In this paper, we discuss the implementation of Capacity Remuneration Mechanisms (CRM) in the European Union (EU). We first illustrate that the costs of CRMs in the EU are significantly lower than in the US. Next, we discuss how the Clean Energy Package (CEP) intends to limit the future role of CRMs. Two steps are introduced to check if CRMs are really needed: a European resource adequacy assessment and a national implementation plan to improve current electricity market design. In case residual adequacy concerns persist, the CEP also includes provisions to guide the design of a CRM. Last, we discuss the role of the consumer in securing resource adequacy in the future.
Investment has always been a challenge in the network industries. Since the 1990s liberalisation has exacerbated this challenge, owing to the different time horizons between the interests of the private [...]
• Energy system integration (ESI) is the process of coordinating the planning and operation of the energy system as a whole, addressing different sectors, their markets and infrastructure as interconnected [...]
This report was prepared to inform the Carbon Market Policy Dialogue (CMPD) between the European Commission, as the regulator of the EU Emissions Trading System, and the regulatory authorities for [...]
Additionality is a key requirement for the renewables based electricity to be used by electrolysers to produce renewable hydrogen. Additionality could be defined as the requirement that renewables-based electricity used [...]
China has always upheld multilateralism and has advocated the use of multilateral mechanisms to jointly address global climate change issues. This paper discusses what China does and why, and how [...]
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