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SUMMARY:Price Dynamics and Capacity Mechanisms in a Fully Renewable Power System: A Model-based Stochastic Analysis
DESCRIPTION:12.00 - 13.00 cet. // This work presents a multi-stage stochastic optimization model to analyze price dynamics and reliability of supply in a 100% renewable power system. The stochastic framework captures uncertainty arising from the intermittency of weather-dependent renewable energy sources and compares three market design options for a future fully renewable German electricity market: an energy-only market without capacity reserve, an energy-only market with a capacity reserve, and a centralized capacity market with overprocurement of dispatchable capacity. The results indicate that all market design options ensure a sufficiently reliable power supply. In comparison, an oversized capacity market reduces price volatility but leads to a relatively small increase in system costs. While all options perform similarly from an efficiency perspective, the choice of mechanism has important implications from a distributional perspective. 
DTSTART:20260319T110000Z
DTEND:20260319T120000Z
DTSTAMP:20260316T230000Z
URL:https://www.diw.de/en/diw_01.c.1003024.en/events/price_dynamics_and_capacity_mechanisms_in_a_fully_renewable_power_system__a_model-based_stochastic_analysis.html
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