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Challenges for wholesale electricity markets with intermittent renewable generation at scale: the US experience

Citations

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Cited by:

  1. Chao LI & Shunsuke MANAGI, 2022. "Impact of the Rapid Expansion of Renewable Energy on Electricity Market Price: Using machine learning and shapley additive explanation," Discussion papers 22093, Research Institute of Economy, Trade and Industry (RIETI).
  2. Baxter Williams & Daniel Bishop & Patricio Gallardo & J. Geoffrey Chase, 2023. "Demand Side Management in Industrial, Commercial, and Residential Sectors: A Review of Constraints and Considerations," Energies, MDPI, vol. 16(13), pages 1-28, July.
  3. Chaves, J. P. & Cossent, R. & Gómez San Román, T. & Linares, P. & Rivier, M., 2023. "An assessment of the European electricity market reform options and a pragmatic proposal," Cambridge Working Papers in Economics 2325, Faculty of Economics, University of Cambridge.
  4. Hye Yoon Song & Gyu Sub Lee & Yong Tae Yoon, 2019. "Optimal Operation of Critical Peak Pricing for an Energy Retailer Considering Balancing Costs," Energies, MDPI, vol. 12(24), pages 1-20, December.
  5. Michael G. Pollitt & Karim L. Anaya, 2021. "Competition in Markets for Ancillary Services? The Implications of Rising Distributed Generation," The Energy Journal, , vol. 42(1_suppl), pages 1-2, June.
  6. Paul Simshauser, 2025. "Are gas turbines 'bankable' in transitioning energy-only markets?," Working Papers EPRG2601, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
  7. Fabra, Natalia, 2021. "The energy transition: An industrial economics perspective," International Journal of Industrial Organization, Elsevier, vol. 79(C).
  8. Ramiz Qussous & Nick Harder & Anke Weidlich, 2022. "Understanding Power Market Dynamics by Reflecting Market Interrelations and Flexibility-Oriented Bidding Strategies," Energies, MDPI, vol. 15(2), pages 1-24, January.
  9. Sousa, Joana & Soares, Isabel, 2022. "Demand response potential: An economic analysis for MIBEL and EEX," Energy, Elsevier, vol. 244(PA).
  10. Petersen, Claire & Reguant, Mar & Segura, Lola, 2024. "Measuring the impact of wind power and intermittency," Energy Economics, Elsevier, vol. 129(C).
  11. Valeriy Prasolov & Valery Bezpalov & Svetlana Doguchaeva & Rodion Rogulin, 2020. "Energy Price Formation and Energy Consumption by Households as a Factor of Ensuring Energy Safety," International Journal of Energy Economics and Policy, Econjournals, vol. 10(5), pages 82-93.
  12. Luo, Yilun & Ahmadi, Esmaeil & McLellan, Benjamin Craig & Tezuka, Tetsuo, 2024. "A hybrid system dynamics model for power mix trajectory simulation in liberalized electricity markets considering carbon and capacity policy," Renewable Energy, Elsevier, vol. 233(C).
  13. David P. Brown & David E. M. Sappington, 2023. "Market Structure, Risk Preferences, and Forward Contracting Incentives," Journal of Industrial Economics, Wiley Blackwell, vol. 71(4), pages 1146-1202, December.
  14. Keppler, Jan Horst & Quemin, Simon & Saguan, Marcelo, 2022. "Why the sustainable provision of low-carbon electricity needs hybrid markets," Energy Policy, Elsevier, vol. 171(C).
  15. Hu, Xiao & Jaraitė, Jūratė & Kažukauskas, Andrius, 2021. "The effects of wind power on electricity markets: A case study of the Swedish intraday market," Energy Economics, Elsevier, vol. 96(C).
  16. Csereklyei, Zsuzsanna & Kallies, Anne & Diaz Valdivia, Andres, 2021. "The status of and opportunities for utility-scale battery storage in Australia: A regulatory and market perspective," Utilities Policy, Elsevier, vol. 73(C).
  17. Juliette Caucheteux & Sam Fankhauser & Sugandha Srivastav, 2025. "Climate Change Mitigation Policies for Developing Countries," Review of Environmental Economics and Policy, University of Chicago Press, vol. 19(1), pages 69-89.
  18. Härtel, Philipp & Korpås, Magnus, 2021. "Demystifying market clearing and price setting effects in low-carbon energy systems," Energy Economics, Elsevier, vol. 93(C).
