What Electricity Market Design for 2030 and beyond?
This event will present and discuss the results and policy recommendations of our new research project ‘What Electricity Market Design for 2030 and beyond?’.
This new report, led by CERRE Joint Academic Director Prof. Michael G. Pollitt (Judge Business School, Cambridge) analyses how well today’s electricity market is working as the rollout of renewable energy sources (RES) continues to expand.
It looks at the potential regulatory adaptions towards 2025-30 that may be needed and possible. It also evaluates whether there will be a tipping point for the market: could the RES penetration be so high that it creates the need for a more radical market redesign?
*Reserve your seat now via the registration tab*
Europe has made significant progress in the creation of a single electricity market. Successive electricity directives have significantly shifted the electricity supply sector from national monopolies towards a European market dominated by competing pan-European companies. Vertical separation of generation, transmission, distribution and retailing were introduced and horizontal competition in generation and retailing promoted. Wholesale and retail electricity prices have moved in line with fossil fuel prices which were the dominant component of wholesale electricity costs.
Renewable electricity directives have complemented the EU’s climate change efforts and significantly influenced investment in electricity generation. Since 2002, there has been a significant rise in the share of renewable energy resources in Europe and by 2017 almost all new investment in electricity generation had taken the form of RES. Ambitious climate and renewables targets would imply a further increase in the share of RES in electricity production.
RES are characterised by high fixed costs incurred up front and stable annual running costs. The short-run marginal cost of electricity produced from intermittent renewables such as solar PV and onshore wind turbines is virtually zero. Intermittent RES also impose challenges regarding efficient matching of supply to demand in real time, suggesting the need for active demand side management and energy storage. In addition, substantial network investments will be needed to support both supply and demand matching for the increasingly distributed RES generation.
Will these developments trigger a more radical electricity market redesign?
Come and join key actors from the sector including industry, regulators as well as representatives from the EU institutions to discuss the findings of this new research ‘What Electricity Market Design for 2030 and beyond?’.
*The number of seats at this Executive Seminar is limited. Please submit your registration request, and if confirmed you will receive an email with more details at a later stage.
Programme soon available*
Monday 10 December 2018, 14.00-17.00,
University Foundation, 11 Rue d'Egmont, 1000 Brussels
CERRE members and nominated guests receive priority when registering. All other registrations are provisional until confirmed by email by CERRE. If you have any questions about your registration, or do not receive a confirmation email, please contact firstname.lastname@example.org