E3S Web Conf.
Volume 114, 2019International Conference of Young Scientists “Energy Systems Research 2019”
|Number of page(s)||8|
|Section||Development and Operation of Energy Systems|
|Published online||04 September 2019|
Analysis of pricing mechanisms efficiency for modernization of thermal generationa
Energy Research Institute of RAS, Nagornaya str., 31 (2), Moscow, Russia
The article deals with pricing and investment consequences of using alternative ways to stimulate investment in thermal power plants (TPP) modernization. Calculations made with the use of our simulation-based financial model show that “pure” market mechanisms (such as the spot market and capacity market with marginal pricing) are not efficient enough in terms of keeping balance between robust investment signals and electricity prices produced. In this light, a flexible regulation of capacity market “price cap” is recommended, which should be derived from the assessment of the necessary revenue for operation and investment activity of thermal generation.
© The Authors, published by EDP Sciences, 2019
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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