  19. Daher, Wassim & Elnaboulsi, Jihad & Fikru, Mahelet G. & Gautier, Luis, 2025. "An analysis of mergers in the presence of uncertainty in renewable energy integration costs," Energy Economics, Elsevier, vol. 150(C).
  20. Khyati Malik, 2026. "Farmer Adoption and Payment Design Under Risk: Variability in Soil Carbon Sequestration Across Conservation Practices," NBER Chapters, in: Risk and Risk Management in the Agricultural Economy, National Bureau of Economic Research, Inc.
  21. Simshauser, Paul, 2024. "On static vs. dynamic line ratings in renewable energy zones," Energy Economics, Elsevier, vol. 129(C).
  22. Sirin, Selahattin Murat & Yilmaz, Berna N., 2020. "Variable renewable energy technologies in the Turkish electricity market: Quantile regression analysis of the merit-order effect," Energy Policy, Elsevier, vol. 144(C).
  23. Billimoria, Farhad & Fele, Filiberto & Savelli, Iacopo & Morstyn, Thomas & McCulloch, Malcolm, 2022. "An insurance mechanism for electricity reliability differentiation under deep decarbonization," Applied Energy, Elsevier, vol. 321(C).
  24. Baxter L. M. Williams & R. J. Hooper & Daniel Gnoth & J. G. Chase, 2025. "Residential Electricity Demand Modelling: Validation of a Behavioural Agent-Based Approach," Energies, MDPI, vol. 18(6), pages 1-22, March.
  25. Sirin, Selahattin Murat & Camadan, Ercument & Erten, Ibrahim Etem & Zhang, Alex Hongliang, 2023. "Market failure or politics? Understanding the motives behind regulatory actions to address surging electricity prices," Energy Policy, Elsevier, vol. 180(C).
  26. Luigi Viola & Saeed Nordin & Daniel Dotta & Mohammad Reza Hesamzadeh & Ross Baldick & Damian Flynn, 2023. "Ancillary Services in Power System Transition Toward a 100% Non-Fossil Future: Market Design Challenges in the United States and Europe," Papers 2311.02090, arXiv.org.
  27. Peña, Juan Ignacio & Rodríguez, Rosa & Mayoral, Silvia, 2022. "Cannibalization, depredation, and market remuneration of power plants," Energy Policy, Elsevier, vol. 167(C).
  28. Mier, Mathias, 2021. "Efficient pricing of electricity revisited," Energy Economics, Elsevier, vol. 104(C).
  29. Zhou, Zhi & Botterud, Audun & Levin, Todd, 2025. "Price formation in zero-carbon electricity markets – Fundamentals, challenges, and research needs," Renewable and Sustainable Energy Reviews, Elsevier, vol. 211(C).
  30. Oliver, Matthew E. & Chapman, Oliver & Grijalva, Santiago & Matisoff, Daniel C. & Ramadhani, Maghfira & West, Amanda, 2026. "Managing zero-marginal-cost, intermittent renewable energy: A survey of the engineering, economic, and policy challenges," Renewable and Sustainable Energy Reviews, Elsevier, vol. 226(PC).
  31. Richard L. Sweeney & Joseph Wilske, 2025. "Excess Variance in Decentralized Renewable Energy Investment," NBER Chapters, in: Environmental and Energy Policy and the Economy, volume 7, pages 184-205, National Bureau of Economic Research, Inc.
  32. Biggar, Darryl R. & Hesamzadeh, Mohammad Reza, 2024. "Crises in Texas and Australia: Failures of energy-only markets or unforeseen consequences of price caps?," Energy Economics, Elsevier, vol. 137(C).
  33. Pietro Colella & Andrea Mazza & Ettore Bompard & Gianfranco Chicco & Angela Russo & Enrico Maria Carlini & Mauro Caprabianca & Federico Quaglia & Luca Luzi & Giuseppina Nuzzo, 2021. "Model-Based Identification of Alternative Bidding Zones: Applications of Clustering Algorithms with Topology Constraints," Energies, MDPI, vol. 14(10), pages 1-17, May.
  34. Chaiken, Benjamin & Duggan, Joseph E., 2024. "A note on the uniqueness of Nash–Cournot equilibria in an oligopolistic energy market with renewable generation and demand uncertainty," Energy Economics, Elsevier, vol. 138(C).
