Motivation
Security of electricity supply has re-emerged as a key concern in energy policy and research. The transition of energy systems towards decarbonisation is accompanied by increasing dependence on variable renewable energy sources and declining shares of controllable generation. In parallel, geopolitical uncertainties have increased and refocused attention on how societies value a...
Motivation
In the European electricity market, which is fundamentally designed as an energy-only market (EOM) and structured into bidding zones, scarcity prices of sufficient magnitude and frequency are main drivers of investments in additional generation capacity or flexibility. Whether these price peaks and the associated revenues are sufficient to enable the (re-)financing of assets...
