Fostering Renewable Electricity Markets in North America

2007 ◽  
Author(s):  
Meredith Windgate ◽  
Jan Hamrin ◽  
Claudio Alatorre
Keyword(s):  
North America ◽  
Electricity Markets ◽  
Renewable Electricity

scholarly journals Hourly modelling of Thermal Hydrogen electricity markets

Clean Energy ◽  
2020 ◽  
Vol 4 (3) ◽  
pp. 270-287
Author(s):  
Jared Moore ◽  
Noah Meeks
Keyword(s):  
Electricity Markets ◽  
Power Plants ◽  
Hybrid Electric Vehicles ◽  
Renewable Electricity ◽  
Electricity Prices ◽  
Heating Systems ◽  
Electric Transmission ◽  
Capacity Markets ◽  
Key Technologies ◽  
Transmission And Distribution

Abstract The hourly operation of Thermal Hydrogen electricity markets is modelled. The economic values for all applicable chemical commodities are quantified (syngas, ammonia, methanol and oxygen) and an hourly electricity model is constructed to mimic the dispatch of key technologies: bi-directional power plants, dual-fuel heating systems and plug-in fuel-cell hybrid electric vehicles. The operation of key technologies determines hourly electricity prices and an optimization model adjusts the capacity to minimize electricity prices yet allow all generators to recover costs. We examine 12 cost scenarios for renewables, nuclear and natural gas; the results demonstrate emissions-free, ‘energy-only’ electricity markets whose supply is largely dominated by renewables. The economic outcome is made possible in part by seizing the full supply-chain value from electrolysis (both hydrogen and oxygen), which allows an increased willingness to pay for (renewable) electricity. The wholesale electricity prices average $25–$45/MWh, or just slightly higher than the assumed levelized cost of renewable energy. This implies very competitive electricity prices, particularly given the lack of need for ‘scarcity’ pricing, capacity markets, dedicated electricity storage or underutilized electric transmission and distribution capacity.

scholarly journals Towards a Blockchain Contract-for-Difference Financial Instrument for Hedging Renewable Electricity Transactions

2020 ◽  
Author(s):  
Olakunle Alao ◽  
Paul Cuffe
Keyword(s):  
Electricity Markets ◽  
Cost Effective ◽  
Third Party ◽  
Financial Instruments ◽  
Renewable Electricity ◽  
Financial Instrument ◽  
Smart Contract ◽  
Expected Performance

Contract-for-Difference financial instruments are available to renewable electricity generators in day-ahead electricity markets to allow them to hedge against revenue risk. Traditional CfDs while designed to hedge revenue risk, introduce other new risks such as counterparty credit, margining and third-party risks. We therefore propose a novel financial instrument - an Ethereum blockchain-based dual escrow smart contract, to serve as the mediator in a CfD agreement between a renewable electricity generator and supplier. This financial instrument addresses hedging related risks that result from traditional CfD agreements in day-ahead electricity markets. In this paper, we design the logic of the financial instrument, translate this logic to smart contract codes and demonstrate its expected performance. Overall, the proposed financial instrument has the benefits of reducing hedging related risks inherent in traditional CfDs. Likewise, it enables secure, efficient, cost-effective, consistent, reliable, transparent and frictionless transactions between contracting parties in a CfD agreement.<br>

Intermediaries and the Governance of Choice: The Case of Green Electricity Labelling

2009 ◽  
Vol 41 (8) ◽  
pp. 2014-2028 ◽  
Author(s):  
Harald Rohracher
Keyword(s):  
Electricity Markets ◽  
Vital Role ◽  
Boundary Object ◽  
Private Governance ◽  
Renewable Electricity ◽  
Green Electricity ◽  
Building Trust ◽  
Regulatory Systems ◽  
Market Driven ◽  
Intermediary Organisations

This paper is about the reframing of electricity markets as a strategically oriented nonstate governance activity of intermediary organisations. In particular, it is centred on the establishment of ‘green’ electricity labels by environmental and other nongovernmental organisations (NGOs) as an attempt to establish and shape a market for green electricity. Such labels serve as a ‘boundary object’ between electricity generators, suppliers, consumers, and regulators, and are analysed as the creation of new sociotechnical arrangements around green electricity generation and use. The analysis also shows that private governance initiatives of this kind are highly interdependent with state regulatory systems. NGOs have played a vital role in defining and negotiating such standards, enrolling and aligning supply-side and demand-side actors, communicating with a wider public and building trust for the respective products, establishing links with regulators, and shaping policies for renewable electricity at national and European levels. The cases of electricity labelling investigated are an example of new political strategies of civil society intermediary organisations in an increasingly market-driven environment.

scholarly journals Towards a Blockchain Contract-for-Difference Financial Instrument for Hedging Renewable Electricity Transactions

2020 ◽  
Author(s):  
Olakunle Alao ◽  
Paul Cuffe
Keyword(s):  
Electricity Markets ◽  
Cost Effective ◽  
Third Party ◽  
Financial Instruments ◽  
Renewable Electricity ◽  
Financial Instrument ◽  
Smart Contract ◽  
Expected Performance

Contract-for-Difference financial instruments are available to renewable electricity generators in day-ahead electricity markets to allow them to hedge against revenue risk. Traditional CfDs while designed to hedge revenue risk, introduce other new risks such as counterparty credit, margining and third-party risks. We therefore propose a novel financial instrument - an Ethereum blockchain-based dual escrow smart contract, to serve as the mediator in a CfD agreement between a renewable electricity generator and supplier. This financial instrument addresses hedging related risks that result from traditional CfD agreements in day-ahead electricity markets. In this paper, we design the logic of the financial instrument, translate this logic to smart contract codes and demonstrate its expected performance. Overall, the proposed financial instrument has the benefits of reducing hedging related risks inherent in traditional CfDs. Likewise, it enables secure, efficient, cost-effective, consistent, reliable, transparent and frictionless transactions between contracting parties in a CfD agreement.<br>

scholarly journals Towards a Blockchain Contract-for-Difference Financial Instrument for Hedging Renewable Electricity Transactions.pdf

2020 ◽  
Author(s):  
Olakunle Alao ◽  
Paul Cuffe
Keyword(s):  
Electricity Markets ◽  
Cost Effective ◽  
Third Party ◽  
Financial Instruments ◽  
Renewable Electricity ◽  
Financial Instrument ◽  
Smart Contract ◽  
Expected Performance

Contract-for-Difference financial instruments are available to renewable electricity generators in day-ahead electricity markets to allow them to hedge against revenue risk. Traditional CfDs while designed to hedge revenue risk, introduce other new risks such as counterparty credit, margining and third-party risks. We therefore propose a novel financial instrument - an Ethereum blockchain-based dual escrow smart contract, to serve as the mediator in a CfD agreement between a renewable electricity generator and supplier. This financial instrument addresses hedging related risks that result from traditional CfD agreements in day-ahead electricity markets. In this paper, we design the logic of the financial instrument, translate this logic to smart contract codes and demonstrate its expected performance. Overall, the proposed financial instrument has the benefits of reducing hedging related risks inherent in traditional CfDs. Likewise, it enables secure, efficient, cost-effective, consistent, reliable, transparent and frictionless transactions between contracting parties in a CfD agreement.<br>

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