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Regulatory Options for Local Reserve Energy Markets: Implications for Prosumers, Utilities, and other Stakeholders

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  • Christiane Rosen and Reinhard Madlener

Abstract

While the share of fluctuating renewable energy resources is constantly increasing, the centralized, hierarchical organization of the current energy system and markets cannot adequately accommodate such decentralized electricity generation. New ideas have been developed and discussed for improved integration, also in Germany, one of the lead markets. Examples in this context are virtual power plants and microgrids. This paper presents a new local reserve energy market design (applied to residential households), which can facilitate the operation and allow trading within these constructs. Emphasis is put on the regulatory options and current market framework, mainly from a European and a German perspective, which serve as a basis for implementing the local market. It can be shown that using existing regulatory structures, a local market with simple rules (comparable to an "energy-eBay") can be easily installed.

Suggested Citation

  • Christiane Rosen and Reinhard Madlener, 2016. "Regulatory Options for Local Reserve Energy Markets: Implications for Prosumers, Utilities, and other Stakeholders," The Energy Journal, International Association for Energy Economics, vol. 0(Bollino-M).
  • Handle: RePEc:aen:journl:ej37-si2-rosen
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    References listed on IDEAS

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    1. Rosen, Christiane & Madlener, Reinhard, 2013. "The Role of Information Feedback in Local Reserve Energy Auction Markets," FCN Working Papers 15/2013, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    2. Lund, Henrik & Munster, Ebbe, 2006. "Integrated energy systems and local energy markets," Energy Policy, Elsevier, vol. 34(10), pages 1152-1160, July.
    3. Rosen, Christiane & Madlener, Reinhard, 2012. "Auction Design for Local Reserve Energy Markets," FCN Working Papers 7/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN), revised Mar 2013.
    4. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, March.
    5. Lawrence M. Ausubel, 2004. "An Efficient Ascending-Bid Auction for Multiple Objects," American Economic Review, American Economic Association, vol. 94(5), pages 1452-1475, December.
    6. Oberst, Christian & Madlener, Reinhard, 2015. "Prosumer Preferences Regarding the Adoption of Micro‐Generation Technologies: Empirical Evidence for German Homeowners," FCN Working Papers 22/2014, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    7. Sauter, Raphael & Watson, Jim, 2007. "Strategies for the deployment of micro-generation: Implications for social acceptance," Energy Policy, Elsevier, vol. 35(5), pages 2770-2779, May.
    8. Lund, Henrik & Andersen, Anders N. & Østergaard, Poul Alberg & Mathiesen, Brian Vad & Connolly, David, 2012. "From electricity smart grids to smart energy systems – A market operation based approach and understanding," Energy, Elsevier, vol. 42(1), pages 96-102.
    9. Kagel, John H & Levin, Dan, 1993. "Independent Private Value Auctions: Bidder Behaviour in First-, Second- and Third-Price Auctions with Varying Numbers of Bidders," Economic Journal, Royal Economic Society, vol. 103(419), pages 868-879, July.
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    Cited by:

    1. repec:eee:appene:v:242:y:2019:i:c:p:1407-1421 is not listed on IDEAS
    2. Markus Flaute & Anett Großmann & Christian Lutz & Anne Nieters, 2017. "Macroeconomic Effects of Prosumer Households in Germany," International Journal of Energy Economics and Policy, Econjournals, vol. 7(1), pages 146-155.
    3. repec:eee:rensus:v:98:y:2018:i:c:p:346-360 is not listed on IDEAS
    4. repec:gam:jeners:v:11:y:2018:i:11:p:3074-:d:181329 is not listed on IDEAS
    5. repec:eee:enepol:v:122:y:2018:i:c:p:214-228 is not listed on IDEAS

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    JEL classification:

    • F0 - International Economics - - General

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