气候变化领域集成服务门户(CCPortal): The impact of the generation mix on the current regulatory framework for hydropower remuneration in Brazil

CCPortal

DOI	10.1016/j.enpol.2019.111129
	The impact of the generation mix on the current regulatory framework for hydropower remuneration in Brazil
	Machado B.G.F.; Bhagwat P.C.
发表日期	2020
ISSN	0301-4215
卷号	137
英文摘要	The impact of the generation mix on the two ongoing regulatory frameworks for hydropower remuneration in Brazil is analysed. In the first, Energy Allocation Mechanism (EAM), individual operational risks are mitigated by a risk-sharing principle within a hydro pool structure. The second, Insurance Call Option Obligation (ICO), is an insurance approach which enables the hydro generators to transfer their risks to the consumers. The frameworks are assessed for three long-term scenarios, with a varying share of non-hydro renewables and thermal sources in the generation mix, using a Stochastic Dual Dynamic Programming (SDDP) approach. The results indicate that the generation mix may considerably influence EAM performance and hydropower economic feasibility. An increase in base-load and peak-load thermal generation influences EAM performance negatively, while the penetration of RES does not yield significant impacts if its expansion is met by equivalent increment in load. The ICO approach drives significant transfer of wealth from consumers to generators, which can be addressed by adapting the insurance premium setting criteria, as presented in this study. Finally, ICO design may lead to an overall improvement in the market level welfare, when compared to the EAM, if a criterion of equivalence is set as a preferable design goal. © 2019 Elsevier Ltd
英文关键词	Brazil; Call option obligation; Hydropower; Risk assessment; Stochastic optimisation
语种	英语
scopus关键词	Dynamic programming; Hydroelectric generators; Hydroelectric power; Insurance; Risk management; Stochastic systems; Brazil; Call option obligation; Economic feasibilities; Hydropower; Non-hydro renewables; Regulatory frameworks; Stochastic dual dynamic programming; Stochastic optimisation; Risk assessment; hydroelectric power; optimization; regulatory framework; risk assessment; stochasticity; Brazil
来源期刊	Energy policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/124906
作者单位	Brazilian Electricity Regulatory Agency, SGAN 603 Módulos I e J, Brasília, DF, Brazil; Florence School of Regulation, RSCAS, European University Institute, Via Boccaccio 121, Florence, Italy
推荐引用方式 GB/T 7714	Machado B.G.F.,Bhagwat P.C.. The impact of the generation mix on the current regulatory framework for hydropower remuneration in Brazil[J],2020,137.
APA	Machado B.G.F.,&Bhagwat P.C..(2020).The impact of the generation mix on the current regulatory framework for hydropower remuneration in Brazil.Energy policy,137.
MLA	Machado B.G.F.,et al."The impact of the generation mix on the current regulatory framework for hydropower remuneration in Brazil".Energy policy 137(2020).