Forward contracts in electricity markets and capacity investment: A simulation study

被引：5

作者：

Alvarez-Uribe, Karla C. ^{[1
]}

Arango-Aramburo, Santiago ^{[2
]}

Larsen, Erik R. ^{[3
]}

机构：

[1] Inst Tecnol Metropolitano, Dept Prod Engn, Medellin, Colombia

[2] Univ Nacl Colombia, Fac Minas, Decis Sci Grp, Carrera 80 65-223,Bloque M8a, Medellin, Colombia

[3] Aarhus Univ, Dept Management, Fuglesangs Alle 4, DK-8219 Aarhus V, Denmark

来源：

UTILITIES POLICY | 2018年 / 54卷

关键词：

Electricity markets; Coumot markets; Cobweb model; Forward markets; Complexity; RATIONAL-EXPECTATIONS; FUTURES MARKETS; POWER MARKETS; COMPETITION; BEHAVIOR; STABILITY; DYNAMICS; ENGLAND; PRICES; CYCLES;

D O I：

10.1016/j.jup.2018.07.003

中图分类号：

TE [石油、天然气工业]; TK [能源与动力工程];

学科分类号：

0807 ; 0820 ;

摘要：

This simulation study analyzes the effect of the introduction of forward markets to mitigate cyclical price behavior in electricity markets from a dynamic extended Cobweb model. We pay particular attention to the effect of lags in investment decisions and the effect of not fully replacing retired capacity in electricity markets. In line with previous research, the introduction of forward markets decreases price variability in comparison to a spot market. However, we also observe that lags in investment decisions and the failure to fully replace retired capacity create capacity investments cycles even in the presence a forward market.

引用

页码：1 / 10

页数：10

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