The feasibility of the energy-only market in a highly renewable European power system

The feasibility of the energy-only market in a highly renewable European power system

Hollebrandse, Julian (TU Delft Technology, Policy and Management)

Weijnen, M.P.C. (mentor)
De Vries, Laurens (mentor)
Auping, W.L. (mentor)
van der Veen, W. (mentor)

Delft University of Technology

Complex Systems Engineering and Management (CoSEM)

2018-01-08

The Netherlands policy on electricity steers towards a carbon neutral power generation in 2050. Among
the studies that focus on long term power system research, none use the starting point of a 100%
renewable power system in 2050. It is unknown if such a system is technically feasible given the
variability of wind and solar. The generation patterns of intermittent renewables differ continuously,
causing the remaining power sources in the system to mitigate the variable IRES generation.
Additionally, it is also unknown to what extent the energy only market can incentivise investment. By
using the PLEXOS electricity market model, the dispatch of CO2 low generation portfolios and the
market prices and net profits of generators can be determined in various scenarios. These scenarios vary
on demand changes, capacity factors for wind and solar and primary fuel prices. The results show a great
sensitivity of an energy only market under the combination of a demand growth and a meteorological
year of low capacity factors, resulting in blackouts and high wholesale market prices. Storage and
intermittent renewables, however, do not benefit enough from a scenario with a high annual market price.

electricity market
energy only
Optimization
renewable energy sources
investment
merit order
intermittency
dispatch

http://resolver.tudelft.nl/uuid:58e639f7-ea6a-4e89-baf8-0bfa64c9a7f4

Student theses

master thesis

© 2018 Julian Hollebrandse