  35. Lo Prete, Chiara & Palmer, Karen & Robertson, Molly, 2024. "Time for a Market Upgrade? A Review of Wholesale Electricity Market Designs for the Future," RFF Reports 24-09, Resources for the Future.
  36. Cristian Junge & Dharik Mallapragada & Richard Schmalensee, 2022. "Energy Storage Investment and Operation in Efficient Electric Power Systems," The Energy Journal, , vol. 43(6), pages 1-24, November.
  37. Lasemi, Mohammad Ali & Arabkoohsar, Ahmad, 2020. "Optimal operating strategy of high-temperature heat and power storage system coupled with a wind farm in energy market," Energy, Elsevier, vol. 210(C).
  38. Do, Hung Xuan & Nepal, Rabindra & Jamasb, Tooraj, 2020. "Electricity market integration, decarbonisation and security of supply: Dynamic volatility connectedness in the Irish and Great Britain markets," Energy Economics, Elsevier, vol. 92(C).
  39. Sirin, Selahattin Murat & Abuouf, Sarah & Elshurafa, Amro M., 2025. "Is the single-buyer model a barrier to clean energy deployment? Empirical evidence on decarbonization and renewable energy supply in emerging and developing countries," Energy Policy, Elsevier, vol. 206(C).
  40. Hossain, Eklas & Roy, Shidhartho & Mohammad, Naeem & Nawar, Nafiu & Dipta, Debopriya Roy, 2021. "Metrics and enhancement strategies for grid resilience and reliability during natural disasters," Applied Energy, Elsevier, vol. 290(C).
  41. Javier L'opez Prol & Wolf-Peter Schill, 2020. "The Economics of Variable Renewables and Electricity Storage," Papers 2012.15371, arXiv.org.
  42. Shimomura, Mizue & Keeley, Alexander Ryota & Matsumoto, Ken'ichi & Tanaka, Kenta & Managi, Shunsuke, 2024. "Beyond the merit order effect: Impact of the rapid expansion of renewable energy on electricity market price," Renewable and Sustainable Energy Reviews, Elsevier, vol. 189(PB).
  43. Mallapragada, Dharik S. & Junge, Cristian & Wang, Cathy & Pfeifenberger, Hannes & Joskow, Paul L. & Schmalensee, Richard, 2023. "Electricity pricing challenges in future renewables-dominant power systems," Energy Economics, Elsevier, vol. 126(C).
  44. Diana Bottger & Philipp Hartel, 2021. "On Wholesale Electricity Prices and Market Values in a Carbon-Neutral Energy System," Papers 2105.01127, arXiv.org.
  45. Csereklyei, Zsuzsanna & Kallies, Anne, 2024. "A legal-economic framework of wholesale electricity markets: Assessing Australia's transition," Energy Policy, Elsevier, vol. 195(C).
  46. Doina Maria Radulescu & Philippe Sulger, 2021. "Interdependencies Between Countries in the Provision of Energy," CESifo Working Paper Series 8896, CESifo.
  47. Khezr, Peyman & Nepal, Rabindra, 2021. "On the viability of energy-capacity markets under decreasing marginal costs," Energy Economics, Elsevier, vol. 96(C).
  48. Gholami, Mina Bahrami & Poletti, Stephen & Staffell, Iain, 2021. "Wind, rain, fire and sun: Towards zero carbon electricity for New Zealand," Energy Policy, Elsevier, vol. 150(C).
  49. Böttger, Diana & Härtel, Philipp, 2022. "On wholesale electricity prices and market values in a carbon-neutral energy system," Energy Economics, Elsevier, vol. 106(C).
  50. Liu, Tingting & Chen, Zhe & Xu, Jiuping, 2022. "Empirical evidence based effectiveness assessment of policy regimes for wind power development in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 164(C).
  51. J.P. Chaves & R. Cossent & T. Gómez San Román & P. Linares & M. Rivier, 2023. "An assessment of the European electricity market reform options and a pragmatic proposal," Working Papers EPRG2305, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
  52. Radulescu, Doina & Sulger, Philippe, 2022. "Interdependencies between countries in the provision of energy," Energy Economics, Elsevier, vol. 107(C).
  53. Simshauser, Paul, 2021. "Vertical integration, peaking plant commitments and the role of credit quality in energy-only markets," Energy Economics, Elsevier, vol. 104(C).
