price Ofgem (regulator) concern around security
5 Electricity Market Reform (EMR) Controversial step for a pioneer of electricity liberalisation Ofgem s Project Discovery (2009) Regulator s detailed study of the future challenges of the electricity market Addressing key risks identified became the three aims of EMR: Reduce the risks to security of supply Reduce costs to consumers Support progress towards climate change targets
6 UK Electricity Market Reform: Lessons from a policy and regulatory journey Michael Grubb Professor of Energy and Climate Change, University College London (UCL) Chair, UK Panel of Technical Experts on Electricity Market Reform Presentation to Fifth Green Growth Knowledge Platform Annual Conference Sustainable Infrastructure World Bank, Washington DC, th November 2017 Broad evolution of UK policy & regulation EMR reforms: instruments & emerging results Lessons & regulatory journey
7 What is EMR? Low Carbon Support Contracts for Difference (fixed-price 15-yr contracts) Carbon floor price 4 Key Policies Capacity Mechanism (capacity payments on availability) Emissions Performance Standard Security of Supply No new coal EMR brought major changes to the market. Main regulatory input on design of Capacity Mechanism and overall institutional 7
8 1. Contracts for Difference (CfDs) (structure for renewable energy & nuclear) 8
9 Gains from auctioned contracts Strike Price ( /MWh) Initial gain from auctions followed by huge offshore wind cost reduction strike price for five offshore wind farms depending on completion date ,89 (Inc. East Anglia 1) , administered CfD prices, /MWh* 2015, first auction, offshore wind price: /MWh 2017, second auction, two projects at 57.50/MWh Competitive CfDs drive down cost hardware, supply chain & finance (Newbery (2015) estimates CfDs reduced WACC by 3 % points saving > 2bn/yr on estimated cost of energy transition). boost to UK low-carbon supply chain, as part of government s emerging Clean Growth Plan (Inc. Neart Na Gaoithe) ,75 (Inc. Triton Knoll) 57,50 (Hornsea II, Moray East) prices halve 20 0 Allocation / auction rounds 2013/ / / / /22 Delivery years (to first generation) Round 1 Admin Strike Price (Offshore Wind) Round 1 Contracts - Offshore Wind / ACT Round 2 Contracts - Offshore Wind 4 years difference in delivery years Source: From M.Grubb and D.Newbery (2017), UK Electricity Market Reform and the Energy Transition: Emerging Lessons, MIT working paper (submitted) * 15-yr Contract prices
10 2. Capacity Mechanism / Market (to reward firm generating capacity) Why Ensure market can deliver security of supply Payment for availability to encourage investment How Effect Market wide auction of capacity obligations, run by National Grid Successful bidders get fixed revenue additional to wholesale market Obligated to deliver capacity when needed or face penalties Technology neutral but those receiving CfDs are not eligible Pilot scheme to help Demand Side Response (DSR) Reduces price volatility Insurance against blackouts Encourages demand side - somewhat? Expected cost estimate required for new CCGTs, around 50/kw/yr Would give 2.5bn/yr into market, much expected to pass through? Less peaky prices impact on interconnector / other investment Design makes it very difficult for DSR to participate equally 10
11 MW Capacity: be careful what you ask for Lots of bids, low prices, new options, lots of angst.. First main capacity auction (Dec 2014) Almost 50GW awarded, clearing price 19.40/kW/year* Mix of 1-year, 3-year (refurbishment) and 15 year (2.5GW of new build out of 10GW bid) contracts Mainly existing nuclear, gas and coal generators One new CCGT (1,650MW) wins an agreement but failed to raise final investment Only 174MW of demand side response 2.5GW of capacity reserved for year ahead auction (b) Successful New Build capacity by fuel and technology type in the T-4 auctions 3500 New build in Capacity Auctions for for for 2020 Battery Reciprocating engine CHP Waste CCGT OCGT CCGT Withdrawn Second main capacity auction (Dec 2015) Clearing price 18.00/kW/year 46.35GW awarded new options replace retiring coal Interconnectors, 1GW of small reciprocating engine Concern about diesel Third main capacity auction (Dec 2016) Clearing price 22.50/kW/year 52.43GW awarded, inc 3.4 GW new capacity over 500MW batteries New diesel largely excluded, but wider concern about embedded benefit exemptions from transmission
12 Carbon price floor compelling economics Combined with the Emissions Performance Standard, effectively bans new coal and improves economics of gas vis-à-vis existing coal plants Floor price designed to give market value to the government s Social cost of carbon, through top-up to EU ETS price - Quickly renamed Carbon Price Support (CPS)
