相关论文: De-risking renewable energy investments: Assessing…

Weather, technological and regulatory uncertainties expose actors in highly renewable electricity markets to substantial price and volume risks. Two-way Contracts for Difference (CfDs) can mitigate these risks. They stipulate payments…

Cost optimal scenarios derived from models of a highly renewable electricity system depend on the specific input data, cost assumptions and system constraints. Here this influence is studied using a techno-economic optimisation model for a…

Offshore wind energy is rapidly expanding, facilitated largely through auctions run by governments. We provide a detailed quantified overview of applied auction schemes, including geographical spread, volumes, results, and design…

Contracts for Difference (CfDs) are forwards on the spread between an area price and the system price. Together with the system price forwards, these products are used to hedge the area price risk in the Nordic electricity market. The CfDs…

The increasing penetration of renewable energy poses significant challenges to power grid reliability. There have been increasing interests in utilizing financial tools, such as insurance, to help end-users hedge the potential risk of lost…

Long-duration energy storage (LDES) faces significant revenue volatility that impedes investment. This paper evaluates four contract-based support mechanisms using an equilibrium model with risk-averse investors and incomplete risk markets.…

Integrating renewable energy production into the electricity grid is an important policy goal to address climate change. However, such an integration faces economic and technological challenges. As power generation by renewable sources…

The interplay between risk aversion and financial derivatives has received increasing attention since the advent of electricity market liberalization. One important challenge in this context is how to develop economically efficient and…

Mobilising private capital is a critical bottleneck of the energy transition, yet recent crisis-driven windfall profits for fossil power firms suggest that market signals may still favour carbon-intensive assets. Here we analyse a panel of…

As variable renewable energy increases and more demand is electrified, we expect price formation in wholesale electricity markets to transition from being dominated by fossil fuel generators to being dominated by the opportunity costs of…

Offshore wind farms (OWFs) are set to significantly contribute to global decarbonization efforts. Developers often use a sequential approach to optimize design variables and market participation for grid-integrated offshore wind farms.…

We propose a multi-factor polynomial framework to model and hedge long-term electricity contracts with delivery period. This framework has several advantages: the computation of forwards, risk premium and correlation between different…

We consider the construction of renewable portfolios targeting specified carbon-free (CFE) hourly performance scores. We work in a probabilistic framework that uses a collection of simulation scenarios and imposes probability constraints on…

Many governments are considering constructing new nuclear power plants to support the decarbonization of the energy system. On the one hand, dispatchable nuclear plants can complement fluctuating generation from wind and PV. On the other…

Previous work has resulted in the development of an energy model able to calculate wind and solar fleet efficiencies. However, for investment planning purposes, it is necessary to calculate from the lowest economically acceptable…

In this paper, we propose a high-level Stochastic steady-state model to analyze the value of co-located energy storage systems for wind power producers that participate in an electricity market through Forward or Day Ahead contracts. In…

To reach ambitious European CO$_2$ emission reduction targets, most scenarios of future European electricity systems rely on large shares of wind and solar photovoltaic power generation. We interpolate between two concepts for balancing the…

In this paper, we explore centralized and more decentral approaches to succeed the energiewende in Germany, in the European context. We use the AnyMOD framework to model a future renewable-based European energy system, based on a…

The output of renewable energy fluctuates significantly depending on weather conditions. We develop a unit commitment model to analyze requirements of the forecast output and its error for renewable energies. Our model obtains the time…

During the life of a wind farm, various types of costs arise. A large share of the operational cost for a wind farm is due to maintenance of the wind turbine equipment; these costs are especially pronounced for offshore wind farms and…