Memorias de investigación
Communications at congresses:
The first renewable forward market mechanisms in the Iberian Electricity Market
Year:2012
Research Areas
  • Engineering,
  • Electric engineers, electronic and automatic (eil),
  • Economy
Information
Abstract
A description of the first renewable forward market mechanisms in the Iberian Electricity Market is provided. A contract for difference mechanism is available in Spain since March 2011between the last resort suppliers and the special regime (renewables and cogeneration) settling the price differences between the equilibrium price of the forward regulated auctions for the last resort supply and the spot price of the corresponding delivery period. Regulated auctions of baseload futures of the Portuguese zone in which the Portuguese last resort supplier sells the special regime production exist since December 2011. The experience gained from renewables auctions in Latin America could be used in the Iberian Electricity market, complementing these first market mechanisms. Introduction of renewable auctions at least for the most mature technologies (i.e. wind) in Spain and Portugal providing a fair price for the renewable generation will be of utmost importance in the short term to diminish the tariff deficit caused by the massive deployment of the feed-in-tariff scheme. Liquidity in the forward markets will also increase as a result of the entry of renewable generation companies intending to maximize their profits due to gradual suppression of feed in tariff schemes. Keywords: energy regulation; power futures; regulated auctions; over the counter; renewable generation
International
Si
Congress
Tenth LACCEI Latin American and Caribbean Conference (LACCEI?2012)
960
Place
Panama City
Reviewers
Si
ISBN/ISSN
978-0-9822896-5-5
Start Date
23/07/2012
End Date
27/07/2012
From page
1
To page
10
Megaprojects: Building Infrastructure by fostering engineering collaboration, efficient and effective integration and innovative planning
Participants
Research Group, Departaments and Institutes related
  • Creador: Grupo de Investigación: Ingeniería de la Calidad Alimentaria
  • Departamento: Ingeniería de Organización, Administración de Empresas y Estadística