13 Generation from coal, TWh/yr Bigger support than anticipated, but.. Beihang: Planetary Economics and the Political Economy of Energy & Climate Change Mission accomplished? Dramatic (80%) fall since 2012: first hours / days without coal power for over a Century Driven as declining gas price meets rising carbon price, and renewables + (2016) gas Nov 2017: carbon price about right till coal phased out GB coal power generation, Q C-Price support doubled to 18/kWh Carbon Price Support /tco2, added to EU ETS /tCO /tCO CPS 4.94/tCO2-0
14 UK Electricity Market Reform: Lessons from a policy and regulatory journey Michael Grubb Professor of Energy and Climate Change, University College London (UCL) Chair, UK Panel of Technical Experts on Electricity Market Reform Presentation to Fifth Green Growth Knowledge Platform Annual Conference Sustainable Infrastructure World Bank, Washington DC, th November 2017 Broad evolution of UK policy & regulation EMR reforms: instruments & emerging results Lessons & regulatory journey
15 UK Electricity Market Reform - Key lessons For Strategic ( Third Domain ) investments eg security and sustainability inc emerging renewables - a role for government is inescapable The public benefits exceed any risk-adjusted return in spot market Can shifting some risk to government (eg. long term contract) be good? Yes if the risks arise from private perception of policy risk; markets (particularly capital markets) are myopic; or the benefits are partly public (eg. Due to inadequate environmental pricing, or innovation / learning, etc) Do we need a Capacity Mechanism in addition to low carbon supports? Yes in UK conditions but scope is crucial, so too is design Auctions are very valuable competitive pressures remain important Better than government decision at cutting costs / finding options Institutional complexities contracting bodies and their governance
16 EMR - Some outstanding questions Does the EMR takes us back towards public control or new forms of competition arising from auctions? More State involvement but still using competition, in more efficient way? Some risks of perverse incentives remain (eg. Metered output) Subsidising coal (CM) whilst trying to phase it out (C price) As renewables grow, will need more time- and location- market signals Exit Strategy? - Revolution or evolution? May be an evolving revolution New market structures needed for time and locational signals for investment and distributed service providers? Can / should we move towards a contracts market (eg. long term green consumer contracts, community energy, bundled service contracts) as renewables costs fall?
17 Regulatory dimensions include Remit (future consumers?) and metrics Three Components of Impact Assessment Monetised aggregate Cost- Benefit Analysis Social & distributional impacts Explicit consideration of strategic & sustainability issues Impact Assessment Strengthening analysis of these issues is designed to more systematically represent issues related to the interest of future consumers, complementary to a monetised CBA Improved consistency Increased transparency
UK Electricity Market Reform: Lessons from a policy and regulatory journey
UK Electricity Market Reform: Lessons from a policy and regulatory journey Michael Grubb Professor of Energy and Climate Change, University College London (UCL) Institute of Sustainable Resources & Energy
More informationLessons from UK energy policy & Energy Market Reform
Lessons from UK energy policy & Energy Market Reform Michael Grubb Professor of International Energy and Climate Change Policy, University College London (UCL) Senior Advisor, UK Office of Gas and Electricity
More informationPlanetary Economics, energy transition & policy experience
Planetary Economics, energy transition & policy experience Seminar to Duke University, 1 st December 2017 Introduction to Planetary Economics : Three Domains and Three Pillars of Policy The Solow Residual
More informationBrexit: implications for the energy market
Agenda Advancing economics in business Brexit: implications for the energy market The outcome of the UK s EU referendum on 23 June 2016 had an immediate effect on the financial markets in the EU and beyond.
More informationUK energy policy and market reform
Energy Futures Lab UK energy policy and market reform Dr Robert Gross Director Centre for Energy Policy and Technology Imperial College London World class scholarship, education and research Number 8 in
More informationCAN YOU RELY ON A RELIABILITY OPTION?