  54. Fabra, Natalia, 2023. "Reforming European electricity markets: Lessons from the energy crisis," Energy Economics, Elsevier, vol. 126(C).
  55. Victoria Kihlström & Jörgen Elbe, 2021. "Constructing Markets for Solar Energy—A Review of Literature about Market Barriers and Government Responses," Sustainability, MDPI, vol. 13(6), pages 1-20, March.
  56. Villalobos, Cristian & Negrete-Pincetic, Matías & Figueroa, Nicolás & Lorca, Álvaro & Olivares, Daniel, 2021. "The impact of short-term pricing on flexible generation investments in electricity markets," Energy Economics, Elsevier, vol. 98(C).
  57. Hasan, Mohammad Hasibul & Keiner, Dominik & Breyer, Christian, 2025. "Techno-economic analysis of inter-annual energy storage and overcapacity in 100 % renewable energy systems for 145 regions globally," Applied Energy, Elsevier, vol. 401(PB).
  58. Williams, B. & Bishop, D., 2024. "Flexible futures: The potential for electrical energy demand response in New Zealand," Energy Policy, Elsevier, vol. 195(C).
  59. Csereklyei, Zsuzsanna & Kallies, Anne, 2022. "A legal-economic framework of electricity markets: Assessing Australia’s transition," MPRA Paper 114191, University Library of Munich, Germany.
  60. Flottmann, Jonty H. & Akimov, Alexandr & Simshauser, Paul, 2022. "Firming merchant renewable generators in Australia’s National Electricity Market," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 262-276.
  61. David P. Brown & David E. M. Sappington, 2025. "The Impact of Wholesale Price Caps on Forward Contracting," The Energy Journal, , vol. 46(4), pages 253-288, July.
  62. Olivier Bahn & Mario Samano & Paul Sarkis, 2021. "Market Power and Renewables: The Effects of Ownership Transfers," The Energy Journal, , vol. 42(4), pages 195-225, July.
  63. Yilun Luo & Esmaeil Ahmadi & Benjamin C. McLellan & Tetsuo Tezuka, 2022. "Will Capacity Mechanisms Conflict with Carbon Pricing?," Energies, MDPI, vol. 15(24), pages 1-25, December.
  64. Simona Bigerna & Carlo Andrea Bollino & Maria Chiara D’Errico & Paolo Polinori, 2023. "A new design for market power monitoring in the electricity market. A simulation for Italy," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 40(1), pages 285-317, April.
  65. Hernandez, Drake D. & Gençer, Emre, 2021. "Techno-economic analysis of balancing California’s power system on a seasonal basis: Hydrogen vs. lithium-ion batteries," Applied Energy, Elsevier, vol. 300(C).
  66. Verástegui, Felipe & Lorca, Álvaro & Olivares, Daniel & Negrete-Pincetic, Matias, 2021. "Optimization-based analysis of decarbonization pathways and flexibility requirements in highly renewable power systems," Energy, Elsevier, vol. 234(C).
  67. André Quites Ordovás Santos & Adriel Rodrigues da Silva & Jorge Javier Gimenez Ledesma & Adriano Batista de Almeida & Marco Roberto Cavallari & Oswaldo Hideo Ando Junior, 2021. "Electricity Market in Brazil: A Critical Review on the Ongoing Reform," Energies, MDPI, vol. 14(10), pages 1-23, May.
  68. Lo Prete, Chiara & Palmer, Karen & Robertson, Molly, 2025. "Time for a market upgrade? A review of wholesale electricity market designs for the future," Energy Economics, Elsevier, vol. 148(C).
  69. Zhang, Tuo & Tang, Maogang, 2024. "Solar surge and cost shifts: Heterogenous effects of redistribution in the electricity bills in Japan," Energy Economics, Elsevier, vol. 137(C).
  70. Maeder, Mattia & Weiss, Olga & Boulouchos, Konstantinos, 2021. "Assessing the need for flexibility technologies in decarbonized power systems: A new model applied to Central Europe," Applied Energy, Elsevier, vol. 282(PA).
  71. Billimoria, F. & Simshauser, P., 2023. "Contract Design for Storage in Hybrid Electricity Markets," Cambridge Working Papers in Economics 2322, Faculty of Economics, University of Cambridge.
  72. Freier, Julia & von Loessl, Victor, 2022. "Dynamic electricity tariffs: Designing reasonable pricing schemes for private households," Energy Economics, Elsevier, vol. 112(C).
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