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Introduction

Richard J. Green and Michael G. Pollitt

Year: 2008
Volume: Volume 29
Number: Special Issue #2
DOI: 10.5547/ISSN0195-6574-EJ-Vol29-NoSI2-1
No Abstract



The Future of Electricity (and Gas) Regulation in a Low-carbon Policy World

Michael G. Pollitt

Year: 2008
Volume: Volume 29
Number: Special Issue #2
DOI: 10.5547/ISSN0195-6574-EJ-Vol29-NoSI2-5
View Abstract

Abstract:
This paper discusses whether a new paradigm is necessary for independent economic regulation of electricity (and closely associated natural gas) systems. We begin by summarizing the nature of the traditional model of electricity reform and the place of economic regulation within it. Next we outline the drivers for changing the current model of electricity regulation, namely, the maturity of the existing model, the reality of changing circumstances, and the coming of age of climate change concern. We go on to discuss the premises on which a new model of regulation should be based. These are: remembering the successes of the current system of regulation; a new focus on processes not just outcomes; a recognition of the economics of climate change; and the appropriate management of uncertainty. We then highlight the key elements of a new model for regulation: new processes of regulation; new models of competition and the issues raised by a focus on climate change. The paper draws heavily on the experience of the UK, but has direct implications for the rest of the European Union countries and for other countries whose regulatory systems mirror them.



Can current electricity markets cope with high shares of renewables? A comparison of approaches in Germany, the UK and the State of New York

Michael G. Pollitt and Karim L. Anaya

Year: 2016
Volume: Volume 37
Number: Bollino-Madlener Special Issue
DOI: 10.5547/01956574.37.SI2.mpol
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Abstract:
This paper looks at the empirical and theoretical background to high shares of renewables in the electricity system. First we examine what is meant by "high shares" of renewables; next we consider what we mean by electricity "markets"; then we discuss what the term "cope with" implies; before returning to the suitability of "current" electricity markets. Second, we turn to three examples of jurisdictions - Germany, the UK and the State of New York in the US - with specific aspirations for decarbonisation and the role of renewables. Each exhibits very different approaches to the way they are adjusting their electricity market design to cope with high shares of renewables. We suggest that a new wave of electricity experiments is beginning around the theme of how to incorporate large shares of intermittent renewable generation in to electricity systems.



Storage Business Models: Lessons for Electricity from Cloud Data, Frozen Food and Natural Gas

Karim L. Anaya and Michael G. Pollitt

Year: 2019
Volume: Volume 40
Number: The New Era of Energy Transition
DOI: 10.5547/01956574.40.SI1.kana
View Abstract

Abstract:
The aim of this paper is to evaluate different well-established non-electric storage markets (cloud data, frozen food and natural gas) in order to identify relevant lessons for electrical energy storage (EES) connected to electricity distribution networks. The case studies that have been evaluated are Google Drive (cloud storage), Oakland International (frozen food storage) and Centrica Storage (gas storage). A specific business model methodology has been selected for comparing the different business model components across these sectors. The methodology (following Johnson et al., 2008) refers to key interconnected components: customer value proposition, the revenue formula, key resources and key processes. The evaluation of the three case studies suggests that well-developed business models already exist in growing and mature storage markets. Regulation plays also an important role across the different storage markets and business model components, however its importance varies depending on the type of market. Innovation in storage business models is also observed (technological and contractual) which should also be facilitated in EES. Innovation helps move storage markets towards more sustainable business models.



Competition in Markets for Ancillary Services? The Implications of Rising Distributed Generation

Michael G. Pollitt and Karim L. Anaya

Year: 2021
Volume: Volume 42
Number: Special Issue
DOI: 10.5547/01956574.42.SI1.mpol
View Abstract

Abstract:
Ancillary services are electricity products which include balancing energy, frequency regulation, voltage support, constraint management and reserves. Traditionally they have been procured by system operators from large conventional power plants, as by-products of the production of energy. This paper discusses the use of markets to procure ancillary services in the face of potentially higher demand for them, caused by rising amounts of intermittent renewable generation. We discuss: the nature of markets for ancillary services; what we really mean by ancillary services; how they are impacted by the rise of distributed generation; how they are currently procured; how they relate to the rest of the electricity system; the current state of evidence on ancillary services markets; whether these markets ever be as competitive as conventional wholesale energy markets, and offer some conclusions.





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