CAN YOU RELY ON A RELIABILITY OPTION? Andy Kelly National Power Summit, February 2017 OVERVIEW OF PRESENTATION TOPICS New capacity mechanism is complex but aim today to focus on some key topics RO price
More informationElectricity Market Reform and the UK's liberalised energy market
Electricity Market Reform and the UK's liberalised energy market The Institute of Energy Economics Japan Tokyo 3 March 2015 Jim Skea Research Councils UK Energy Strategy Fellow Structure of talk Drivers
More informationCost-effectiveness of renewable energy support schemes in the European Union
Cost-effectiveness of renewable energy support schemes in the European Union Arjun Mahalingam, Dr. David Reiner, Prof. David Newbery, EPRG, University of Cambridge IAEE Conference, New York, 16 June 2014
More informationInvesting under regulatory uncertainty
August 2016 Investing under regulatory uncertainty Finding the new equilibrium The investment challenge In the past, assessing the prospects for generation investment was relatively straightforward. Given
More informationAbout Energy UK. Introduction
REC 34-15 Energy UK response to DG Comp investigation of Investment Contract (early Contract for Difference) for Lynemouth power station biomass conversion 10 May 2015 About Energy UK Energy UK is the
More informationMarket design for large shares of renewables: time and space
Market design for large shares of renewables: time and space David Newbery & Karsten Neuhoff EPRG Spring Research Seminar Cambridge 16 May 2008 http://www.electricitypolicy.org.uk Outline Challenge for
More informationUK electricity market reform - update
UK electricity market reform - update Energy experts meeting, Brussels 20 th July 2011 Tim Abraham, DECC (UK) Why we consider change is necessary Current UK arrangements are unlikely to meet the challenges
More informationMichael Thorpe Managing Director Infrastructure and Utilities
Michael Thorpe Managing Director Infrastructure and Utilities INTRODUCTION RENEWABLES IN THE UK RENEWABLES / GAS GENERATION IN THE US OPTIMISING THE OUTCOME Introduction Coming together is a beginning;
More information1. How can Ofgem ensure that sharper Cash Out incentives from the Significant Code Review:
1. How can Ofgem ensure that sharper Cash Out incentives from the Significant Code Review: encourage generators and suppliers to balance their own positions before gate closure, thus reducing the call
More informationThis response considers the issues at an overall level, concentrating on the nonnetwork businesses within ScottishPower.
SUBMISSION FROM SCOTTISHPOWER You have already received evidence from our networks business on the matters within their areas of responsibility as a transmission owner and distribution network operator
More informationCapacity Market Auction Guidelines
Capacity Market Auction Guidelines 2018 year ahead Capacity Auction (T-1) Delivery year 2019/20 2018 four year ahead Capacity Auction (T-4) Delivery year 2022/23 Capacity Market Auction Guidelines 19 th
More informationDedicated focus on Renewables
Dedicated focus on Renewables Anders Dahl Head of Renewables London, 22 September 2010 Vattenfall Today s Focus Delivering Vattenfall s Vision A major and expanding Wind player Developing the business
More informationMarket Stabilisation Analysis: Enabling Investment in Established Low Carbon Electricity Generation
Click here to enter text. 21 April 2017 Market Stabilisation Analysis: Enabling Investment in Established Low Carbon Electricity Generation An Arup report for ScottishPower Renewables July 2017 21 April
More informationAre the British Electricity Trading and Transmission Arrangements Future-Proof?
