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Modeling generation expansion in the context of a security of supply mechanism based on long-term auctions. Application to the Colombian case

P. Rodilla, C. Batlle, J. Salazar, J.J. Sánchez

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 Número: 1 Páginas: 176-186

Índice de impacto JCR y cuartil WoS: 2.723 - Q1 (2011); 4.880 - Q1 (2018)

Referencia DOI: DOI icon 10.1016/j.enpol.2010.09.027    

Publicado en papel: Enero 2011. Publicado on-line: Octubre 2010.



Cita:
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]


    Líneas de investigación:
  • *Diseño y regulación de mercados energéticos

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