Market Driven Power Plant Investment Perspectives in Europe: Climate Policy and Technology Scenarios until 2050 in the Model EMELIE-ESY
AbstractEMELIE-ESY is a partial equilibrium model with focus on electricity markets. Private investors optimize their generation capacity investment and dispatch over the horizon 2010 to 2050. In the framework of the Energy Modeling Forum 28, we investigate how climate policy regimes affect market developments under different technology availabilities and climate policies on the European power markets. The model projects an only minor increase of power consumption because of higher wholesale prices or energy efficiency current climate policy, and a balanced consumption pathway under ambitious climate policy. These results contrast with findings of POLES and PRIMES models in the reference case that predict unexpected heavy consumption increases by 2050. By contrast, we find no investment into Carbon Capture and Storage (CCS) and a diminishing share of nuclear energy. We find that renewable energy supply extension as projected can sufficiently meet electricity consumption complemented by only few capacity investments in conventional technology.
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Bibliographic InfoPaper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 1268.
Length: 16 p.
Date of creation: 2013
Date of revision:
Electricity markets; investment; climate policy;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-02 (All new papers)
- NEP-ENE-2013-03-02 (Energy Economics)
- NEP-ENV-2013-03-02 (Environmental Economics)
- NEP-EUR-2013-03-02 (Microeconomic European Issues)
- NEP-REG-2013-03-02 (Regulation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Traber, Thure & Kemfert, Claudia, 2011.
"Refunding ETS proceeds to spur the diffusion of renewable energies: An analysis based on the dynamic oligopolistic electricity market model EMELIE,"
Elsevier, vol. 19(1), pages 33-41, January.
- Thure Traber & Claudia Kemfert, 2009. "Refunding ETS-Proceeds to Spur the Diffusion of Renewable Energies: An Analysis Based on the Dynamic Oligopolistic Electricity Market Model EMELIE," Discussion Papers of DIW Berlin 951, DIW Berlin, German Institute for Economic Research.
- Thure Traber & Claudia Kemfert, 2012. "German Nuclear Phase-out Policy: Effects on European Electricity Wholesale Prices, Emission Prices, Conventional Power Plant Investments and Eletricity Trade," Discussion Papers of DIW Berlin 1219, DIW Berlin, German Institute for Economic Research.
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