Are the British Electricity Trading and Transmission Arrangements Future-Proof? Richard Green University of Birmingham (from September 2011, Imperial College London) A timeline 1990: Electricity Pool of
More informationElectricity market design with thoughts for New Zealand. Peter Cramton University of Cologne and University of Maryland 12 February 2018
Electricity market design with thoughts for New Zealand Peter Cramton University of Cologne and University of Maryland 12 February 2018 Goal of electricity markets: Reliable electricity at least cost Short-run
More informationCapacity market design for demand-side participation: EMR proposals
Capacity market design for demand-side participation: EMR proposals Stephen Woodhouse D3 Expert Stakeholder Workshop 3 March 2011 Pöyry what do we do? 2 7000 employees across 49 countries Pöyry is Europe
More informationEngineering, Economics and Regulation of the Electric Power Sector TERM PAPERS
Engineering, Economics and Regulation of the Electric Power Sector Spring term 2010 Instructor: Ignacio J. Pérez-Arriaga Course number: ESD.934, 6.974 TERM PAPERS Logistics Papers can be prepared individually
More informationCorporate Sourcing of Renewable Energy Cillian O Donoghue, Climate & Energy Manager, Eurometaux - European Non-Ferrous Metals Association
Corporate Sourcing of Renewable Energy Cillian O Donoghue, Climate & Energy Manager, Eurometaux - European Non-Ferrous Metals Association 29 th January 2019 Why we care: Non-Ferrous metals production is
More informationThe UK Carbon Price Floor
The UK Carbon Price Floor Daniel Radov Associate Director EPRG Winter Seminar Cambridge 9 December 11 Motivation for Carbon Price Floor 3 25 15 1 5 Jun-8 Jun-9 Jun-1 Jun-11 3 25 15 1 5 EUA Forwards ( )
More informationDESIGNING A COMPETITIVE BIDDING PROCESS, AND ENSURING
CAPACITY MECHANISMS WORKING GROUP 14 APRIL 2015 DESIGNING A COMPETITIVE BIDDING PROCESS, AND ENSURING COMPETITION BETWEEN NEW AND EXISTING CAPACITY This paper compiles the requirements in the Guidelines
More informationThe Scottish Electricity Dispatch Model
The Scottish Electricity Dispatch Model Shona Pennock, Simon Gill, Keith Bell University of Strathclyde Glasgow, UK shona.pennock@strath.ac.uk, simon.gill@strath.ac.uk, keith.bell@strath.ac.uk Abstract
More informationDelivering the Low Carbon Electricity System
Delivering the Low Carbon Electricity System Michael Pollitt Judge Business School CUEN, Cambridge 4 th November, 2009 Delivering a Low-Carbon Electricity System (CUP, 2008) Part I: System Fundamentals
More informationOfgem s embedded benefits reform minded to decision
Ofgem s embedded benefits reform minded to decision Summary and Aurora s commentary Background The first two Capacity Market auctions held in December 2014 and December 2015 delivered results that largely
More informationYour budgeting companion
Your budgeting companion October 2018 r Get in touch Page 08001056 of 29 8101 customer_services@orsted.co.uk orstedbusiness.co.uk Page 1 of 29 Budget with confidence Inside this new report, you ll find
More informationAre Low Carbon Policies Affordable?
Are Low Carbon Policies Affordable? David Newbery Renewable Energy Foundation Are Low Carbon Policies Affordable? St George s House Windsor Castle 28 th October 2010 http://www.eprg.group.cam.ac. uk Outline
More informationThe French capacity market: lessons learnt and way forward
The French capacity market: lessons learnt and way forward Sécurité d approvisionnement en électricité : Regards croisés France-Allemagne Thomas Veyrenc Director, Markets Department The French capacity
More informationOverview of the financing framework for the German Energiewende
Overview of the financing framework for the German Energiewende Dr. Urban Rid Director General Energy Policy electricity and grids Federal Ministry for Economic Affairs and Energy Berlin, 13 November 2014
More informationLCCC and ESC Supplier Event. 10 May 2017
LCCC and ESC Supplier Event 10 May 2017 Welcome and Housekeeping Agenda: 09:00 REGISTRATION 09:25 Jennifer Snelson Welcome and Housekeeping 09:30 Ruth Herbert Introduction to LCCC and ESC 09:50 Dan Harry
More informationHow achievable are the UK s 2020 renewable energy targets?
How achievable are the UK s 2020 renewable energy targets? Gareth Redmond Office for Renewable Energy Deployment What is the target? A legally binding, EU target to deliver 15% of the UK s energy needs
More informationEconomic Issues. Dr. Jim Watson Director. National Ambitions for Power Generation in the UK London, 17 th March 2010
Economic Issues Dr. Jim Watson Director National Ambitions for Power Generation in the UK London, 17 th March 2010 Overview 1. The economics of the challenge 2. Some economic considerations 3. Economics
More informationElectricity trading and transmission arrangements. Towards better electricity trading and transmission arrangements
Agenda Advancing economics in business Electricity trading and transmission arrangements Towards better electricity trading and transmission arrangements The UK is facing the significant challenge of integrating
More informationCapacity market suspension: Implications for the GB power market
November 2018 Capacity market suspension: Implications for the GB power market On 15 November 2018, the General Court of the European Union annulled the European Commission s decision to not raise objections
More informationExperiences of PJM and Other US Markets in a Deregulated Environment
Experiences of PJM and Other US Markets in a Deregulated Environment What has worked and what are the challenges? Andrew Ott Executive Vice President, Markets, PJM May 27, 2014 Market Evolution Day-Ahead
More informationOutline. Market design and support policies for a low carbon electricity future. Why low-c electricity? 2020 UK s carbon targets are challenging
Outline Market design and support policies for a low carbon electricity future David Newbery Global CO 2 economics Copenhagen 18-19 August 29 http://www.electricitypolicy.org.uk How much & what low-c electricity
More information100% Renewables for Australia?
