There has been total unanimity about the vital importance of reliability of supply since the beginning of the electricity sector deregulation process. This paper describes the procedure proposed by Pérez-Arriaga et al. [2005. White paper for the reform of the regulatory scheme of the power generation in Spain. For the Ministry of Industry, Tourism and Trade of Spain (in Spanish)] to improve upon the current scheme to guarantee a reasonable reserve margin, the capacity payment mechanism. This alternative design introduces improvements aimed at guaranteeing at least a minimum capacity reserve margin, as well as at providing a strong incentive for generating units to be available when needed, namely, in situations when supply is likely to be insufficient to meet the total demand.
Palabras Clave: Electricity restructuring; Electricity markets regulation; Security of supply
Índice de impacto JCR y cuartil WoS: 1.901 (2007); 5.042 - Q1 (2019)
Referencia DOI: 10.1016/j.enpol.2007.04.002
Publicado en papel: Septiembre 2007.
C. Batlle, C. Vázquez, M. Rivier, I.J. Pérez-Arriaga. Enhancing power supply adequacy in Spain: Migrating from capacity payments to reliability options. Energy Policy. Vol. 35, nº. 9, pp. 4545 - 4554 Septiembre 2007.