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Electricity market auction settings in a future Danish electricity system with a high penetration of renewable energy sources – A comparison of marginal pricing and pay-as-bid

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  • Nielsen, Steffen
  • Sorknæs, Peter
  • Østergaard, Poul Alberg

Abstract

The long-term goal for Danish energy policy is to be free of fossil fuels through the increasing use of renewable energy sources (RES) including fluctuating renewable electricity (FRE).

Suggested Citation

  • Nielsen, Steffen & Sorknæs, Peter & Østergaard, Poul Alberg, 2011. "Electricity market auction settings in a future Danish electricity system with a high penetration of renewable energy sources – A comparison of marginal pricing and pay-as-bid," Energy, Elsevier, vol. 36(7), pages 4434-4444.
    • Handle: RePEc:eee:energy:v:36:y:2011:i:7:p:4434-4444
    DOI: 10.1016/j.energy.2011.03.079
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    References listed on IDEAS

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    1. Münster, Marie & Lund, Henrik, 2009. "Use of waste for heat, electricity and transport—Challenges when performing energy system analysis," Energy, Elsevier, vol. 34(5), pages 636-644.
    2. Lund, H & Münster, E, 2003. "Modelling of energy systems with a high percentage of CHP and wind power," Renewable Energy, Elsevier, vol. 28(14), pages 2179-2193.
    3. Vázquez, Carlos & Rivier, Michel & Pérez-Arriaga, Ignacio J., 2001. "If Pay-as-Bid Auctions Are Not a Solution for California, then Why Not a Reliability Market?," The Electricity Journal, Elsevier, vol. 14(4), pages 41-48, May.
    4. Connolly, D. & Lund, H. & Mathiesen, B.V. & Leahy, M., 2011. "The first step towards a 100% renewable energy-system for Ireland," Applied Energy, Elsevier, vol. 88(2), pages 502-507, February.
    5. Paul Klemperer, 2004. "Auctions: Theory and Practice," Online economics textbooks, SUNY-Oswego, Department of Economics, number auction1.
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