100% Renewables for Australia? Challenges and Opportunities Dr Jenny Riesz AEMC 8 th October 2014 Who am I? Overview 100% renewables worth thinking about? 100% renewables technically feasible? 100% renewables
More informationMarket design and support policies for a low carbon electricity future
Market design and support policies for a low carbon electricity future David Newbery Global CO 2 economics Sønderborg, Denmark 18-19 August 2009 http://www.electricitypolicy.org.uk Outline How much & what
More informationTSO Recommendation System Services. 26 th June 2013
TSO Recommendation System Services 26 th June 2013 Agenda 1. Context and background 2. Consultation Process 3. Main consultation elements 4. Key Responses to Third Consultation 5. Recommendations 6. Economic
More informationOverview of National Grid s Balancing Services
Overview of National Grid s Balancing Services Place your chosen image here. The four corners must just cover the arrow tips. For covers, the three pictures should be the same size and in a straight line.
More informationSummary Sheets. Other departments or agencies:
Summary Sheets Title: Electricity Market Reform options for ensuring electricity security of supply and promoting investment in low-carbon generation Lead department or agency: DECC Other departments or
More informationElectricity liberalisation in the UK the end is nigh
Electricity liberalisation in the UK the end is nigh Malcolm Keay Preamble: The Dynamics of Power Generation investment in liberalised power markets will be problematic for governments It will be lumpy,
More informationFlexibility and the outlook for the GB power market
Aurora Energy Research Limited. All rights reserved. Flexibility and the outlook for the GB power market Presentation to Demand Responsive, 11 May 217 Dr. Benjamin Irons, Director, Aurora Energy Research
More informationElectricity Charging Seminar Level Playing Field
Electricity Charging Seminar Level Playing Field Electricity Charging Seminar Level Playing Field Radisson Blu, Glasgow 21 st July 2016 Overview of Transmission Charging Damian Clough, Senior Commercial
More informationThe liberalisation of the electricity market in France
The liberalisation of the electricity market in France Julien Tognola deputy-director for energy markets directorate general for energy and climate change ministry for environment, energy and the sea Electricity
More informationGB Balancing Arrangements
GB Balancing Arrangements 25 th April 2014 Mike Edgar Contracts Manager National Grid GB SO Residual Balancer UK and US Electricity and Gas Transmission & Distribution 2 GB Market Arrangements Forwards
More informationIs the UK still leading power sector reform? Theory and the real world
ICEA discussion meeting Is the UK still leading power sector reform? Theory and the real world Art Workers Guild, London, 22 January 2014 ECONOMIC CONSULTING ASSOCIATES 41 Lonsdale Road London NW6 6RA
More informationOffshore wind after AGCS Expert Days 2017, Munich November 3, 2017 Bent Christensen, Senior Vice President
Offshore wind after 2020 AGCS Expert Days 2017, Munich November 3, 2017 Bent Christensen, Senior Vice President Introduction Our contribution to clean energy so far >2,370 offshore wind turbines installed
More informationUK Renewable Energy Support: Past Experience and Current Challenges
UK Renewable Energy Support: Past Experience and Current Challenges Meg Gottstein, Principal The Regulatory Assistance Project Workshop on Renewable Energy Support in Europe Florence School of Regulation--April
More informationAggregated Costs of the German Energiewende How to improve Cost Effectiveness
1 Aggregated Costs of the German Energiewende How to improve Cost Effectiveness Prof. Dr. Georg Erdmann TU Berlin; Chair Energy Systems Founder of Prognoseforum GmbH Member of the Federal Commission Energie
More informationRenewables subsidy schemes in Europe. Energy Economics Summer School, University of Auckland 19-Feb-2018
Renewables subsidy schemes in Europe Energy Economics Summer School, University of Auckland 19-Feb-2018 Briony Bennett 2008 - Bachelor of Arts & Science, University of Auckland 2012 - Masters of International
More informationBiomass Opportunities in UK Electricity Market. R J Kennedy
Biomass Opportunities in UK Electricity Market R J Kennedy Introduction Issues very complex Very political Issues very interrelated Climate Change Renewable Power does not work work without subsidy Biomass
