Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2017.10.008 |
The impact of investors' risk aversion on the performances of capacity remuneration mechanisms | |
Abani, Ahmed Ousman1,2; Hary, Nicolas1,2; Rious, Vincent3; Saguan, Marcelo3 | |
2018 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2018 |
卷号 | 112页码:84-97 |
文章类型 | Article |
语种 | 英语 |
国家 | France; Italy |
英文摘要 | This paper analyses the impact of risk aversion on the performances of capacity remuneration mechanisms, with investors facing an uncertain peak load. Three market designs are studied for this purpose: a competitive energy only market, a capacity market and a strategic reserve mechanism. A simulation model based on system dynamics is developed in order to represent investment decisions and analyse the behaviour of each market design. Risk aversion is modelled through the computation of Conditional Value at Risk. The results are discussed in terms of impact on the reliability (ability to limit shortages) and cost (total generation costs) of the studied market designs. When comparing the three market designs, the capacity market seems to be the least affected by the introduction of risk aversion, both in terms of cost and reliability. This result suggests that implementing a capacity market is preferable in order to deal with the adverse effects of risk aversion, given the simulations and parameters that were used. |
英文关键词 | Capacity remuneration mechanisms Generation adequacy Investment decisions Risk aversion System dynamics |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000416615800011 |
WOS关键词 | ELECTRICITY-GENERATION ; ENERGY TRANSITION ; MARKETS ; POWER ; INVESTMENT ; ADEQUACY ; UNCERTAINTY ; SYSTEMS |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/18309 |
专题 | 气候变化 |
作者单位 | 1.PSL Res Univ, CERNA Ctr Ind Econ, MINES ParisTech, 60 Blvd St Michel, F-75006 Paris, France; 2.Deloitte France, 185 Ave Charles de Gaulle, F-92200 Neuilly Sur Seine, France; 3.European Univ Inst, Robert Schuman Ctr Adv Studies, Florence Sch Regulat, Via Fontanelle 19, I-50014 Florence, Italy |
推荐引用方式 GB/T 7714 | Abani, Ahmed Ousman,Hary, Nicolas,Rious, Vincent,et al. The impact of investors' risk aversion on the performances of capacity remuneration mechanisms[J]. ENERGY POLICY,2018,112:84-97. |
APA | Abani, Ahmed Ousman,Hary, Nicolas,Rious, Vincent,&Saguan, Marcelo.(2018).The impact of investors' risk aversion on the performances of capacity remuneration mechanisms.ENERGY POLICY,112,84-97. |
MLA | Abani, Ahmed Ousman,et al."The impact of investors' risk aversion on the performances of capacity remuneration mechanisms".ENERGY POLICY 112(2018):84-97. |
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