Abstract

This paper explains why current electricity markets are not fit for purpose and propose a new market design. Electricity markets operating today were designed for the technical and economic conditions of the 1990's. These conditions have changed substantially, especially with increased [...]

Abstract

This paper explains why current electricity markets are not fit for purpose and proposes a new consumer-driven two-market design to support very high penetrations of intermittent renewable energy. The structure encourages demand flexibility; enables consumers to choose what mix [...]