Assessing Security of Supply: Three Methods Used in Finland

Abstract Electric power sectors around the world have changed dramatically in the last 25 years as a result of sector liberalization policies. Many electricity sectors are now pursuing deep decarbonization goals which will entail replacing dispatchable fossil generation primarily with intermittent renewable generation (wind and solar) over the next 20–30 years. This transition creates new challenges for both short-term wholesale market design and investment incentives consistent with achieving both decarbonization commitments and security of supply criteria. Thinking broadly about the options for institutional change from a Williamsonian perspective – thinking like Williamson – provides a useful framework for examining institutional adaptation. Hybrid markets that combine ‘competition for the market’ that relies on competitive procurement for long-term purchased power agreements with wind, solar, and storage developers, ideally in a technology neutral fashion, and ‘competition in the market’ that relies on short-term markets designed to produce efficient and reliable operations of intermittent generation and storage, is identified as a promising direction for institutional adaptation. Many auction, contract, and market integration issues remain to be resolved.

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The energy trilemma in the policy design of the electricity market

DYNA ◽

10.15446/dyna.v82n194.48595 ◽

2015 ◽

Vol 82 (194) ◽

pp. 160-169 ◽

Cited By ~ 1

Author(s):

Carlos Jaime Franco Cardona ◽

Mónica Castañeda Riascos ◽

Alejandro Valencia Arias ◽

Jonathan Bermúdez Hernández

Keyword(s):

Energy Policy ◽

Electricity Markets ◽

Electricity Market ◽

Policy Design ◽

State Of The Art ◽

Economic Sustainability ◽

Security Of Supply ◽

Section 8 ◽

Market Competitiveness ◽

Environmental Goals

The energy "Trilemma" seeks to develop an electricity market which simultaneously ensures environmental quality, security of supply, and economic sustainability. The objective of this paper is to present the "Trilemma" energy as the latest trend in the design of energy policy. For this, a theoretical framework is presented in sections 2 and 3, in section 4 and 5 the importance of security of supply and economic sustainability are discussed, respectively. In section 6 the energy "trilemma" is presented, in section 7 a brief state of the art is showed. Finally in section 8, it is approached three different electricity markets. It is concluded that the regulator has passed in recent years from encouraging a liberalized market scheme, to promote a scheme based on intervention through policies that affect the market competitiveness but allow achieving its environmental goals.

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The use of renewable resources is an opportunity and an obligation

Acta Agraria Debreceniensis ◽

10.34101/actaagrar/55/1902 ◽

2014 ◽

pp. 13-17

Author(s):

Zoltán Balla

Keyword(s):

Solar Wind ◽

Renewable Energy ◽

Renewable Resources ◽

Energy Production ◽

Fossil Fuels ◽

Renewable Energy Sources ◽

Energy Sources ◽

Rational Utilization ◽

Security Of Supply ◽

Harmful Substances

The renewable energy sources could be used in energy production, while no or only very slightly emit harmful substances to the environment. The solar, wind, hydropower, biomass and heat rational utilization of land contributes to greenhouse gas emissions.Renewable energy sources also reduces the dependence on fossil fuels, thus contributing to increase security of supply. The creation of local jobs to strengthen the area's population retaining ability.

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