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The Generation Mix, Price Caps and Capacity Markets

Bert Willems

出版	SSRN, 2014
URL	http://books.google.com.hk/books?id=82ImzwEACAAJ&hl=&source=gbs_api

註釋

This paper derives the optimal mix of generation technologies in the electricity sector and discusses how this mix will be achieved in a perfectly competitive electricity market. It then studies the detrimental effect of a price cap on short-term profitability and long-run investment incentives of producers, and shows how a technology-neutral capacity mechanism can restore the efficient generation mix. Intermittent wind production or active consumer participation do not fundamentally affect this analysis.