How does market power affect the impact of large scale wind investment in 'energy only' wholesale electricity markets?

摘要: In the short run, it is well known that increasing wind penetration likely to reduce spot market electricity prices due merit order effect. The long run effect less clear because there will be a change in new capacity investment response penetration. this paper we examine interaction between investment, and power by first using least-cost generation expansion model simulate with amounts of generation, then computer agent-based predict presence power. We find degree which firms are able exercise depends critically on ratio peak demand. For our preferred scenario show increases for some periods as however counteracts results overall remain flat. Returns peakers increase significantly increases. turn leads inefficient dispatch exacerbated large generation.