More informationDelivering security of supply: How can the market meet Britain s energy needs? Andrew Wright Senior Partner, Markets
Delivering security of supply: How can the market meet Britain s energy needs? Andrew Wright Senior Partner, Markets The Ofgem agenda in 2010 Consumers: 30 day rule, annual statements, separate financial
More informationSouthern California Edison Approach to Renewable Integration June 7, 2011
Southern California Edison Approach to Renewable Integration June 7, 2011 Page: 0 SCE s 2010 Resource Mix Natural Gas All Resources 100% = 75 billion kwh/yr Renewable Resources 100% = 14.5 billion kwh/yr
More informationOverview of Study Background of Study
1 Overview of Study Background of Study A fresh approach to the topic of capacity markets a study at a European level Involvement of 15 European stakeholders as members Year-long project started in January
More informationDecarbonization pathways and the new role of DSOs
Decarbonization pathways and the new role of DSOs Kristian Ruby Secretary General Eurelectric 3 April 2019 We have modelled 3 deep decarbonization scenarios based on electrification of key economic sectors
More informationSubmission by Prospect to the Department for Business Energy and Industrial Strategy
Coal Generation in Great Britain Submission by Prospect to the Department for Business Energy and Industrial Strategy 8 th February 2017 www.prospect.org.uk Latest revision of this document: https://library.prospect.org.uk/id/2017/00289
More informationThe impact of the EU ETS on European energy and carbon markets
The impact of the EU ETS on European energy and carbon markets David Newbery Danish Environmental Economic Conference Skodsborg Hotel 23 August 2010 http://www.eprg.group.cam.ac. uk Outline Climate Change
More informationGreenhouse Gas and Electricity Trading Simulation GETS John SCOWCROFT The Union of the Electricity Industry - EURELECTRIC
Vienna, 3 July 2000 Greenhouse Gas and Electricity Trading Simulation GETS John SCOWCROFT The Union of the Electricity Industry - EURELECTRIC The Kyoto Protocol and the Electricity Sector - Key points
More informationUK Generation. BAML lunch - 29 th March Alison Kay Commercial Director Transmission
UK Generation BAML lunch - 29 th March 2012 Alison Kay Commercial Director Transmission Cautionary statement This presentation contains certain statements that are neither reported financial results nor
More informationData collected February 2019 Report published March 2019
Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 GW Data collected February 2019 Report published March 2019 The wholesale market report and the
More information1. EXECUTIVE SUMMARY AND KEY RECOMMENDATIONS
1. EXECUTIVE SUMMARY AND KEY RECOMMENDATIONS EXECUTIVE SUMMARY Since industrialisation, the United Kingdom has relied heavily on fossil fuels for the bulk of its energy supply. This is by and large still
More informationElectricity System Operator Forward Plan 2018/19
Electricity System Operator Forward Plan 2018/19 Contents 1. Our vision 2. An ambitious plan 3. A changing landscape 4. Value for consumers 5. A plan built with our customers and stakeholders 6. Our roles,
More informationModelo de regulação do setor elétrico na Inglaterra. Paul Whittaker Diretor de Regulação da National Grid
Modelo de regulação do setor elétrico na Inglaterra Paul Whittaker Diretor de Regulação da National Grid São Paulo, 18 de março de 2015 A brief history of UK electricity State control (1948 1992) Technocratic
More informationDepartment for Energy and Climate Change - overview of major schemes and relevant secondary legislation 1
Department for Energy and Climate Change - overview of major schemes and relevant secondary legislation 1 Renewables Obligation Feed-in Tariffs Scheme Renewable Heat Incentive Scheme Warm Home Discount
More informationPower System Flexibility in the German and European Context
Power System Flexibility in the German and European Context Katharina Grave BMWi Referat IIIB1 06.10.2017 17-11-07 Referent 1 What is flexibility? 11/7/2017 2 The potential for flexibility lies within
More informationAddressing the Financing Challenge An Industry Perspective
