气候变化领域集成服务门户(CCPortal): Exploring investment potential in a context of nuclear phase-out uncertainty: Perfect vs. imperfect electricity markets

CCPortal

DOI	10.1016/j.enpol.2020.111640
	Exploring investment potential in a context of nuclear phase-out uncertainty: Perfect vs. imperfect electricity markets
	de Frutos Cachorro J.; Willeghems G.; Buysse J.
发表日期	2020
ISSN	03014215
卷号	144
英文摘要	In view of the ongoing nuclear power debate in Europe, we analyze how uncertainty about a nuclear phase-out affects investment capacity decisions by Belgian electricity suppliers depending on the type of market structure considered. To achieve this goal, we build a structural model and solve it by using game-theoretic and optimization approaches, in order to consider the different types of market structure, namely oligopoly (simplified to a duopoly in this case), and the two extremes of the competition spectrum, i.e., monopoly and perfect competition. We show that higher levels of investment in new electricity generation capacity are reached with decreasing probability of nuclear license extension and/or with higher levels of competition in the market. Moreover, investments in perfectly competitive markets are less influenced by changes in the probability of future nuclear license extension, resulting in a more stable long-term investment climate. However, the consideration of possible changes in market structure and gradual nuclear phase-out is crucial in order to not overestimate investment potential in Belgium. © 2020 Elsevier Ltd
关键词	Electricity markets Generation capacity investments Level of market competition Nuclear phase-out uncertainty
英文关键词	Competition; Game theory; Nuclear fuels; Nuclear reactor licensing; Power markets; Uncertainty analysis; Capacity decisions; Competitive markets; Electricity generation capacity; License extension; Long-term investment; Optimization approach; Perfect competition; Structural modeling; Investments; competition (economics); electricity generation; electricity supply; energy market; game theory; investment; nuclear power; oligopoly; optimization; uncertainty analysis; Belgium
语种	英语
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/204623
作者单位	Departament de Matemàtica Econòmica, Financera i Actuarial and BEAT, Universitat de Barcelona, Avinguda Diagonal 690, Barcelona, 08034, Spain; EnergyVille, ThorPark 8310, Genk, 3600, Belgium; VITO, Boeretang 200, Mol, 2400, Belgium; Department of Agricultural Economics, Faculty of Bioscience Engineering, Ghent University, Coupure Links 653, Ghent, 9000, Belgium
推荐引用方式 GB/T 7714	de Frutos Cachorro J.,Willeghems G.,Buysse J.. Exploring investment potential in a context of nuclear phase-out uncertainty: Perfect vs. imperfect electricity markets[J],2020,144.
APA	de Frutos Cachorro J.,Willeghems G.,&Buysse J..(2020).Exploring investment potential in a context of nuclear phase-out uncertainty: Perfect vs. imperfect electricity markets.Energy Policy,144.
MLA	de Frutos Cachorro J.,et al."Exploring investment potential in a context of nuclear phase-out uncertainty: Perfect vs. imperfect electricity markets".Energy Policy 144(2020).