In an attempt to provide electricity generation investors with appropriate economic incentives so as to maintain quality of supply at socially optimal levels, a growing number of electricity market regulators have opted for implementing a security of supply mechanism based on long-term auctions. In this context, the ability to analyze long-term investment dynamics is a key issue not only for market agents, but also for regulators. This paper describes a model developed to serve this purpose. A general system-dynamics-inspired methodology has been designed to be able to simulate these long-term auction mechanisms in the formats presently in place. A full-scale simulation based on the Colombian system was conducted to illustrate model capabilities.
Palabras clave: Security ofsupply; Long-term auctions; Electricity marketmodeling
Energy Policy. Volumen: 39 Numero: 1 Páginas: 176-186
Índice de impacto JCR y cuartil Scopus: JCR impact factor: 2.723 (2011); 4.880 (2018).
Referencia DOI: 10.1016/j.enpol.2010.09.027
Publicado en papel: Enero 2011. Publicado on-line: Octubre 2010.
P. Rodilla, C. Batlle, J. Salazar, J.J. Sánchez. Modeling generation expansion in the context of a security of supply mechanism based on long-term auctions. Application to the Colombian case. Energy Policy. vol. 39, no. 1, pp. 176-186, Enero 2011. [Online: Octubre 2010]