气候变化领域集成服务门户(CCPortal): Why the sustainable provision of low-carbon electricity needs hybrid markets

CCPortal

DOI	10.1016/j.enpol.2022.113273
	Why the sustainable provision of low-carbon electricity needs hybrid markets
	Keppler, Jan Horst; Quemin, Simon; Saguan, Marcelo
发表日期	2022
ISSN	0301-4215
EISSN	1873-6777
卷号	171 页码:12
英文摘要	Deep decarbonization of energy systems poses considerable challenges to electricity markets and there is a growing consensus that an energy-only design based on short-term marginal cost pricing cannot deliver adequate levels of investment and long-term coordination across actors and sectors. Based on the instructive example of the evolution of European electricity market designs, we discuss several shortcomings of energy-only markets and illustrate how ad-hoc policies that intend to address them have limitations of their own, notably a lack of systemwide coordination. Second, we describe how the sheer scale and nature of deep decarbonization targets requiring massive investment in capital-intensive low-carbon technologies exacerbate these issues. Ambitious emission reduction targets thus require an evolution of market design towards hybrid regimes. Hybrid markets separate long-term investment decisions from short-term operations through a balanced and differentiated use of competitive and regulatory design elements to coordinate and de-risk investment. Finally, a historical analysis of the evolution of different electricity market designs shows how hybrid markets constitute contemporary forms of long-run marginal cost pricing that are appropriate for meeting deep decarbonization targets with reduced uncertainty and hence lower private and social costs.
英文关键词	Electricity market; Deep decarbonization; Hybrid market design; Long-term contracts; Low -carbon investments
学科领域	Economics; Energy & Fuels; Environmental Sciences; Environmental Studies
语种	英语
WOS研究方向	Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology
WOS记录号	WOS:000868976300001
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/272356
作者单位	UDICE-French Research Universities; Universite PSL; Universite Paris-Dauphine; Electricite de France (EDF); Potsdam Institut fur Klimafolgenforschung; University of London; London School Economics & Political Science
推荐引用方式 GB/T 7714	Keppler, Jan Horst,Quemin, Simon,Saguan, Marcelo. Why the sustainable provision of low-carbon electricity needs hybrid markets[J],2022,171:12.
APA	Keppler, Jan Horst,Quemin, Simon,&Saguan, Marcelo.(2022).Why the sustainable provision of low-carbon electricity needs hybrid markets.ENERGY POLICY,171,12.
MLA	Keppler, Jan Horst,et al."Why the sustainable provision of low-carbon electricity needs hybrid markets".ENERGY POLICY 171(2022):12.