Addressing the Financing Challenge An Industry Perspective Jean-Pol PONCELET Nuclear Finance Conference International Framework for Nuclear Energy Cooperation (IFNEC) and NEA Paris, 11-12 May 2016 The
More informationLarge Scale Biomass Plants
Large Scale Biomass Plants The challenges, opportunities and lessons to be learnt Washington Renewable Power Ltd 1 Introduction Biomass is plant based material used for the production of energy. Biomass
More informationThe Experience of the British Carbon Price Floor A fiscal approach of a carbon price floor in one sector
The Experience of the British Carbon Price Floor A fiscal approach of a carbon price floor in one sector Dominique FINON Workshop Chaire EEM & Chaire CEC, 14 June 2016 «Prix plancher du carbone et réforme
More informationPower Markets and Renewables Deployment in Developing Countries
Power Markets and Renewables Deployment in Developing Countries Goran Strbac Imperial College London g.strbac@imperial.ac.uk and Frank A. Wolak Stanford University wolak@zia.stanford.edu Outline of Presentation
More informationThe Future of Electricity Liberalisation in UK
The Future of Electricity Liberalisation in UK Michael Pollitt Talk to EdF Executives, Brussels 2 nd December 2010 Outline Current policy background Project Discovery Electricity Market Review RPI-X@20
More informationIntegration des Europäischen Strommarktes: Herausforderungen und Lösungsperspektiven
Integration des Europäischen Strommarktes: Herausforderungen und Lösungsperspektiven Prof. Dr. Jan Horst Keppler Professor of economics, Université Paris-Dauphine Scientific Director, Chaire European Electricity
More informationElectricity Generation
Electricity Generation Understanding generation and dispatch (Session 4) Yerim Park & Dennis Volk IEA Electricity System Training Week, Bangkok, November 2013 Global Electricity Capacity 9760 GW in 2035
More informationCompetitive Markets. Facilitated Dialogue: Market Restructuring & Renewable Energy. June 10-12, 2013 Mexico City, Mexico. Hisham Choueiki, Ph.D., P.E.
Competitive Markets Facilitated Dialogue: Market Restructuring & Renewable Energy June 10-12, 2013 Mexico City, Mexico Hisham Choueiki, Ph.D., P.E. Department of Energy and Environment Public Utilities
More informationDEVELOPMENTS IN THE GREEK ENERGY LANDSCAPE
Investment Energy Summit Greece, Cyprus, Israel RE-DESIGNING THE FRAMEWORK OF THE EUROPEAN ENERGY MARKET DEVELOPMENTS IN THE GREEK ENERGY LANDSCAPE THE INVESTOR S POINT OF VIEW Dinos A. Benroubi Executive
More informationCapacity Market. What can we learn from the pre-qualification results?
Capacity Market WINTER 2018/19 AUCTION What can we learn from the pre-qualification results? OCTOBER 2014 In December the GB power market will hold its first Capacity Market auction, a new government policy
More informationRenewable energy: regulatory and market issues
Renewable energy: regulatory and market issues László Szabó Please feel free to add your logo here! www. erranet.org Outline Renewable electricity outlook Policy context Technology development Regional
More informationChallenges for the EU fossil fuel fleet
Challenges for the EU fossil fuel fleet Graham Weale, Professor of Energy Economic & Politics - Ruhr University Bochum, Germany IEA ESAP Conference 17 th Oct. 2016 - Paris Agenda 1. The current role of
More informationElectricity Market Reform in the UK
Electricity Market Reform in the UK Michael Pollitt Judge Business School 15 th April 2013 CRIEPI, Tokyo Outline Thanks to Aoife Brophy Haney and CRIEPI Introduction and background Wholesale electricity
More informationStatus and Challenges of the German Energiewende
Status and Challenges of the German Energiewende Prof. Dr. Andreas Löschel Westfälische Wilhelms University Münster Energy Colloquium, University of Oxford, 23 May 2017 1/ 16 The German Energy Turn Energiewende
More informationPricing of RES in the EU
Pricing of RES in the EU Introduction to remuneration of RES Mara Marthe Kleiner Mario Ragwitz Andreas Jahn BEIJING, 12 DECEMBER 2017 Set-up of European energy markets Europe introduced competitive energy
More informationELEXON response to National Grid s consultation of its System Needs and Product Strategy 18 July 2017
ELEXON response to National Grid s consultation of its System Needs and Product Strategy 18 July 2017 ELEXON sent the following responses to National Grid in relation to its System Needs and Product Strategy
