Integrating renewable energy sources into electricity markets: Power system operation, resource adequacy and market design

Umberto Monarca, Ernesto Cassetta, Alessandro Sarra and Cesare Pozzi

ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, 2015, vol. 2015/2, issue 2, 149-166

Abstract: Focusing on the Italian power system, the article examines how the national regulatory framework has been modified to effectively accommodate and further increase the share of renewable energy in the energy mix while preserving system reliability. This paper argues that operational changes and regulatory measures adopted so far, which are mainly directed to create a level playing field between different energy sources, constitute a short-term response, and thus of limited effectiveness while increasing cost for consumers. To intensify the de-carbonization process of the Italian power system a more fundamental revision of the current market design is required. In this view, an essential ingredient is the future expansion of the electricity grid starting from a clear recognition of energy mix that we intend to reach in the mid/long term.

JEL-codes: L52 L94 L98 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (7)

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