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Investments in a Combined Energy Network Model: Substitution between Natural Gas and Electricity?

Jan Abrell and Hannes Weigt

Year: 2016
Volume: Volume 37
Number: Number 4
DOI: 10.5547/01956574.37.4.jabr
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Abstract:
Natural gas plays an important role in the future development of electricity markets, as it is the least emission-intensive fossil generation option and additionally provides the needed plant operating flexibility to deal with intermittent renewable generation. As both the electricity and the natural gas market rely on networks, congestion in one market may lead to changes in the other. In addition, investment in one market impacts investment in the other market to the extent that these investments may even become substitutes for each another. The objective of this paper is to develop a dynamic model representation of coupled natural gas and electricity network markets to test the potential interaction with respect to investments. The model is tested under simplified conditions as well as for a stylized European network setting. The results indicate that there is sufficient potential for investment substitution and market interactions that warrant the application of coupled models, especially with regard to simulations of long-term system developments. Keywords: Electricity network, Natural gas network, Europe, MCP



The Short and Long Term Impact of Europe’s Natural Gas Market on Electricity Markets until 2050

Jan Abrell and Hannes Weigt

Year: 2016
Volume: Volume 37
Number: Sustainable Infrastructure Development and Cross-Border Coordination
DOI: https://doi.org/10.5547/01956574.37.SI3.jabr
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Abstract:
The interdependence of electricity and natural gas is becoming a major energy policy and regulatory issue in all jurisdictions around the world. The increased role of gas fired plants in renewable-based electricity markets and the dependence on natural gas imports make this issue particular important for the European energy market. In this paper we provide a comprehensive combined analysis of electricity and natural gas infrastructure with an applied focus: We analyze three different scenarios of the long-term European decarbonization pathways, and analyze the interrelation between electricity and natural gas markets on investments in the long run and spatial aspects in the short run.





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