More informationExecutive summary. Value of Smart Power Generation for utilities in Australia. A white paper by Wärtsilä and Roam Consulting
Value of Smart Power Generation for utilities in Australia A white paper by Wärtsilä and Roam Consulting Executive summary This study analyses the potential of Smart Power Generation () power plants in
More informationPÖYRY S VIEW ON MAIN ISSUES FOR PHASE II OF THE REVIEW OF THE SEM HLD 14 October 2013 Gary Keane
PÖYRY S VIEW ON MAIN ISSUES FOR PHASE II OF THE REVIEW OF THE SEM HLD 14 October 2013 Gary Keane The wider policy context for the Market Integration project is complicated and continues to change We have
More informationRenewable Energy Auctions: An Overview of Design Options
Renewable Energy Auctions: An Overview of Design Options Workshop of the Renewable Energy Working Party (REWP) Paris, 14 March 2016 Henning Wuester, Director, Knowledge, Policy and Finance Centre, IRENA
More informationMaking the Electricity System Work
Making the Electricity System Work Variable Renewables Electricity Systems Integration get it right Alessandro Clerici July 24/2017 Varenna Variable Renewables Electricity Systems Integration: how to get
More informationEmission Performance Standards: Global Practice and Options for Europe
Emission Performance Standards: Global Practice and Options for Europe Richard Cowart Director, European Programmes European Parliament, November 19, 2014 The Regulatory Assistance Project rue de la Science
More informationCompetitive Markets 1
Competitive Markets 1 Why Regulation? Electric service has historically been considered a monopoly service The provision of electric service traditionally required huge investments in infrastructure Electricity
More informationOverview of PJM: Looking Back to Look Forward Tokyo Power Market Summit
Overview of PJM: Looking Back to Look Forward Tokyo Power Market Summit Craig Glazer Vice President, Federal Government Policy PJM Interconnection June, 2018 Topics 1. PJM Overview 2. Evolution of PJM
More informationUnlock new revenue. Flexitricity+ Energy Supply.
Unlock new revenue. Flexitricity+ Energy Supply. UNIQUE ENERGY SUPPLY CONTRACT WITH ACCESS TO THE BALANCING MECHANISM www.flexitricity.com 2 FLEXITRICITY.COM We re using our proven technical capability
More informationHeadline Germany - Experiences with implementing RES E auctions
Headline Germany - Experiences with implementing RES E auctions Dr. Aike Müller Federal Ministry for Economic Affairs an Energy, Division: Renewable Energy in the Electricity Sector (IIIB5) Overview Background
More informationPJM s Experience with the RPM Capacity Market
PJM s Experience with the RPM Capacity Market 2013 Austin Electricity Conference Panel 1: Are Capacity Market Necessary to Ensure Adequate Generating Reserve Paul M. Sotkiewicz, Ph.D. Chief Economist PJM
More informationGoverning for Demand Management Innovations in Germany. Dr Caroline Kuzemko Senior Research Fellow, IGov University of Exeter Ofgem, 17 th March 2016
Governing for Demand Management Innovations in Germany Dr Caroline Kuzemko Senior Research Fellow, IGov University of Exeter Ofgem, 17 th March 2016 Presentation in Sum This work part of the IGov project:
More informationUK Electricity Market Reform and the Energy Transition: Emerging Lessons
UK Electricity Market Reform and the Energy Transition: Emerging Lessons Michael Grubb Professor of International Energy and Climate Change Policy, UCL & Chair, UK Panel of Technical Experts, Electricity
More informationProspects for Hydro in the UK: Between a ROC and a Hard Place?
Prospects for Hydro in the UK: Between a ROC and a Hard Place? G.P. Harrison University of Edinburgh, United Kingdom ABSTRACT The Renewables Obligation has set challenging targets for renewable energy
More informationSecurity of supply with increasing volumes of intermittent energy sources
Security of supply with increasing volumes of intermittent energy sources 2-4-2012 Laurens de Vries Delft University of Technology Challenge the future 2-4-2012 Delft University of Technology Challenge
More informationFrom Restructuring to Decarbonization: Operational and Market-Design Challenges in New England
SEPTEMBER 25, 2018 WASHINGTON, DC From Restructuring to Decarbonization: Operational and Market-Design Challenges in New England USAEE/IAEE North American Conference Evolving Energy Realities Gordon van
More information