Abstract
Electricity markets are systems for affecting the purchase and sale of energy. Most existing markets are built on well-established principles of competition and transparency. However, their designs are based on centralized power plants with a small participation of end-use customers. During the past years, the share of electricity produced by renewable sources increased significantly. This paper analyses the structure and operation of two European markets and two American markets. The analysis highlights that the design, rules and characteristics of most markets are still not completely adapted to power systems with high levels of variable renewable energy. Accordingly, the paper proposes some recommendations to foster the integration of renewable generation.
This work was supported by “Fundação para a Ciência e Tecnologia” with references UID/CEC/50021/2019 and PD/BD/105863/2014 (H. Algarvio).
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Change history
01 May 2019
The original version of this chapter starting on p. 321 was revised. The year mentioned in the funding information was incorrect. The original chapter has been corrected.
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Algarvio, H., Lopes, F., Santana, J. (2019). Integration of Renewable Energy in Markets: Analysis of Key European and American Electricity Markets. In: Camarinha-Matos, L., Almeida, R., Oliveira, J. (eds) Technological Innovation for Industry and Service Systems. DoCEIS 2019. IFIP Advances in Information and Communication Technology, vol 553. Springer, Cham. https://doi.org/10.1007/978-3-030-17771-3_28
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DOI: https://doi.org/10.1007/978-3-030-17771-3_28
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